Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and distributor of products for building and industrial markets, today announced that it has acquired the metal grating fabrication and distribution business of privately held Edvan Industries Inc. Based near Edmonton, Alberta, Edvan Industries has served Western Canada’s oil and gas production industry as a stocking distributor of metal grating products for Gibraltar’s AMICO subsidiary since 1978. The company’s sales for 2011 were approximately US$5 million. Terms of the agreement were not disclosed.
“Acquiring Edvan Industries’ metal grating business solidifies our position in one of North America’s fastest-growing areas for oil and gas production,” said Gibraltar Chairman and Chief Executive Officer Brian Lipke. “Edvan Industries has done an exceptional job meeting the demands of our customers in the Canadian oil and gas industry for more than 30 years. Adding its metal grating products business assets and outstanding employee team to Gibraltar’s provides us with a stronger, more vertically integrated presence in a market that we have strategically targeted for growth.”
“The Western Canada oil sands region represents approximately $120 billion in current oil and gas projects,” said Gibraltar President and Chief Operating Officer Henning Kornbrekke. “Integrating Edvan Industries’ fabricated metal grating business into the AMICO organization will be a bolt-on process that creates important sales synergies for Gibraltar, strengthening our ability to serve customers and compete for a larger share of this important market.”
About GibraltarGibraltar Industries is a leading manufacturer and distributor of building products, focused on residential and nonresidential repair and remodeling, as well as construction of industrial facilities and public infrastructure. The Company generates more than 80% of its sales from products that hold the #1 or #2 positions in their markets, and serves customers across the U.S. and throughout the world from 41 facilities in 20 states, Canada, England and Germany. Gibraltar’s strategy is to grow organically by expanding its product portfolio and penetration of existing customer accounts, while broadening its market and geographic coverage through the acquisition of companies with leadership positions in adjacent product categories. 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 is subject to a number of risk factors, uncertainties, and assumptions. Risk factors that could affect the expected outcomes described in these statements include, but are not limited to the future of performance of the metal grating products business of Edvan Industries and Gibraltar’s effectiveness in integrating the operations of this business into those of the Company. In addition, such forward-looking statements could also be affected by general industry and market conditions, as well as general economic and political conditions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, as may be required by applicable law or regulation.
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