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Article: GAF to buy composite lumber maker.(News)
- Article from:
- Plastics News
- Article date:
- July 20, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Matt Griswold
A newly formed subsidiary of Wayne, N.J.-based Building Materials Corp. of America has agreed to purchase Biddeford, Maine-based composite lumber maker Correct Building Products LLC for an undisclosed sum.
The deal is expected to close in a little more than a month.
Officials from both companies characterized the deal as a logical one for financial, technological and distribution reasons.
BMCA, which operates as GAF Materials Corp., can help Correct achieve broader distribution, and Correct will give GAF's decking business a broader range of wood-plastic composite extrusion technologies to accompany its ...