DALLAS–Sept. 25, 2003–Eddie Lee, CEO of Pacific Northern, Inc., and David Tropper, owner and Chairman of Fieldstone Ltd., announced today that they have completed a deal to merge the two companies. Both Pacific Northern, Inc. and Fieldstone are designers and manufacturers of custom jewelry displays, branded watch displays, and visual components for many of the world’s largest retailers and watch companies. The combination of Fieldstone’s rapidly expanding account base and Pacific Northern’s extensive manufacturing and support capabilities in the U.S. and Southern China was the basis of a perfect match.
“Fieldstone’s solid position on the East Coast fits in perfectly with our growth strategy,” said Eddie Lee, CEO of Pacific Northern, Inc. “We will continue to have the New York personnel service clients on behalf of Pacific Northern, Inc. Their efforts will be fully supported by the PN staff, as well as the entire PN infrastructure in US and China.”
For Fieldstone, already looking to move their manufacturing facility from Northern to Southern China, the opportunity to move production into Pacific Northern’s extensive manufacturing facilities in Southern China was one they couldn’t pass up. “Pacific Northern’s manufacturing resources are remarkable, both in terms of manpower and in-house capabilities,” said Jonathan Tropper, Executive Vice President of Fieldstone Ltd. “They already had an ideal, running version of what we were looking to build. We realized immediately that a merger would greatly enhance what we can offer to our client base.”
Management teams from both Pacific Northern and Fieldstone are working together to ensure that the transition is seamless. “We’ve already begun consolidating our operations,” said Lee. “Both companies manufacture the same product, so we’re completely confident that there will be no surprises.”
Linda Douglas: 972-512-9009
Jonathan Tropper: 718-649-3300 X156