Unisphere acquires Chatham property as part of strategy to integrate affiliates
TORONTO, ONT-Unisphere Waste Conversion has acquired the land and building located at 650 Riverview Drive in Chatham, for a purchase price of for $6 million (Cdn) in cash plus a $1-million convertible secured debenture of Unisphere. The 32-acre property is home to a 320,000-square-foot building which serves as headquarters for Wellington Polymer Technology (Wellington Polymer) and Chatham Rubber Manufacturing (Chatham Rubber). The purchase of the property completes the first phase of Unisphere's mergers and acquisition strategy, said company president and CEO John Wypich. Phase Two of the strategy calls for the purchase of Wellington Polymer and Chatham Rubber, followed by the integration of the acquired companies into the Unisphere Group of Companies. Wellington Polymer is an alternative roofing manufacturer; its Enviroshake(tm) composite roofing product is made from recycled tire rubber and other post-industrial waste streams fabricated to replicate the look of a cedar shake. Chatham Rubber uses state-of-the-art equipment to produce crumb rubber which is sold in Ontario through long-term supply agreements with several large manufacturers. The company also supplies its vertical end products operations, such as Enviroshake, through long-term crumb supply contracts. More information is available from John Wypich at Unisphere Waste Conversion, 84 Avenue Road, Toronto M5R 2H2; 416/966-4555, E-mail Info@unisphere.ca, www.unisphere.ca.