SOURCE: Red Holdings Corporation, Inc.

July 06, 2007 10:38 ET

Florida-Based Red Holdings Corporation, Inc. Purchases Canadian High-Rise Window Manufacturer

POMPANO BEACH, FL--(Marketwire - July 6, 2007) - Red Holdings Inc., a Florida-based investment company, announced it has purchased Macyro Group Inc. ("Macyro"), a publicly traded, Quebec-based manufacturing company. Macyro, through its subsidiaries Gamma Industries Inc. and GammaUSA (www.gammaindustries.ca), develops, manufactures and installs architectural aluminum products such as windows, curtain walls, doors, panels and coverings for commercial high-rise buildings, including condominium towers, in both Canada and the U.S.

Red Holdings is controlled by Miami entrepreneur Edward W. Easton and a group of shareholders led by Elliot Kracko, who has more than 35 years' experience in the curtain wall industry. The company said it plans to keep Gamma's management team in place, including Alain Le Francois, who will continue running Canadian operations with the successful team of Pierre Belanger overseeing finance, and Frank Salerno directing business development in Canada. Stewart Struzer, who has been integral in the recent growth of the companies' South Florida sales, will remain as head of business development for GammaUSA.

"Gamma Industries is a terrific company that has been moving in the right direction and our goal is to build on that," said Easton. "Through our expertise and knowledge of the industry, we believe we can add value for our current and prospective customers while at the same time turning the company into a more valuable asset."

Elliot Kracko will serve as Red Holdings' Chairman of the Board. Prior to this new role, he was a private consultant to architects, engineers, and manufacturers. Over the years he has owned and operated his own companies that specialized in the manufacturing and installation of architectural curtain wall. Elliot Kracko brings a top team of new executive partners to manage and oversee market expansion. Matthew Baum, who has twenty-plus years of curtain wall experience, will step in as President of GammaUSA. Mario Perez, Jose Rodriguez, Michael DeHarde and Juan Alpizar, who collectively have more than 100 years of experience in the curtain wall business, will enhance the companies' engineering, manufacturing and construction divisions.

Chief Operating Officer Colleen Castille will coordinate the three companies' strategic operations. As a former Secretary for Florida's Department of Community Affairs and Department of Environmental Protection, Castille is intimately familiar with the state's building standards under the new hurricane code and the local growth plans. She also has numerous relationships with decision makers in the real estate industry and with local governments across the state.

Kathleen Shanahan is an investor and director in Red Holdings.

About Macyro:

Macyro manufactures and installs aluminum curtain walls, panels, windows and doors for use in high-rise commercial and residential construction projects, through its subsidiary Gamma Industries Inc. ("Gamma"). Gamma is recognized as a leader in its field in Quebec and has, over the last several years, developed a valuable niche in southeast United States of America, from which over 70% of its sales now originate.

About RED:

RED is a Florida-based investment company controlled by Edward W. Easton Family, Ltd. and a group of shareholders led by Elliot Kracko. Easton is a successful real estate entrepreneur who is chairman of The Easton Group, a boutique commercial real state firm based in Miami, Florida.

Contact Information

  • Contacts:

    Marielle Sologuren
    Boardroom Communications
    954-370-8999

    Colleen Castille
    Chief Operating Officer
    Red Holdings Corporation Inc.
    850-566-5791