IKO Industries Ltd. announced that it has concluded a deal that will see it acquire the operations of the Roof Tile Group from New Zealand-based manufacturer and builder Fletcher Building. Roof Tile Group manufactures metal roofing tiles for global sales and distribution under a number of brand names, including Decra and Gerard. The purchase will expand IKO’s global manufacturing and operations footprint to include production sites in New Zealand, Hungary, Malaysia, and the United States; and more than 500 employees to IKO’s worldwide team.
“We are pleased to welcome RTG and its employees to the IKO family,” stated Hartley Koschitzky, IKO’s co-chairman. “This acquisition represents an excellent opportunity to continue with our global growth strategy, and to expand our metal roofing business beyond our partnership with Metrotile NV, particularly in the North American market. We are looking forward to growing and building RTG’s business and learning from the knowledge and experience of our new team members in the metal roofing industry.”
IKO did not disclose the financial terms of the acquisition. The company indicated that the immediate future will see RTG continue to run its operations on a “business as usual” basis, while the company focuses on onboarding its new employees and gaining familiarity with RTG’s operations.
For more information, visit www.iko.com.
Source: roofingmagazine.com =>IKO Acquires Roof Tile Group