Owens Corning acquires Pittsburgh Corning
Owens Corning has agreed to acquire Pittsburgh Corning, a producer of cellular glass insulation systems for commercial and industrial markets.
Pittsburgh Corning produces Foamglas cellular glass, a sustainable, high-performance, water- and fire-resistant insulation with high compressive strength and long-lasting thermal protection. The company also offers an extensive line of accessory products.
Owens Corning will pay $560 million in cash, with the deal expected to close in the third quarter of this year.
“The acquisition of Pittsburgh Corning will further expand Owens Corning’s commercial and industrial product offering and grow our presence in Europe and Asia,” said Julian Francis, president of Owens Corning’s Insulation Business. “The addition of Pittsburgh Corning will build on our core glass technologies and accelerates our progress in making Owens Corning the leading provider of insulation solutions with fiberglass, foam, mineral fiber, and cellular glass.”
Pittsburgh Corning employs over 1,100 people in 17 countries, with facilities in the United States, Belgium, Czech Republic and China. Pittsburgh Corning delivered 2016 sales of over $240 million.
“The combination of Pittsburgh Corning and Owens Corning will provide a tremendous opportunity to better serve our customers, grow our business and enhance career opportunities for our employees,” said Jim Kane, chairman, president and CEO of Pittsburgh Corning. “The Pittsburgh Corning team is proud of the 80-year heritage of our company and is looking forward to a bright future as part of Owens Corning.”
L&W Supply scoops up NOLA ceilings company
Wallboard and building products distributor L&W Supply Corporation has acquired Metairie, Louisiana-based Acoustical Ceiling Supply Company (ACS).
As the first acquisition for the company after being purchased by ABC Supply last November, this purchase will expand L&W's footprint to 137 branches across 35 states.
ACS will be the second L&W Supply branch in the New Orleans area. The family-owned business (founded in 1976) serves the greater New Orleans market with commercial acoustical ceilings, specialty ceilings, insulation, metal studs and drywall products.
“We’re excited to grow our footprint and look forward to continuing to serve the needs of contractors in the New Orleans market,” said Dan Piché, president of L&W Supply. “This acquisition marks the beginning of a new era of strategic growth for L&W Supply.”
Under L&W Supply’s ownership, both branches will have expanded service capabilities and provide a full line of building material products, including USG Ceiling Tile & Grid and USG Specialty Ceilings products.
Product Central: Tarter Gates & Corrals
Once a year, the industry packs its bags and heads to Las Vegas for the annual hardware event that tops all the rest in its scope, diversity, and sheer magnitude.
The National Hardware Show attracts a dense and diverse crowd from all over the country, which is only surpassed by the assortment of products littered across a show floor vast enough to move the needle on one’s Fitbit. It’s certainly not possible to see everything the National Hardware Show has to offer, but that’s why the show organizers are offering tailored recommendations to attendees. For an added level of optimization, here are a few highlights from HBSDealer that might be worthy of your attention.
Here is a product featured in a recent issue of HBSDealer:
Tarter Gates & Corrals
Tarter serves the farm and ranch customer with its wide selection of gates and corrals, ranging from heavy to light confinement (from 5-bar to 7-bar options, and with a number of galvanized solutions). Gates come in walk-, ride-, and drive-through models as well.
(tarterusa.com) Booth: 11762
Check out other products featured in the March 2017 issue of HBSDealer.