The purchase includes the purchase and operation of three U.S. manufacturing facilities, in Lancaster and Beech Creek, Pennsylvania, and in Kankakee, Illinois.
The latest initiative in its efforts to grow its brand nationwide is hiring and promoting a range of seasoned professionals with experience in commercial and residential flooring, and installation products.
Giant Group will acquire the equity interests in the company’s Hong Kong holding company subsidiary, including all associated operations for $59 million, and Cowes Bay will acquire substantially all of the Company’s Australian assets for $31 million plus assumption of specified liabilities.