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Slide #23. Headwaters Incorporated — 80% equity interest in the business of Roof Tile, Inc.
Headwaters Incorporated (HW)
80% equity interest in the business of Roof Tile, Inc.
HEADWATERS INCORPORATED (NYSE:HW), a building products company dedicated to improving lives through innovative advancements in construction materials, today announced it has entered into an agreement to acquire an 80% equity interest in the business of Roof Tile, Inc., a leading manufacturer of high quality concrete roof tiles and accessories under the Entegra brand that are sold primarily into the Florida markets ("Entegra Roof Tile"). In addition to the Entegra Roof Tile acquisition, Headwaters has agreed to acquire a 40% equity interest in a separate joint venture to be controlled by the significant shareholders of Entegra Roof Tile to market nationally Tag & Stick, an innovative roofing underlayment. Tag & Stick is currently being sold in the Florida market, and will be made available to Headwaters' customer base throughout the country. The acquisitions of Entegra Roof Tile and Tag & Stick will provide additional product offerings to our current roofing products portfolio.
Headwaters is a building materials company operating in the building products and construction materials sectors. Co. has three reporting segments: building products, in which Co. designs, manufactures, and sells manufactured architectural stone, exterior siding accessories (such as shutters, mounting blocks, and vents), roofing materials, concrete block, windows and other building products; construction materials, which acquires fly ash from coal-fueled electric generating utilities; and energy technology, a non-core segment which focused on reducing waste and increasing the value of energy-related feedstocks, primarily in the area of low-value oil.
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Hold (2.29 out of 4)
(ranked higher than approx. 89% of all stocks covered)
Based on Zacks ABR data;
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