UK based coatings and engineering group, Frederick Cooper have conditionally agreed to terms to sells it US subsidiary Cooper Coil Coating Inc, located in Florida. CCC is to be purchased by Cooper Coil Coatings LLC, a newly formed and totally separate limited liability company.
CCC is being sold for £2.1 million and is significantly down on the £4.7 million that Frederick Cooper paid for the business in 1993. While under Frederick Cooper management the company had performed poorly despite efforts to reduce costs and broaden their customer base. In the eight years since 1993, they recorded an operating loss for five of those years.
CCC supply pre-coated sheet and coil metal for applications including kitchen appliances and bakeware as well as building products.