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[June 2007]
General Shale Submits Purchase Proposal to Leading Stone Producer
General Shale Brick (Johnson City, TN, USA), Wienerberger AG's North American subsidiary and the nation's largest brick manufacturer, has submitted a purchase proposal to Arriscraft International, a leading North American stone producer based in Canada.The acquisition of the Cambridge, Ontario-based company would mark General Shale's first acquisition of a manufacturing entity outside the USA. Arriscraft produces stone, brick and marble products that are sold to architectural, institutional, commercial and residential building markets in Canada, the USA and overseas.
"This acquisition will give General Shale and our parent company, Wienerberger, a stronger market position in North America," said Dick Green, President and CEO of the company. "Arriscraft is a leader in the stone industry, and it is a natural fit for General Shale to be associated with a well-respected company that is known throughout North America for its complete line of high-quality architectural products.
"The combination of Arriscraft and General Shale will create a large number of synergies that both companies can benefit from quickly and efficiently. In the future, Arriscraft's stone products and General Shale's clay brick and concrete products will provide a complete masonry package to all of our valued customers throughout North America."
Founded in 1950, Arriscraft maintains a manufacturing presence in Ontario and operates additional production facilities in St-Etienne des Gres, Quebec, Canada and Fort Valley, GA, USA as well as a dolomitic limestone quarry in Wiarton, Ontario. With more than 400 employees, Arriscraft trades units on the Toronto Stock Exchange as an income trust and the company's consolidated sales for 2006 totalled 79.2 million Canadian dollars.
General Shale's interest in purchasing Arriscraft is part of the company's strategic growth plan. In three years, General Shale has acquired or opened 21 distribution centres and in 2006 the company purchased Robinson Brick Company, a brick manufacturer and high-end masonry product distributor headquartered in Denver, CO, USA.
General Shale Brick produces more than 1.6 billion brick units a year, supplying residential, commercial and specialty architectural bricks and brick pavers.
www.generalshale.com
ENDS