Wilbert Inc. Splits into Two Independent CompaniesThe Wilbert, Inc. board of directors has unanimously approved a separation of Wilbert, Inc. into two separate companies, one focused on serving the funeral profession and the other on manufacturing and marketing plastic products. With this action, Wilbert Funeral Services, Inc. (WFSI) has been spun out of Wilbert, Inc. as a separate company and Wilbert, Inc. will operate as Wilbert Plastic Services. This split became effective on December 27, 2008.
“By separating these unique business units into two entities, we believe we will be able to unlock the intrinsic value of both companies by allowing each company to pursue its unique, long-term strategic initiatives and address their diverse operational needs. Furthermore, the separation will permit each company to focus on their respective business development opportunities and compete more effectively in their individual marketplaces,” commented C. James Mans, chairman of the Board of Directors.
“This is an important and logical next step for our licensees, their customers and our employees who have a direct interest in the success of our funeral business,” said Wm. Anthony (Tony) Colson, president and chief executive officer for WFSI. “We now have two companies, each with a sharpened strategic focus that will foster continued growth, solid operating performance and a clear vision on how best to build on the specific strengths of our respective businesses.”
Mr. Colson continued, “The company that has been split from Wilbert, Inc. ? Wilbert Funeral Services, Inc. ? is anchored by two of the most recognized and respected product lines in funeral service ? Wilbert Burial Vaults and Cremation Choices. This separation will allow us to continue to build a focused, mission-driven company that leverages these two brands while pursuing growth opportunities within funeral service.?
The separation will not have a material effect on the day-to-day lives of WFSI employees working at the company’s Broadview facility nor with the operations of the Wilbert licensee network throughout North America.
About Wilbert Funeral Services, Inc:
Wilbert Funeral Services, Inc. is the leading single-source supplier of burial vaults and cremation-related products and services to North American funeral homes. From its offices in Broadview, the company licenses the right to manufacture burial vaults under the Wilbert trademark to a network of over 200 licensees and sub-licensees throughout North America.