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Cindy Rowe Acquisition Still on Schedule, Cain Reports

Though Belron US spokesperson Jenny Cain was not able to provide any further updates or information on the company's scheduled acquisition of Harrisburg, Pa.-based Cindy Rowe Auto Glass, she was able to report this week that the transaction is still on track to close as expected.

"The deal is still expected to close by the end of 2008," says Cain.

Belron announced in late August that it had signed a letter of intent to purchase substantially all the assets of the company.

Currently, the companies are undergoing the due diligence process, which Cain had previously reported takes approximately 90 days.

Cindy Rowe Auto Glass was founded in 1980 as C. Rowe's Windshield Repair by its namesake, Cindy Rowe-Taylor. Rowe, who was and remains a registered nurse, had decided she wanted to go into business for herself and began performing repairs out of her Chevrolet Vega. In 1987, she purchased an existing auto glass replacement business in Harrisburg, Pa., and integrated it into her existing windshield repair business. Today, the business has 12 locations scattered throughout Pennsylvania and Maryland.

Rowe's husband, David Taylor, who today serves as chief operating officer of the company, joined the business in 1986, and is a founder and past president of the National Windshield Repair Association (NWRA). He serves on the NWRA Board of Directors.

The announcement of the purchase came just more than two months after Belron US emerged as the successful bidder in the sale of Diamond Glass via auction.

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