Polyglass USA Inc. announced its acquisition by MAPEI SpA Italy (MAPEI) has been finalized. The sale was concluded Sept. 30, 2008.
Headquartered in Milan, Italy, MAPEI is a privately held, international organization composed of over 6,000 employees and annual sales approaching $2.5 billion. As part of the acquisition, MAPEI also made the following organizational announcements:
- Andrew “Andy” Hastings has been promoted to Chief Executive Officer of Polyglass. He will be responsible for all Polyglass business operations in North America. The members of the Polyglass management team, responsible for all functional areas of the business, will report to Andy. Andy has over 25 years experience within the building materials industry. In his new role Andy will report to the Board of Directors of Polyglass.
- Natalino Zanchetta has been assigned a position as Vice President and member of the Board of Directors of Polyglass. Natalino will focus upon product development for the Polyglass line of products - capitalizing upon his extensive experience with Polyglass formulas and processes. Natalino has over 25 years of Polyglass experience, having served Polyglass in both Europe and the United States. Natalino is a member of the founding family of Polyglass. He will report to the Board of Directors of Polyglass.