Devcon Puts More Focus on Security by Selling Off Construction Unit
The construction-materials company that recently entered the security business by acquiring Adelphia’s electronic security services division is putting more funds into its electronic security division by selling off one of its construction materials units. Devcon Int’l, which acquired the Adelphia security unit in March has sold its U.S. Virgin Islands unit that sold cement and other construction supplies to a local investment group for $13.3 million according the a report in the South Florida Sun-Sentinel.
Devcon says it funneled all the money into its security division, and hinted it plans to expand its security operations in the near future. Devcon is led by Stephen Ruzika, former president of ADT Security Services.
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