Monessen Hearth Systems Company Acquires Vermont Castings, Majestic Fireplaces and Other Key Assets of CFM Corporation

Tue Jul 29, 2008 8:31am EDT

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    Monessen Hearth Systems Company (MHSC), a leading manufacturer of
fireplace, stove and hearth products, is pleased to announce its
acquisition of key assets of CFM Corporation, including the
market-leading Vermont Castings and Majestic Fireplaces brands.

    The asset purchase agreement was accepted by CFM Corporation and approved
by U.S. courts on June 30, 2008 and Canadian courts on July 3, 2008. CFM
Corporation's U.S. and Canadian operations have been under creditor
protection since April 9, 2008, when protective orders were granted under
Canada's Companies' Creditors Arrangement Act and under Chapter 11 of the
U.S. Bankruptcy Code. CFM Corporation has continued to carry on business
during the restructuring period.

    Under the terms of the purchase agreement, MHSC will acquire CFM
Corporation's operations and assets in Bethel, Vermont and Randolph,
Vermont. The assets purchased include plants, machinery, equipment,
receivables, inventory, certain contracts and intellectual property,
among other specific items. MHSC also acquires all shares held in the
capital of CFM Mexico (Temcomex S.A. de C.V.).

    "We are very excited to be adding the Vermont Castings and Majestic lines
to our extensive selection of fireplace and hearth products," says Dave
Barrett, President and CEO of MHSC. "These brands are exceptionally
well-respected in the marketplace, and have a loyal following among
distributors, dealers, retailers and consumers."

    The acquisition by MHSC will ensure these two well-established brand
lines will continue to be offered to their loyal customer bases. 

    Based in Ontario, Canada, CFM Corporation has built an excellent
reputation as an integrated manufacturer of hearth, space heating,
barbecue and outdoor grill products in North America. Vermont Castings is
recognized as the pre-eminent brand in its markets and the Majestic
Fireplaces brand has a history dating back 120 years.

    About Monessen Hearth Systems Company

    Monessen Hearth Systems Company is a rapidly-growing North American
supplier of fireplaces, stoves, hearths and related remote technology
products. With acknowledged leadership in the hearth, propane and
residential new construction markets, MHSC manufactures a complete series
of Direct Vent, B-Vent, Vent-Free and Wood Burning products, including
log sets, fireplaces, inserts and stoves.

    Established in 1993 as a regional manufacturer of vent-free logs, MHSC
has grown to become a leading full-line supplier of hearth products to
both the retail and RNC business sectors. MHSC's four premier brands
include: Martin Hearth & Heating; Monessen; Lexington Forge; and Ambient

    Based in Paris, Kentucky, MHSC's flagship 280,000 sq. ft. manufacturing
facility employs over 350 people, and currently produces 95,000
fireplaces and 100,000 log sets annually. MHSC brands are known
throughout the industry for reliability, aesthetics, unparalleled
customer service, competitive delivery times and outstanding product

Monessen Hearth Systems Company
Dave Barrett
President and CEO
Toll Free: 1-800-867-0454, ext. 115
Toll Free: 1-877-867-1875 (FAX)

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