Perrysville, OH The shareholders of Organización Corona SA, a privately owned company based in Colombia, have acquired ownership control of Mansfield Plumbing Products LLC, corporate officials announced last month.
The acquisition, whose terms were not disclosed, is part of Corona's strategy for "aggressive global growth in the plumbing products business," the company said in its announcement about making the purchase.
Corona is the leading sanitaryware manufacturer in Colombia, with brand names including Corona and Mancesa, and exports 51% of its sales to more than 20 countries throughout the Americas and Europe, according to the company.
The 75-year-old Mansfield, headquartered in Perrysville, OH, will report through Corona's U.S.-based business unit, Ceramicorp, Inc., according to the company.
Officials added that they "will focus on maximizing the synergies between the U.S. and Colombian operations to expand their combined market share in the Americas and to leverage their manufacturing expertise."
Corona, established in 1935, manufactures and sells sanitaryware, floor and wall tiles, ceramic electric insulators, tableware, faucets and raw materials for the production of ceramics.
In addition, Corona operates two retail chains: one specializing in ceramic coverings for the kitchen and bath, and a joint venture with the Chilean retailer Sodimac in the area of do-it-yourself for home improvement.
Mansfield employs more than 750 people and has domestic manufacturing and distribution centers in Perrysville and Big Prairie, OH, Henderson, TX, and Fontana, CA. The company distributes its products through plumbing wholesale and retail channels to consumers, contractors, builders and commercial and institutional end users.
"There are significant opportunities for reciprocal learning and cultural enrichment between the two companies," said Julio Manuel Ayerbe, the CEO of both Corona and Ceramicorp. "We look forward to a productive and rewarding relationship."