Acquisitions in the industry continue at a quick pace, with Vesuvius’ latest garnering the most reader attention last week (Vesuvius Acquires Ohio-Based CCPI): “Vesuvius plc recently announced that it has acquired CCPI Inc., a specialty refractories producer focused on tundish (steel continuous casting) applications (65% of sales) and aluminum (35% of sales). Based in Ohio, CCPI will become part of Vesuvius’ Advanced Refractories business unit. The transaction values CCPI at $43.4 million (£33.1 million) on a cash and debt-free basis and will be funded from Vesuvius’ internal resources.
“CCPI’s unaudited revenue and EBITDA for the financial year ended December 31, 2018, were $35.6 million (£27.2 million) and $5.4 million (£4.2 million), respectively. Vesuvius reports that the acquisition will be accretive to its return-on-sales even before synergies are considered.
“‘CCPI is a strategically important acquisition for Vesuvius, which significantly expands Vesuvius’ North American presence in refractories used in steel tundish applications, while also increasing Vesuvius’ exposure to aluminum,’ said Patrick André, chief executive of Vesuvius.”
Top 5 Hottest News Stories for March 3-9
- Vesuvius Acquires Ohio-Based CCPI
- Smith Joins Plibrico as Technical Manager
- Daltile Expands into Roofing Industry with Porcelain Roofing Tile
fourth week in Top 5!
- Morgan Advanced Materials Sees “Good Progress” in 2018
- Strong Second Half Helps Saint-Gobain’s Financial Results for 2018
This weekly roundup highlights the ceramic, glass, refractories, brick and related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.