Hearthlist Digest #253 - Friday, January 8, 1999
 
Security Chimney Bought by Lennox (HPI)
  by "Craig Issod" <[email protected]>
 

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Subject: Security Chimney Bought by Lennox (HPI)
From: Craig Issod <[email protected]>
Date: Fri, 8 Jan 1999 16:09:53 -0500 (EST)
 
For Immediate Release
For More Information:
	January 6, 1999
Karen OShea, Vice President
Communications and Public Relations (972) 497-5172
 
Hearth Products Inc. Acquires Security Chimneys International Ltd.
 
(TUSTIN, CA) -- To  continue with its objective of building a major
presence in the hearth industry, Hearth Products Inc. (HPI) has purchased
the stock of Security Chimneys International Ltd. of Laval, Quebec.
Security Chimneys joins Lennox Hearth Products (Tustin, CA) and three
recently acquired companies -- Superior Fireplace Company (Fullerton, CA),
Marco Manufacturing (Lynwood, CA) and Whitfield Hearth Products
(Burlington, WA) -- to contribute to projected 1999 combined annual hearth
product sales in excess of $175 million.
 
Security Chimneys was founded 30 years ago.  The company manufactures a
complete line of high-quality chimney conduits including gas, wood, pellet
and oil venting for residential, commercial and industrial applications, as
well as wood and gas fireplaces.  The primary channel for distribution will
remain the hearth products industry.
 
According to Warren Hanselman, President of HPI: "Security Chimneys fits
our long-term strategic goal of being a key factor in the hearth products
industry.  We are especially encouraged about the capabilities of our new
company in presenting us with a solid foundation in the chimney market.
Security Chimneys will stay firmly independent with its own products,
supported by its own sales force.  We highly value the enthusiasm and
professionalism of Pierre Archambault, President of Security Chimneys, and
his exceptional team as well as the exciting programs that have made the
company so successful in its field.
 
"HPI will continue to explore other appropriate acquisition opportunities
that will enable us to be a strong partner in helping these businesses
expand.  What all our sister companies have in common is extensive R & D,
state-of-the-art technology, manufacturing, sales, marketing and financial
expertise.  We are pleased to welcome Security Chimneys to our corporate
family.  We look forward to the important role all our companies will play
in our future growth through producing the finest fireplaces, related
appliances and components in the industry," said Hanselman.
 
HPI is a wholly owned subsidiary of Lennox Industries, Inc., a Lennox
International company and a leader in total home comfort system design,
manufacturing and sales for over 100 years.  HPI is based in Tustin, CA,
while Lennox Industries is headquartered in Richardson, TX.  Lennox markets
its HVAC products through a network of nearly 6,000 North American dealers.