Insl-X’s new owner to close Stony Point plant
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- August
- 27
The Insl-X Products Corp. paint plant in Stony Point will close by Dec. 30, eliminating 60-65 jobs in Rockland County, a spokeswoman for the company’s new owner said.
Benjamin Moore & Co. announced in March that it had acquired Insl-X from owner James A. Weil of Scarsdale. Moore spokeswoman Eileen McComb said about two dozen office jobs in Stony Point, the Insl-X headquarters, would be moved to Moore’s headquarters in Montvale, N.J.
Terms of Moore’s acquisition of Insl-X were not disclosed. Moore is owned by Berkshire Hathaway Co.
Insl-X has been in Stony Point for 18 years. It was founded in 1948 by Weil’s father. Insl-x makes and sells its own brand of finishes; a number of acquisitions allowed it to expand from specialty and industrial products to architectural coatings.
In February the company paid off a $5.5 million bond that had been issued through the Rockland County Industrial Development Agency for the acquisition of 15 acres and the plant.
McComb said Moore bought the company because it would complement Moore’s holdings.
“I think we understood that some of the production was redundant,†she said. Moore has six paint plants, including one near Albany and another in New Jersey.
McComb said Moore will continue to operate Insl-X plants in Edgewater, Fla., San Antonio and Fort Worth, Texas, and Elk Grove, Ill.
Ronald Hicks, chief executive officer of Rockland Economic Development Corp., said the business group has offered to help Moore market the 150,000-square-foot property for sale or lease.
This entry was posted
on Wednesday, August 27th, 2008 at 3:35 pm by Jerry Gleeson.
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