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September 18, 2006 1:18 PM CDT

Owens Corning To Acquire Modulo/ParMur Group

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Owens Corning announced it has signed a purchase agreement to acquire The Modulo™/ParMur Group, a market-leading producer and distributor of manufactured stone veneer in Europe. The acquisition will further the global expansion of the Owens Corning Cultured Stone® business in the European building products market.

The transaction, valued at approximately $32 million, is expected to close this month.

The Modulo/ParMur Group, based in Bray-sur-Seine, France, designs, manufactures and markets manufactured stone veneer wall and floor products under the Modulo and ParMur brands. Modulo and ParMur are plaster-based interior wall and cement-based exterior wall-cladding products, which are distributed primarily through the DIY market in Europe.

The transaction is subject to the approval of applicable regulatory and judicial authorities.


About the Author

Owens Corning offers insulation, roofing, basement finishing, cultured stone and acoustic systems for building and remodeling, composites solutions and asphalt. Please visit www.owenscorning.com for more information.

 

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