Prime Tanning merge with Cudahy

12 November 2007


As a result of this merger, all Cudahy side-leather finishing will be transferred to Prime's Hartland facility (formerly Irving Tanning) and the Cudahy plant will be closed. William R 'BJ' Law, current CEO of Cudahy, and other key personnel including their technical director will continue with Prime to ensure a smooth and comprehensive transfer of all customer leather production into the Hartland facility. The Cudahy tannery will remain in operation until the transition is complete. The addition of Cudahy's customers will broaden Prime's account base to include other leading footwear, accessory, and speciality leather brands. Prime Tanning's current customers include premier brands such as Born, H H Brown, Coach, Cole Haan, Justin, Rocky Boot, SAS, Sofft, Timberland, Wolverine and the US Military. Prime's CEO Bob Moore commented: 'This merger with Cudahy brings tremendous technical, R&D, and customer synergies to Prime that are unmatched in our industry. We welcome the Cudahy team and we look forward to the significant benefits these mergers will offer to all of our collective stakeholders.' Cudahy's CEO BJ Law commented: 'This is both an exciting opportunity and a difficult personal decision for me. My family has been producing leather in Cudahy, WI for over 60 years. The closing of this facility will end a very important chapter in our family's history. However, the opportunities that lie before us with this merger are countless. Cudahy Tanning will add significant competencies, marketing opportunities, and technical resources to Prime. The Irving and Prime facilities are truly world class operations, and by working together, will eliminate many of the challenges we currently face in the domestic tanning industry.' Prime Tanning Co Inc operate the largest vertically integrated wet-blue and side-leather finishing tanneries in the US, with annual capacities of 125 million feet and 30 million feet, respectively. Headquartered in Berwick, Maine, Prime employ 450 people at their St Joseph, Missouri and Berwick, Maine facilities. Mike and Steve Kaplan are grandsons of Morris Kaplan, who founded the business in 1914, and the sons of Leonard D Kaplan, who was chairman of the board for nearly 40 years. Cudahy Tanning Company specialise in unique and high tech leathers for the shoe, saddle, accessory and sporting goods markets. Cudahy Tanning currently operate an 8.5 million foot finished side-leather operation and employ approximately 100 people at their Cudahy, Wisconsin, facility. William R 'BJ' Law is the son of William L Law and grandson of William Bancroft Law who founded the company in 1945. Irving Tanning Company are one of the largest side-leather tanneries in the US with the capacity to finish more than 30 million feet of leather per year. Established in 1925, Irving operate a modern tanning facility at their headquarters in Hartland, Maine, employing around 115 people, and finishes leather in India through a joint venture with Bhartiya International LTD.



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