NCI Building Systems Announces Early Termination of Waiting Period Under Hart-Scott-Rodino Related to Acquisition of Metl-Span LLC
HOUSTON, May 25, 2012 /PRNewswire/ -- NCI Building Systems, Inc. (NYSE: NCS) today announced that the Department of Justice Antitrust Division and the Federal Trade Commission have granted early termination of the waiting period under the Hart-Scott-Rodino Act in connection with the Company's previously announced acquisition of Metl-Span, LLC ("Metl-Span") for $145 million in cash. The Company expects to close the transaction by the end of June 2012.
Metl-Span has been a leader in insulated metal panel development for over forty years and has five manufacturing facilities in the United States serving the nonresidential building products market with energy efficient and cost-effective insulated metal wall and roof panels. For the year ended December 31, 2011, Metl-Span had estimated revenues of $170 million.
NCI Building Systems, Inc. is one of North America's largest integrated manufacturers of metal products for the nonresidential building industry. NCI is comprised of a family of companies operating manufacturing facilities across the United States and Mexico, with additional sales and distribution offices throughout the United States and Canada.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words such as "believe," "guidance," "potential," "anticipate," "plan," "expect," "should," "will," "forecast" or similar expressions are intended to identify forward-looking statements in this press release. These forward-looking statements reflect our current expectations, assumptions and/or beliefs concerning future events. However, these forward-looking statements are subject to a number of risks and uncertainties that may cause the Company's actual performance to differ materially from that projected in such statements. Among the factors that could cause actual results to differ materially include, but are not limited to, industry cyclicality and seasonality and adverse weather conditions; ability to service the Company's debt; fluctuations in customer demand and other patterns; raw material pricing and supply; competitive activity and pricing pressure; general economic conditions affecting the construction industry; financial crises or fluctuations in the U.S. and abroad; changes in laws or regulations; and the volatility of the Company's stock price. See also the risk factors in the Company's Annual Report on Form 10-K for the fiscal year ended October 30, 2011 which identify other important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements. NCI expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE NCI Building Systems, Inc.