St. Regis Crystal Merges with K&R Precision Corp.
St. Regis Crystal, the Cheektowaga, New York-based parent company of a group of promotional suppliers, including Chicago-based R.S. Owens and Elliot Lake, Ontario-based Prestige Glass International, announced this morning that it has finalized an agreement to merge with Cheektowaga, New York-based K&R Precision Corp.
K&R Precision Corp. will move its operations to St. Regis Crystal's manufacturing facility, but will retain its industry numbers, and Merrick Falkenstein will remain president of K&R Precision Corp.
"We just recently cut the ribbon on our recently completed expansion, and we are positioning ourselves for future growth, so the timing could not be better," Richard Firkser, CEO and president of St. Regis Crystal, said in a statement. "Our two organizations complement each other nicely, and this deal greatly enhances our competitive edge in the promotional industry. This merger ultimately provides our customers access to a larger, more diverse product range delivered with the same excellent service and quality they've come to expect from both St. Regis and K&R."
"This is an exciting day for the K&R team, and we are thrilled to be joining forces with St. Regis," Falkenstein said. "Bringing these two organizations together will allow us tremendous opportunities to expand our market share and focus on what we do best: providing our loyal distributors with the most innovative products and the best customer service in the industry."
Financial terms of the merger were not disclosed.