Stemco announced its acquisition of Rome Tool and Die Co., a privately-held company with 55 years experience in the design and manufacture of brake shoes for medium- and heavy-duty truck and bus applications. The business will become part of the brake products group of Stemco. The acquisition was completed for cash; terms were not disclosed.
“Rome Tool and Die is an important and attractive addition to Stemco,” says Jon Cox, president of Stemco. “The business is the leading supplier of new brake shoes to the aftermarket in the United States. Stemco will now be able to combine brake shoes with Stemco Duroline brake pads to offer a completely lined brake shoe kit that will offer important performance and safety benefits to fleet operators.”
Brake shoes are the third braking product added by Stemco since the third quarter of 2009. Friction products were added through an agreement to provide brake linings manufactured by Duroline, a Brazilian company, to the North American market, and automatic brake adjusters were added through the Stemco Crewson joint venture.
Rome Tool and Die’s headquarters and manufacturing facility are located in Rome, Ga., where the business employs about 110 people. Jim Reis, vice president and general manager of the Stemco Brake Products Group, will lead the business, and Rickey Underhill will serve as director of business operations.
