Mansfield Plumbing Products Acquired by Colombian Firm
The acquisition of Mansfield is part of Corona's strategy for global growth in the plumbing products business. Corona's brand names include Corona and Mancesa. The company exports 51% of its sales to more than 20 countries throughout the Americas and Europe.
Corona has a long-term strategic interest in Mansfield. Corona's board has asked to retain Mansfield's management team. Kevin Oak will remain as president, reporting to David Abramowitz, chief operating officer of Ceramicorp, and Julio Manuel Ayerbe, CEO of both Corona and Ceramicorp.
Mansfield, established in 1929, employs more than 750 people and has manufacturing and distribution centers in Perrysville and Big Prairie, Ohio; Henderson, Texas; and Fontana, Calif.
Corona, with more than 7,000 employees, manufactures and sells sanitary ware, floor and wall tiles, ceramic electric insulators, tableware, faucets and raw materials for the production of ceramics. Founded in 1935, the company also operates two retail chains: one that specializes in ceramic coverings and kitchen & bath; and the other, a joint venture in the do-it-yourself home improvement market with the Chilean retailer Sodimac.