Firestone Acquisition Expands Roofing
TUESDAY, DECEMBER 10, 2013
Firestone Building Products has announced that it will acquire its first overseas manufacturing facility, expanding its roofing products portfolio.
Firestone Building Products Company LLC, located in Indianapolis, IN, said that it will acquire the manufacturing assets and brands of Giscosa and Giscolene, based in Terrassa, Spain.
The acquisition includes the Giscosa Ethylene Propylene Diene Monomer (EPDM) plant near Barcelona—Firestone's first overseas manufacturing facility. The plant will expand the company's global manufacturing, distribution capabilities and product offering.
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Firestone will expand its manufacturing, distribution and product offerings with the acquisition of Giscosa's Ethylene Propylene Diene Monomer (EPDM) plant near Barcelona. |
Financial details were not disclosed, but the acquisition is expected to be completed by the end of the year.
Building Envelope Products
The deal includes building envelope products used in roofing, walls and facades, and waterproofing applications, as well as lining products used in geomembrane and lining applications. Brand names include Giscotherm, Dipoflex and BTS products.
"Expanding Firestone's manufacturing capacity overseas is part of our strategy to position the company to better serve the needs of our European and global customers," said Tim Dunn, president of Firestone Building Products. "We are excited about the opportunities that the acquisition of Giscosa and Giscolene will bring to our business."
In addition to increasing Firestone's sales in the roofing and lining businesses, the acquisition will give the company additional capabilities and products, such as the manufacture of EPDM for use around windows and other building openings, plus clean sheets, thinner gauge sheets and different width sheets, according to Firestone.
Joan Palou Moreno, the current managing director, will continue to manage the Giscosa business, including facility operations. Giscosa employees will be offered employment contracts with Firestone Building Products.
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The acqusition is expected to be completed by the end of the year. Financial details were not disclosed. |
"This is a great opportunity for everyone at Giscosa," Moreno said. "Not only will we continue to manufacture our current products, but we also will have the resources of a vast global company, a leader in the roofing and lining markets and long-time valued business partner. We are excited about the future."
'Strong' Partnership
Giscosa's sister company, family-owned Rollgum, is not included in the acquisition. However, Rollgum, a distributor of Firestone's roofing products in Spain and Portugal, will remain a "strong" distribution partner, Firestone said.
"Our forty years of membrane sales in Spain and the market Firestone has built is due in good part to our loyal partnership and relationships with the Palou family and their dedicated team," said Michel De Knop, managing director of Firestone's European operations.
"We look forward to increasing our global customer base and continuing our collective tradition of producing and distributing the highest quality EPDM and TPO roofing products and lining applications globally," De Knop said.
About the Company
Firestone Building Products manufactures and supplies roofing, wall and specialty products.
For more information: www.firestonebpco.com.
Tagged categories: Acquisitions; Building envelope; Building Envelope; Building facades; Firestone Building Products Company; Roofing materials
