MAAX Completes the Acquisition of Aker Plastics

02 November 2002

MAAX Inc has finalized the acquisition of the shares of Aker Plastics Company, Inc., the third largest manufacturer of fiberglass bathroom products in the United States.

Solidly established since 1967, Aker Plastics also manufactures acrylic bathroom products. It operates three plants: one in Martinsburg, West Virginia, and two in Plymouth, Indiana. Together they cover a total area of 365,000 square feet and employ some 800 people. The Company serves a distribution network of plumbing wholesalers and benefits from an excellent reputation for quality and service.

The transaction is for a total consideration of US$78 million subject to certain adjustments, including US$64 million on the closing and US$14 million in notes payable over a three-year period. MAAX Inc. is a leading North American manufacturer of bathroom products and accessories, spas and kitchen cabinets.

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