Dallas, Texas, USA, 15 August 2009 -- (BUSINESS WIRE) -- Thompson Mahogany Company, a fine hardwoods importer based in Philadelphia, Pennsylvania, has merged with East Teak Fine Hardwoods, Inc., an importer of first European quality teak and other fine hardwood products.
Thompson Mahogany Company will operate as a wholly owned subsidiary of East Teak, yet will maintain full operational autonomy from its headquarters location. The combined entities will leverage the strength of both companies to better serve customers in the residential, commercial, hospitality, and marine industries.
Financing for the transaction was provided in part by PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE:PNC - News).
Founded in 1843, Thompson Mahogany Company is a preeminent supplier of quality tropical hardwoods from Central America, South America, and Africa. Thompson directly imports more than 25 exotic wood species of lumber, decking, and flooring, used for furniture, flooring, outdoor decks, and boardwalks. The company ships into the ports of Camden, New Jersey, and Philadelphia, supplying wholesalers, distributors and manufacturers throughout the United States and Canada.
Founded in 1972, East Teak Fine Hardwoods, Inc. is the leading importer of the highest grade teak and other fine hardwood species used as decking, flooring, siding, mouldings, and custom millwork in the construction of hotels, resorts, office buildings, luxury homes, and yachts. From its facilities in South Carolina and Washington, East Teak serves the architectural, up-scale residential, commercial construction, hospitality, and boating industries throughout the United States and the Caribbean.
For more information, visit www.eastteak.com and www.thomahog.com.