JS Group buys Permasteelisa
By JS Group
By JS Group
Aug.t 18, 2011 – JS Group and Cima Claddings have executed a share purchase agreement under which JSGC acquired the entire stock of Permasteelisa. Permasteelisa owns Bleu Tech Montreal in Laval, Que.
The purchase price was approximately 573 million Euros and is subject to competition law approval in each relevant country.
Permasteelisa became a JSGC subsidiary following the transaction. It is a worldwide contractor in the engineering, project management, manufacturing and installation of architectural envelopes and interior systems with operation in 27 countries in the world. JSGC considers Permasteelisa's primary strengths to be its global presence and its ability to provide full-range services from plan proposals to installation. High-end curtain wall is its core business as proven by its established position in markets in Europe, Asia and North America.
JSGC says it plans to become a global leader in but building materials and housing equipment industry. It hopes having Permasteelisa in the group will help it to reinforce its Asian business, to secure its U.S. and European markets and to further expand its business to the markets all over the world. JSGC pointed to Permasteelisa's technology and brand power, saying it will create significant synergy with its technology.