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Guardian Building Products _ Inc

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Guardian Building Products _ Inc Powered By Docstoc
					Press Release
For additional information, contact Teri Watson, Vice President at 864-297-6101 or teriwatson@bp.guardian.com

March 2, 2006 FOR IMMEDIATE RELEASE GREENVILLE, SC – Guardian Building Products Distribution, Inc. announced today the acquisition of substantially all the assets of CGI/Silvercote. The addition of CGI/Silvercote expands the fabrication capabilities and geographical service area of the company to include a total of 30 lamination locations. CGI/Silvercote is a privately held company owned by the Zupon family. The terms of the purchase agreement were not disclosed. CGI/Silvercote is one of the largest laminators of fiberglass insulation for metal buildings in the United States. “The addition of the nine lamination and distribution plants to the Guardian group significantly expands our market presence in the United States,” said Duane Faulkner, president and CEO of Guardian Building Products. In addition, “CGI/Silvercote has IQWeb, an online estimating software system that we will incorporate into our existing metal building insulation business.” “The acquisition provides Guardian with additional geographic reach to compete in all major markets, and sophisticated technologies and services to more effectively service our customers and operate this business unit,” said Faulkner. Headquartered in Solon, Ohio, CGI/Silvercote will continue operations under its name. The combined metal building insulation businesses will be under the direction of Larry Zupon, Jr., who will assume the new position of Vice President, Guardian Lamination Services. CGI/Silvercote was founded in 1972. The company offers SolarGuard, one of the leading reflective insulation products that combines high performance fiberglass insulation with durable reinforced facing materials on the exposed side and a reflective foil film on the back side. The sales teams will consolidate product offerings and technical systems. The insulation systems from Guardian Fiberglass and CGI/Silvercote will now be available to all customers, and include PurlinGlide FP™, SolarGuard, Energy Saver, Simple Saver®,

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and Perfect R™. These proprietary systems are not available through other metal building insulation companies. “We weren’t looking for a buyer, but when Guardian expressed interest, we could not ignore the opportunity and the potential to better serve our customers. Current market conditions and the chance to expand our products into other markets and to offer additional metal building insulation systems were strong incentives in our decision to sell the company,” said Larry Zupon, Jr. “With the tight product supply we have experienced in recent years, being owned by a manufacturer of fiberglass gives us access to product to meet the growing needs of our customers.” Guardian Building Products Distribution, Inc., a subsidiary of Guardian Building Products, Inc., has an extensive network of distribution centers and laminating plants throughout North America. Guardian Building Products, Inc. also includes Ashley Aluminum LLC, Guardian Fiberglass, Inc., and Guardian Installed Services, Inc. GBP, through its fiberglass division, is one of the largest fiberglass insulation manufacturers in North America. Guardian Fiberglass has six manufacturing plants located in Albion, MI; Inwood, WV; Kingman, AZ; Mineral Wells, MS; Erin, Ontario, Canada; and, soon to be open, Winnsboro, SC. Guardian is a full line manufacturer of light density fiberglass insulation used in residential and commercial applications. Guardian will manufacture the fiberglass used in the metal building insulation systems. GBP is one of three major divisions of Guardian Industries Corp., headquartered in Auburn Hills, Michigan. Guardian Industries is a leading manufacturer of architectural glass and automotive products. Guardian and its subsidiaries and affiliates employ over 19,000 people at manufacturing facilities throughout North America, Europe, South America, Asia, Africa, and the Middle East.

For more information, visit the company websites: www.guardianbp.com www.silvercote.com


				
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