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Quanex Building Products to acquire Alumco assets
December 18, 2012 By Quanex Building Products
December 20, 2012 –Quanex Building Products, a manufacturer of engineered materials, components and systems serving domestic and international window and door OEMs through its Engineered Products and Aluminum Sheet Products groups, has announced it signed a definitive agreement to acquire the assets of Alumco and its subsidiaries in an all-cash transaction.
December 20, 2012 – Quanex Building Products ,
a manufacturer of engineered materials, components and systems serving
domestic and international window and door OEMs through its Engineered
Products and Aluminum Sheet Products groups, has announced it signed a definitive agreement to acquire the assets of Alumco and its subsidiaries in an all-cash transaction. The assets to be purchased include
Aluminite, a screen producer for the window and door industry. The acquisition
is expected to be accretive to earnings per share in 2013 and close by December
31. The purchase price and other financial information related to Alumco
will not be publicly disclosed.
Alumco is headquartered in Chehalis, Wash., and has
nine manufacturing facilities located throughout the United States that produce
and market window and patio door screens to original equipment manufacturers. Alumco’s
window screens primarily serve vinyl window manufacturers, which Quanex does
not currently serve with window screens. The new business will become part of
Quanex’s Engineered Products group.
“I’m pleased to welcome the team from Alumco into the Quanex
family,” said David Petratis, chairman, president and CEO of Quanex. “The acquisition allows us to expand our presence in the
fenestration segment. Quanex currently manufactures window screens for wood
window manufacturers. This acquisition creates the opportunity to become a
leading window and door screen producer in North America, allowing us to extend
our product offering and geographic footprint. Doing so will enable Quanex to
further support North American window OEMs.”
Related Link
www.quanex.com
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