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CertainTeed Corporation Completes Acquisition of Celotex Roofing

22 August 2000

CertainTeed Corporation, one of the leading building products manufacturers in North America, announced today that it has completed the acquisition of the roofing and fiber glass mat assets of Celotex Corporation of Tampa, Florida. Terms of the sale were not disclosed. As part of the sale, CertainTeed acquires four asphalt shingle manufacturing plants located in Fremont, California; Los Angeles, California; Birmingham, Alabama; and Cincinnati, Ohio. The sale also includes a fiber glass mat production plant in Russellville, Alabama. This facility will supply fiber glass mat to the newly acquired roofing plants and will be operated by Vetrotex America, a CertainTeed subsidiary and a leading North American manufacturer of fiber glass products for reinforcing plastics and other materials. "This acquisition further strengthens our position as a leading nationwide supplier of residential and commercial roofing products," said Jim Hilyard, president of CertainTeed's Roofing Products Group. "We gain several very popular and distinctive high-end shingle products in Ambassador Shake(TM), Presidential Shake(TM), and Presidential TL(TM), as well as much needed laminated shingle production capacity, and additional vertical integration opportunities with the fiber glass mat line." CertainTeed is headquartered in Valley Forge, Pennsylvania and has approximately 8,000 employees and 49 manufacturing facilities throughout North America.