SERVICE SECTOR / Shaw Industries Ltd. Completes Acquisition of DM40
Million European Heat Shrink Business
TORONTO, Jan. 5 /CNW/ - Shaw Industries Ltd. (TSE - SHL.A SHL.B) today
announced that, effective December 31, 1998, the acquisition of DSG
Schrumpfschlauch GmbH, a German privately held developer and manufacturer of
heat shrink products, was completed. Sales volume of DSG for the 1998 calendar
year was in the range of Deutsche Marks 40 million.
DSG is a leading developer, manufacturer and supplier of heat shrink
products primarily to the European market with research, development and
manufacturing facilities located in Meckenheim and Langewiesen, Germany and
Czluchow, Poland.
DSG is an important acquisition as Shaw Industries continues to pursue
its strategy of achieving a leading global position in all of its major
business segments. DSG will become a unit within the company's Canusa-EMI heat
shrinkable products division and will provide added global breadth as well as
additional development capabilities and a range of new products which will be
manufactured and marketed in other geographic areas served by Canusa-EMI.
Shaw Industries is a major supplier to the energy industry providing
products and services for exploration and production, pipeline, petrochemical
and industrial markets. The company operates through seven wholly owned
divisions and its 50/50 pipe coating joint venture, the Bredero-Shaw Group. |
