Revere buys supplier; gains handful of jobs
Revere Copper Products of Rome has signed an agreement with an entity of the Louis Berkman Co. to purchase the assets of Follansbee Steel, one of the oldest companies in the metal construction industry.
Closing is scheduled for June 29. Revere will move, install and operate the equipment in Rome. The company is located at 1 Revere Park in east Rome. The company declined to comment on the financial terms of the deal.
"Follansbee and Revere have had a long and beneficial partnership producing Revere’s trademark FreedomGray Architectural Products using Follansbee’s patented tin-zinc coating," noted President and Chief Executive Officer M. P. O’Shaughnessy. This move will also enable Revere to market the tin-zinc coated stainless product TCS II to the architectural community.
"These products, along with Revere’s other registered architectural products, help to provide the architectural community with a wide range of options for the building products industry," said O’Shaughnessy.
The relocation project is expected to take six months with an expected operational date in December.
Revere employs about 350 people in Rome. The exact impact of the deal on employment at Revere is still unclear, but it will mean at least "a handful" of new jobs, according to Timothy T. Rosbrook, the company’s vice president of human resources. What is clear, he noted, is that "if this purchase didn’t happen, there would be a handful of jobs that would have been affected negatively."