BOCA RATON, Fla., Feb. 28, 2014 (GLOBE NEWSWIRE) -- Q.E.P. CO., INC. (OTC:QEPC.PK) (the "Company") today announced the completion of its purchase of all of the capital stock of Faus Group, Inc. ("Faus USA") from its parent company, Industrias Auxiliares Faus, S.L.U., in Spain. In addition to the stock purchase, the Company also purchased patents and other intellectual property applicable to the business.
Faus USA manufactures and distributes premium laminate flooring under the Fausfloor brand. Known for their commitment to innovation, Faus is a recognized industry leader when it comes to incorporating patented technologies into the design of its floors. These technologies allow Faus to offer floors that are more durable, provide a level of quality and realism not attainable by other manufacturers and with the wide plank design are easier and faster to install. With an eye on the environment, Fausfloor laminate floors are all Greenguard certified products. Faus USA operates out of a 380,000 square foot manufacturing and distribution facility located on over 78 acres in Calhoun, Georgia.
Mr. Lewis Gould, Chairman of the Company's Board of Directors commented, "The acquisition of Faus USA and its superior manufacturing facility in Calhoun, Georgia, will allow the Company to offer its customers a line of high end laminate products that complement the Harris Wood line of engineered wood products as alternatives to existing imported products. These QEP products provide customers with unique design choices and are all manufactured by American companies with American labor. In addition, QEP will supply a full spectrum of accessories to our customers from a single source."
Q.E.P. Co., Inc., founded in 1979, is a world class, worldwide provider of innovative, quality and value-driven flooring and industrial solutions. As a leading worldwide manufacturer, marketer and distributor QEP delivers a comprehensive line of hardwood flooring, flooring installation tools, adhesives and flooring related products targeted for the professional installer as well as the do-it-yourselfer. In addition the company provides industrial tools with cutting edge technology to all of the industrial trades. Under brand names including QEP®, ROBERTS®, Capitol®, Harris®Wood, Homelux®,TileRite®, Nupla®, HISCO®, Ludell®, Vitrex®, Plasplugs, PRCI®, Porta-Nails® and Elastiment®, the Company markets over 7,000 products. The Company sells its products to home improvement retail centers, specialty distribution outlets, municipalities and industrial solution providers in 50 states and throughout the world.
This press release contains forward-looking statements, including statements regarding the expected benefits resulting from the acquisition that involve risks and uncertainties. These statements are not guarantees of future performance and actual results could differ materially from our current expectations.
CONTACT: Q.E.P. Co., Inc. Richard A. Brooke Senior Vice President and Chief Financial Officer 561-994-5550Source:Q.E.P. Co., Inc.