Simpson Manufacturing Co., Inc. Announces the Acquisition of ProTech Systems, Inc.
June 18 2008 - 9:00AM
PR Newswire (US)
PLEASANTON, Calif., June 18 /PRNewswire-FirstCall/ -- Simpson
Manufacturing Co., Inc. (the "Company") announced that its
subsidiary, Simpson Dura-Vent Company, Inc. purchased 100% of the
equity of ProTech Systems, Inc. ("ProTech"), a New York company.
ProTech manufactures venting products in New York and distributes
them throughout North America. The purchase price (subject to
post-closing adjustment) was $7.5 million in cash, plus an
additional earn-out of up to $2.25 million if certain future
performance targets are met. Simpson Manufacturing Co., Inc.,
headquartered in Pleasanton, California, through its subsidiary,
Simpson Strong-Tie Company Inc., designs, engineers and is a
leading manufacturer of wood-to-wood, wood-to-concrete and
wood-to-masonry connectors and fastening systems, stainless steel
fasteners and pre-fabricated shearwalls. Simpson Strong-Tie also
offers a full line of adhesives, mechanical anchors and powder
actuated tools for concrete, masonry and steel. The Company's other
subsidiary, Simpson Dura-Vent Company, Inc., designs, engineers and
manufactures venting systems for gas and wood burning appliances.
The Company's common stock trades on the New York Stock Exchange
under the symbol "SSD." For further information, contact Barclay
Simpson at (925) 560-9032. DATASOURCE: Simpson Manufacturing Co.,
Inc. CONTACT: Barclay Simpson, +1-925-560-9032, for Simpson
Manufacturing Co., Inc. Web site: http://www.simpsonmfg.com/
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