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GlassBYTEs™ Special News Alert
Iowa Glass Depot Acquires Precision Replacement Parts
Cedar Rapids, IA, April 3, 2006 - Iowa Glass Depot has acquired the assets of Precision Replacement Parts, of Monroe, WA. Precision is a distributor of moldings, weatherstrip, and hardware to the automotive glass industry. Terms were not disclosed.
The combination of Precision and Auto Glass Components, a wholly owned subsidiary of Iowa Glass Depot, will provide the auto glass industry with the broadest offering of quality parts available.
"Auto Glass Components and Precision’s existing locations will continue operations, capitalizing on the workforce, manufacturing and distribution strengths of both organizations" said Steve Dummermuth, CEO of Iowa Glass Depot.
Heres a new wrinkle-
A regional retail glass operation who:
-divested its wholesale distribution devision
to a manufacturer who owns the majority of the
insurance claims processing capacity
-owns the Alliance Network
-competes in most of the major midwestern markets
just bought the molding pricing benchmark for the industry?
Precision became the benchmark for molding pricing and numbering because of their autonomy, this has certainly gone out the window now that Iowa owns them.
When does this end up in court with NAGS, LYNX, SGC, Alliance, etc in the witness stand?