Southco Acquires Mobella

Monday, July 21, 2003
Southco, Inc Mobella AB, a supplier of marine locks, latches and accessories. Mobella AB, is headquartered in Eskilstuna, Sweden, with a sales and distribution office, Mobella Marine Locks and Latches Inc., located in Clearwater, Florida. “Southco and Mobella are an excellent strategic fit for our combined worldwide customer base and make us a leading global supplier of marine hardware," said Brian McNeill, President and CEO of Southco, Inc. “Consolidation amongst boat builders has accelerated, and customers are demanding increased levels of service from their suppliers. Coming together positions us to provide our customers with the broadest and most complete line of high quality marine hardware. We see immediate opportunities to leverage Mobella’s focused marine knowledge with Southco’s strong operations and global market presence by accelerating new product innovations and delivering great value from one global source.” McNeill said the Mobella brand is particularly well known for high quality passenger door hardware and will not only strengthen Southco’s position in the global marine market, but also will provide new opportunities for growth in other Southco markets including recreational vehicles and emergency vehicles as well as the rail, bus and off-highway truck industries. Mobella also has an excellent reputation for innovative and quality mortise locks and latches, sliding door locksets and other marine hardware accessories. The company has a strong market presence in Europe and North America and began offering its products in Asia-Pacific last year. Southco has a strong global market reach in marine hardware applications and is known for its deck and cabinet latches, especially the M-1 all-stainless-steel family of latches, which includes the newly introduced flush-turn compression latch.

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