10 Aug Socomore acquires majority stake of Flamemaster
Contact: Joshua Mazin, General Manager
Telephone: (818) 890-1401
Fax: (818) 890-6001
Web Site: http://www.flamemaster.com
Socomore acquires majority stake of Flamemaster
Pacoima, California, August 10th, 2023 – The Flamemaster Corporation announced that on July 18th, 2023, Socomore, with whom Flamemaster has various agreements including a joint development agreement, has increased its stake in the company from approximately 22.5% to approximately 73.97%. Socomore acquired about 52% of the outstanding shares from the selling shareholders based on agreements entered into in 2019. Flamemaster will continue to operate as an autonomous California based company providing high performance sealants, adhesives, and coatings to service the Aerospace, Defense, Energy, Marine, and Transportation Industries. The alliance with Socomore will allow Flamemaster to benefit from a global presence in aerospace as well as additional cooperation with Socomore’s existing US defense market presence. Flamemaster will seek to open new markets and promote its products outside the US military as well as maximize its production capabilities. The Flamemaster sealant line will complement and round out Socomore’s product line and expand upon their flyable range of product. The consolidation of Flamemaster and Socomore will allow the ability to bundle each other’s complementary products together and offer a wider range of products to their mutually shared customer base.
Joshua Mazin will continue to manage the day-to-day operations as the General Manager.
The release herein may contain or identify a forward-looking statement, these statements are based on several assumptions and estimates, which are inherently subject to uncertainty and contingencies, many of which are beyond the control of the Company and reflect future business decisions, which are subject to change.