Building Materials Corp. of America Announces Acquisition
Building Materials Corp. of America, dba GAF Materials Corp., Wayne, N.J., and Atlas Roofing Corp., Atlanta, announced that GAFMC has agreed to acquire Atlas's Quakertown, Pa. facility. The transaction closes on May 7, 2004, and GAFMC is expected to be in production with the current team of approximately 90 employees promptly after the closing of the acquisition.
William Collins, president and chief executive officer of GAFMC comments, "This acquisition will enable us to keep pace with the growing demand for our products in North American markets, which demand has increased at double-digit annual rates over the last three years. The Quakertown facility provides GAFMC with immediate capacity of roughly 2 million squares of shingles per year, plus the potential for additional capacity expansion, as well as saturated felt products to help contractors and distributors build their businesses in both the U.S. and Canada."