KL-Megla America Acquires CHMI Assets
July 20, 2011

KL-megla America LLC in Oxnard, Calif., has finalized a deal with Touch Red Inc. and State Central Bank of Keokuk, Iowa, to purchase the assets of Custom Hardware Manufacturing Inc. (CHMI).

The purchase gives KL-megla, among other things, exclusive ownership of CHMI’s portfolio of intellectual property. The new owner will continue to manufacture and distribute much of the CHMI hardware. In addition, the company is adding a Midwest regional distribution and custom fabrication facility.

“The acquisition is a timely opportunity that will inject stability and confidence into the market,” says Peter Reinecke, chief executive officer.

CHMI closed in late 2009 due to financial insolvency.

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