Spectro Buys Claremont
August 31, 2009
LEOMINSTER, Massachusetts - Spectro Coating Corp., a major global player in flock fabrics, acquired Claremont Flock Corp. from the employees for an undisclosed price on August 28.
"The purchase will allow us to strengthen our position in the flock industry," said Hemendra Shah, president of Spectro Coating. "It will allow us to be more vertical and increase our ability in R&D to bring new products to the market." Shah has been involved in the flock business since 1971 and was involved with Vertipile, Inc., the original company that not only owned Claremont but also was was housed with Spectro in the same factory building when Shah bought Spectro Coating in 1988.
Hemendra Shah has been a pioneer in the manufacture of nylon-flocked velvet since 1978. For 21 years, both Claremont and Spectro have enjoyed the success of the flock velvet business, but the recent economic slowdown caused Spectro to make this acquisition, Shah explained. He insisted that a more vertical company can weather the storm and return the firm to its position as it was '88, aiding both companies in their survival.
Rajesh Shah, son of Hemendra, has been named president of Claremont Flock LLC, which is the neighboring company to Spectro in the same industrial park. Shah has been with Spectro Coating since 2000. Peter Hadley, Tom Caruso and Jay Amin will continue to work at Claremont in management, while Tom Witham will continue at Spectro as vice president of sales.
Shah is looking at contract fabrics and the use of flock in automobile batteries for electric cars as a new means of market opportunities for his company. Spectro is one of three important players left in the U.S. flock business which includes Microfibers in Pawtucket, MA. and Cellusuede in Rockford, Illinois.
"The purchase will allow us to strengthen our position in the flock industry," said Hemendra Shah, president of Spectro Coating. "It will allow us to be more vertical and increase our ability in R&D to bring new products to the market." Shah has been involved in the flock business since 1971 and was involved with Vertipile, Inc., the original company that not only owned Claremont but also was was housed with Spectro in the same factory building when Shah bought Spectro Coating in 1988.
Hemendra Shah has been a pioneer in the manufacture of nylon-flocked velvet since 1978. For 21 years, both Claremont and Spectro have enjoyed the success of the flock velvet business, but the recent economic slowdown caused Spectro to make this acquisition, Shah explained. He insisted that a more vertical company can weather the storm and return the firm to its position as it was '88, aiding both companies in their survival.
Rajesh Shah, son of Hemendra, has been named president of Claremont Flock LLC, which is the neighboring company to Spectro in the same industrial park. Shah has been with Spectro Coating since 2000. Peter Hadley, Tom Caruso and Jay Amin will continue to work at Claremont in management, while Tom Witham will continue at Spectro as vice president of sales.
Shah is looking at contract fabrics and the use of flock in automobile batteries for electric cars as a new means of market opportunities for his company. Spectro is one of three important players left in the U.S. flock business which includes Microfibers in Pawtucket, MA. and Cellusuede in Rockford, Illinois.
