7/2/2010 4:23:00 PM
Simpson Sells Non-Fastener Subsidiary
Simpson Manufacturing Co. Inc. and Simpson Dura-Vent Company Inc. have agreed to sell the assets of Dur-Vent to M&G Holding B.V. and a newly formed, wholly owned, indirect subsidiary of M&G.
The purchase price will be $20 million in cash, plus or minus Simpson Dura-Vent’s working capital balance at closing.
Simpson Dura-Vent designs, engineers and manufactures venting systems for gas and wood burning appliances.
M&G, a Netherlands-based company, manufactures and distributes venting products for European markets.
Simpson Manufacturing through its subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood-to-wood, wood-to-concrete and wood-to-masonry connectors and fastening systems, stainless steel fasteners and pre-fabricated shearwalls. Simpson Strong-Tie also offers a full line of adhesives, mechanical anchors and powder actuated tools for concrete, masonry and steel. Web: strongtie.com ©2010 GlobalFastenerNews.com
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