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8-K - FORM 8-K - GIBRALTAR INDUSTRIES, INC. | l42331e8vk.htm |
EX-10.1 - EX-10.1 - GIBRALTAR INDUSTRIES, INC. | l42331exv10w1.htm |
Exhibit 99.1
Contact:
Kenneth Smith
Chief Financial Officer
716.826.6500 ext. 3217
kwsmith@gibraltar1.com.
Chief Financial Officer
716.826.6500 ext. 3217
kwsmith@gibraltar1.com.
Gibraltar Completes Acquisition of The D.S. Brown Company
Acquisition of Leader in Engineered Products for Infrastructure Projects Enhances Gibraltars
Building and Industrial Market Penetration
Building and Industrial Market Penetration
Buffalo, New York, April 4, 2011 Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading
manufacturer and distributor of products for building and industrial markets, has completed its
previously announced acquisition of The D.S. Brown Company, an Ohio-based manufacturer of expansion
joints, structural bearings and pavement sealants for bridges, highways and other infrastructure
projects, from Altus Capital Partners, Inc.
As previously reported, Gibraltar expects the acquisition to be immediately accretive to non-GAAP
earnings, excluding acquisition and other one-time costs, and to be accretive on a GAAP basis in
the first 12 months of combined operations. In business for 100 years, D.S. Brown has a five-year
compound annual growth rate of 10% and reported sales of approximately $65 million for calendar
year 2010.
This transaction is an important incremental step forward in our strategy to focus on building and
industrial end markets and to acquire businesses with a record of strong growth, that provide
value-added products, and are clear leaders in their markets, said Gibraltar Chairman and Chief
Executive Officer Brian Lipke. D. S. Brown positions Gibraltar at a higher level in the product
value chain, and enables us to broaden our participation in building market categories with solid
growth characteristics. We welcome the D.S. Brown employee team into the Gibraltar family and look
forward to realizing our potential to create increased shareholder value as a combined
organization.
D.S. Brown is highly regarded as a provider of engineered, function-critical products for the
bridge and highway industry, said Gibraltar President and Chief Operating Officer Henning
Kornbrekke. We expect these products to play an increasingly important role in the rebuilding of
Americas transportation infrastructure and in Gibraltars sales, margins and cash flow in
the years ahead.
3556 Lake Shore Road, PO Box 2028, Buffalo, New York 14219-0228, Ph 716.826.6500, Fx 716.826.1589, gibraltar1.com
About Gibraltar
Gibraltar Industries is North Americas leading ventilation products, mail storage (single and
cluster), rain dispersion, bar grating, expanded metal, and metal lath manufacturer. The company
serves customers in a variety of industries in all 50 states and throughout the world from 37
facilities in 20 states, Canada, England, and Germany. Comprehensive information about Gibraltar
can be found on its website, at http://www.gibraltar1.com.
Safe Harbor Statement
Information contained in this news release, other than historical information, contains
forward-looking statements and may be subject to a number of risk factors, uncertainties, and
assumptions. Risk factors that could affect these statements include, but are not limited to, the
following: the availability of raw materials and the effects of changing raw material prices on the
companys results of operations; energy prices and usage; changing demand for the companys
products and services; changes in the liquidity of the capital and credit markets; risks associated
with the integration of acquisitions; and changes in interest and tax rates. In addition, such
forward-looking statements could also be affected by general industry and market conditions, as
well as general economic and political conditions. Please see the Risk Factors section of the
companys Form 10K for the year ended December 31, 2010 and other SEC filings. The company
undertakes no obligation to update any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by applicable law or regulation.
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