SOURCE: Amtech Management Ltd.

October 23, 2014 18:02 ET

Amtech Enters Into Letter of Intent to Acquire Assets of Leading Furniture Manufacturer

ONTARIO, CA--(Marketwired - Oct 23, 2014) - Amtech Management Ltd., a manufacturing and export group based in California and China, today announced that it has entered into a letter of intent ("LOI") with Chromcraft-Revington, a designer, manufacturer and importer of residential and commercial furniture, under which Amtech intends to purchase certain assets of Chromcraft-Revington, including its Chromcraft, Peters-Revington, and Cochrane brands.

"As an established leader in the furniture industry for nearly 70 years, Chromcraft's experience in creating customizable, quality residential and commercial furniture will further strengthen Amtech's leadership in delivering high quality products to the consumer and commercial markets worldwide," said James Yang, Director of Marketing of Amtech. "We look forward to completing this transaction and further expanding Amtech's quality furniture offerings by leveraging Chromcraft's custom, high quality design and Peters-Revington's leadership in the occasional table and entertainment marketplace, and adding resources with the supply and value advantages offered through our China-based operations." 

The proposed transaction will represent the third furniture acquisition in the past three years by Amtech, which currently produces the Douglas Casual Living and Mastercraft furniture brands. Amtech intends to warehouse and resume some manufacturing operations at Chromcraft's headquarters in Senatobia, Mississippi. The transaction is expected to close in early 2015.

About Amtech Management Ltd.
Established in 1990 and headquartered in China and California, Amtech Management LTD is a manufacturing group that exports products -- from furniture to complete custom built homes -- for the European, USA and Japanese residential and commercial markets. The company produces the Douglas Casual Living and Mastercraft furniture brands.

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