Socomore Acquires Majority Stake of Flamemaster
Summary
Pacoima, CA, August 12, 2023 --( PR.com )-- The Flamemaster Corporation announced that on July 18, 2023, Socomore, with whom Flamemaster has various agreements including a joint development agreement, has increased its stake in the company from approximately 22.5% to approximately 73.97%. Socomore acquired about 52% of the outstanding shares from the selling shareholders based on agreements entered into in 2019. Flamemaster will continue to operate as an autonomous California based company providing high performance sealants, adhesives, and coatings to service the Aerospace, Defense, Energy, Marine and Transportation Industries. The alliance with Socomore will allow Flamemaster to benefit from a global presence in aerospace as well as additional cooperation with Socomores existing US defense market presence. The consolidation of Flamemaster and Socomore will allow the ability to bundle each other’s complementary products together and offer a wider range of products to their mutually shared customer base.Joshua Mazin will continue to manage the day-to-day operations as the General Manager.Flamemaster Corporation13576 Desmond StreetPacoima, CA 91331-2315Contact: Joshua Mazin, General ManagerTelephone: (818) 890-1401Fax: (818) 890-6001Web Site: http:/www.flamemaster.comE-mail: Jennifer@flamemaster.com The release herein may contain or identify a forward-looking statement, these statements are based on several assumptions and estimates, which are inherently subject to uncertainty and contingences, many of which are beyond the control of the Company and reflect future business decisions, which are subject to change.