Armstrong World Industries Completes Acquisition of Steel Ceilings, Inc.
Company Press Release
Armstrong World Industries, Inc. (“AWI”), announced it has completed the acquisition of Steel Ceilings, Inc. (“SCI”), a manufacturer of standard and custom aluminum and stainless metal ceilings that include architectural, radiant, and security solutions. SCI has annual sales of approximately $10 million. This acquisition advances AWI’s strategy to aggressively penetrate the architectural specialties segment and provide additional capabilities to sell into more spaces and sell more into every space. SCI is located in Johnstown, Ohio, near Columbus.
AWI CEO Vic Grizzle said, “Acquiring SCI was a natural decision for us. With their architectural, radiant and security solutions, we expand our manufacturing capacity and overall capability to meet the growing demand for metal ceilings. It’s a great addition to our architectural specialties ceilings portfolio, and we are delighted to have the team on board.”
AWI will continue to serve existing SCI customers out of the Ohio facility. AWI funded the acquisition with available cash. Financial terms of the transaction were not disclosed.
About Armstrong World Industries
Armstrong World Industries, Inc. (NYSE:AWI) is a global leader in the design and manufacture of innovative commercial and residential ceiling, wall and suspension system solutions.
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Source: Armstrong World Industries, Inc.