Mergers & Acquisitions
By The Online Investor Staff, updated Sun., Aug. 19, 11:47 AM
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Slide #2. Armstrong World Industries, Inc. — Steel Ceilings, Inc.
Acquirer:
Armstrong World Industries, Inc. (NYSE:AWI)
Acquiree:
Steel Ceilings, Inc.
Details:
Armstrong World Industries, Inc. (NYSE:AWI) today announced it has completed the acquisition of Steel Ceilings, Inc. (SCI), a manufacturer of standard and custom aluminum and stainless metal ceilings that include architectural, radiant, and security solutions. SCI has annual sales of approximately $10 million. This acquisition advances AWI's strategy to aggressively penetrate the architectural specialties segment and provide additional capabilities to sell into more spaces and sell more into every space. SCI is located in Johnstown, Ohio, near Columbus.
Armstrong World Industries designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) for use in the construction and renovation of residential, commercial and institutional buildings. Co. has three segments: Americas (including Canada); Europe, Middle East and Africa (including Russia); and Pacific Rim. Each of Co.'s segments produce suspended fiber and metal ceilings for use in commercial and institutional settings in addition to sourcing complimentary ceiling products. Each segment also includes Co.'s Worthington Armstrong Venture joint venture, which manufactures suspension system (grid) products that are invoiced by both Co. and WAVE.
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Avg. Broker Rec.
 
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Hold (1.86 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
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