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Steel & Tube buys Composite Floor Decks for $13.3 mln- The 18th China(Guangzhou ) Int’l tube & pipe Processing Equipment Exhibition
10/19/2016 steel tube expo-tube &pipe expo |
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BusinessDesk reported that Steel & Tube Holdings will buy Composite Floor Decks, which supplies and installs composite floor decking, for NZD 13.3 million, with a further NZD 3 million possible based on its performance over the next two years.
Steel & Tube said in a statement that the company has been Steel & Tube’s distributor and installer of composite metal floor decking since 2005. It had 2016 revenue of NZD 18 million and NZD 4.3 million in earnings before interest, taxation, depreciation and amortisation, while the forecast for the 2017 financial year is revenue of NZD 22 million and ebitda of NZD 5.5 million.
Mr Dave Taylor CEO said that “With Steel & Tube having the license to manufacture and market ComFlor, the acquisition means we enhance our supply chain capabilities, creating an end-to-end process from manufacture through to installation. The purchase will be completed on October 31.”
- The 18th China(Guangzhou ) Int’l tube
& pipe Processing Equipment Exhibition
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