Rosen Sale Nears Completion
Staff -- TWICE, 8/19/2002
CORONA, CALIF. — Rosen Products, a maker of car video screens and entertainment systems, is in the process of selling its car entertainment division in a management led buyout.
The purchase of Rosen's Automotive and Specialty Products division is being led by Tom Clements, chairman and CEO of Rosen Products since 1997. The sale is expected to be completed this month and the new company, Rosen Entertainment Systems, is expected to move to new facilities and begin operations by Aug. 19.
According to Clements, Rosen's parent company, The Berwind Group, "for strategic reasons" decided to sell off several Rosen Products divisions, including those that produce aviation equipment. The sales should be completed by fall, at which time the company's Eugene, Ore., manufacturing facility is expected to close.
Clements said the closing of the factory will not impact Rosen's in-car entertainment products, which have been produced overseas from the outset. Clements said the company expects to expand its product offering in mobile entertainment and will announce a range of new products in August.
