PLEASANTON, Calif.,
Oct. 31, 2011 /PRNewswire/ -- Simpson
Manufacturing Co., Inc. (the "Company") (NYSE: SSD) announced today
that it entered into an agreement to purchase all of the shares of
S&P Clever Reinforcement Company AG and S&P Reinforcement
International AG (collectively "S&P Clever"), both companies
incorporated under the laws of Switzerland, for 54
million Swiss Francs (equivalent, at the exchange rate on
October 26, 2011, to $61.4 million), subject to post-closing
adjustments. S&P Clever manufactures and sells engineered
materials for repair, strengthening, and restoration of concrete
and masonry construction and has operations in Switzerland, Germany, Portugal, Poland, The
Netherlands and Austria.
The transaction is expected to close in January 2012.
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
common stock trades on the New York Stock Exchange under the symbol
"SSD."
For further information, contact Barclay
Simpson at (925) 560-9032.
SOURCE Simpson Manufacturing Co., Inc.