Westport, CT, November 15, 2006--IWT Tesoro Corporation has established a new operating subsidiary, American Gres, Inc., to pursue opportunities in the domestic production of ceramic tile.
Henry J. Boucher, IWT's CEO said, "We are working with experienced European tile designers to develop a domestic production model that can augment IWT's current distribution channels. By manufacturing tile domestically, American Gres will seek to expand IWT's existing import model. Our distribution channels continue to expand and domestic production combined with increased importing, will help to meet market demands going forward."
IWT Tesoro Corporation is one of a few publicly traded tile distributors that is wholesale-driven.
