Superior Industries buys WestMor
WestMor Industries announced Thursday that the company has been purchased by Superior Industries.
The deal was announced in a release Thursday afternoon.
WestMor's previous owners, Riley Brothers Properties and Warrenn Anderson, purchased the company in 2001.
WestMor Industries produces fueling systems, transports, tanks and fuel trucks and also repairs, services and installs systems.
Superior employs more than 300 people manufacturing portable and stationary conveying equipment, conveyor idlers and pulleys used in industries such as mining, concrete, asphalt, construction aggregates and recycling.
WestMor will retain its name and operate as a subsidiary of Superior Industries.
During Riley's and Anderson's tenure, WestMor reports that the company has grown and profited. But Riley and Anderson said they decided that they had taken the company as far as they could and that the sale to locally-owned Superior Industries was a good fit.
"Our number one priority is WestMor's employees," Anderson said in the release. "Superior Industries shares our vision and values, and the sale will be beneficial for our 115 employees and their families."
Anderson stated that he is confident that both companies have a bright future and that he and Riley Brothers have reinvested in Superior Industries.
WestMor's President, Tom Zosel said he is excited about the sale and the opportunities it creates for both WestMor and Superior Industries.
According to the release, Zosel and Superior Industries President, Paul Schmidgall, have worked closely together over the past four years, sharing technical knowledge and resources between the two companies and as participants in a local CEO peer group forum. Both men said they believe that the development is a win-win situation.
"We believe that the synergies created by the sale will benefit everyone," Zosel said. "Superior Industries is a great company and their manufacturing expertise and resources will help us take WestMor Industries to a new level. This acquisition raises the ceiling of opportunity for all of our employees."