CFM GOES GLOBAL
By Adnews Staff
Gas fireplace manufacturer CFM Majestic of Mississauga, Ont. has moved into the cast-iron stove market. The company is buying Vermont Castings of Bethel, Vermont for $48 million(US). The deal will put the Canadian company's wares into international specialty stores. CFM makes natural gas and propane fireplaces which are sold through utilities and distributors in North America. Vermont sells cast iron wood burning and gas stoves in North America, Europe, Japan, Australia, New Zealand and South America. Annual sales in 1995 were $53 million(US). The agreement is still subject to due diligence by both companies. Advertising for CFM is done by agencies on a project basis and in-house. Last September CFM bought The Majestic Products Company of Huntington, Indiana, which sells gas and wood burning fireplaces in the U.S.