Diversified Glass to Sell Saf-Ti Glass Distributors Business; Plans to Focus on Retail Business
Diversified Glass Services Inc. is in the process of selling its Saf-Ti Glass Distributors Business to Mike McAskin, according to director of operations Paul Bradford.
We are in the process of closing on a sale, Bradford told glassBYTEs.com/AGRR magazine. The sale is still in progress Its scheduled to close on Monday, February 16.
Bradford attributes the sale to the downturn in the economy.
With the economy the way it is, the margins werent that great on the wholesale side and we needed to focus on the stronger retail business, he says. Thats where we believe our strength lies.
According to Bradford, McAskin previously was with Harmon Glass.
Saf-Ti Distributors had exited the auto glass business in February 2008,
citing a lack of profitability in the auto glass segment. (CLICK
HERE for related story.) However, its parent company, Diversified,
also has a retail auto glass business, Henderson Glass, and a third-party
administration arm, Great Lakes Claims Service.
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