Feb. 25, 2023 - According to a letter that HarbisonWalker International (HWI) sent to its partners, it is notablly that the company announces the departure of its CEO, besides the completion of acquisition by Platinum Equity, the combination with Calderys, the global CEO of the combined company, and the respective locations of the company's dual headquarters. The following is the full text of the letter for your reference:
Dear Valued HarbisonWalker International Business Partner:
Platinum Equity completed its acquisition of HWI on February 16, 2023. As previously announced, integration plans are underway to combine HWI and Calderys.
Joining forces creates additional scale and gives us access to new technologies, making our value proposition even more competitive in the market. Investments in our business will further enhance the refractory products and services we deliver to customers.
As a supplier and business partner to HWI, you do NOT need to expect any disruptions in our operations, and our business continues as usual. HWI will continue to operate with the same quality and care our customers – and all our stakeholders – have come to expect from us!
Integration planning has just begun, but we do have the following important news to share with you at this time:
• Michel Cornelissen, currently President and CEO of Calderys, will serve as the global CEO of the combined company effective immediately. A new President of the Americas will be appointed in the near future to lead the combined business in this region.
• Carol Jackson is leaving HWI. We are very grateful for her contributions to HWI’s success during her tenure and wish her great success for the future.
• The HWI brand will be retained as the key go-to-market brand in North America
• The Americas region headquarters of the combined company will be in Pittsburgh
Combining our companies under new ownership is a process, so some answers to your potential questions are yet to be determined. We are committed to regular and clear communication with clarity and transparency as plans continue.
The Calderys and HWI product portfolios are highly complementary and will create a comprehensive, well-rounded offering of brick and powder-based refractories for a global customer base. We expect the combination to create even greater value for our customers immediately.
Thank you for your business. We will continue to keep you updated, but please get in touch with us at any time.
Sincerely,
Dave Elias
Vice President, Supply Chain