Genlyte Thomas Group Acquisition Expands Product Breadth For Outdoor Lighting Market

Genlyte Thomas Group LLC has purchased USS Manufacturing Inc., Renfrew, Ontario, a manufacturer of tapered, fluted and round aluminum poles, brackets, standard and decorative arms for street and traffic lights, and flag poles.

Larry K. Powers, president and chief executive officer of Genlyte Thomas Group commented, “We are pleased with the strategic benefits of this acquisition. USS Manufacturing enhances our position in the outdoor luminaire business and will enable GTG to provide a more complete line of aluminum poles to our customers, improving our overall product offering in the outdoor lighting markets. Annualized sales are forecasted to be over $2.9 million this year. We expect this transaction to be slightly accretive to our earnings this year.

“Genlyte Thomas addresses the outdoor lighting markets through our Lumec, Hadco, Gardco, Widelite, Day-Brite and Stonco and Shakespeare divisions. The acquisition of USS Manufacturing will provide synergistic sales and marketing opportunities as we service the outdoor lighting markets. The USS Manufacturing production processes are fairly unique and provide high quality, custom capabilities for many of our outdoor lighting applications.

Powers said the company has been pleased with the performance of its Shakespeare Composite Structures light pole business acquisition completed in May of 2003 and looks forward to similar results from the USS Manufacturing purchase.

John Hitsman, president of USS Manufacturing, will remain with the company and continue to operate the business under its current organizational structure.

In other news (See story page 3), Genlyte said it would buy Thomas Industries Inc.’s stake in Genlyte Thomas Group LLC for about $400 million in cash.