Gibraltar completes AMICO acquisition

Gibraltar completes AMICO acquisition

Gibraltar Industries Inc announced yesterday that it completed the acquisition of Alabama Metal Industries Corporation (AMICO) for approximately $240 million. The AMICO acquisition will diversify Gibraltar's customer base, products, and distribution network. In line with the acquisition deal, AMICO will now operate as a wholly owned subsidiary of Gibraltar within its Building Products segment. “The AMICO acquisition gives us annualized sales of approximately $1.4 billion, moving us much closer to our goal of annual sales of $2 billion or more by 2009, or sooner. More importantly, its gross and operating margins are in line with or above Gibraltar's long-established targets, and we believe they are not only sustainable, but offer good opportunities for synergistic improvements,” said Brian J. Lipke, Gibraltar's Chairman and Chief Executive Officer.