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For further details see our joint press release.
Norton Company, an indirect wholly owned subsidiary of Compagnie de Saint-Gobain (Paris), today announced the successful completion of its tender offer, made through an indirect wholly owned subsidiary, PPLC Acquisition Corp., for all of the outstanding shares of common stock of Chemfab Corporation at $18.25 per share. The offer expired, as scheduled, at 12:00 midnight (EDT) on Tuesday, August 29, 2000. Norton and Chemfab Corporation will now proceed to complete a merger pursuant to which PPLC will merge with and into Chemfab and Chemfab will become an indirect wholly owned subsidary of Norton Company. Norton Company is an indirect wholly owned subsidiary of Compagnie de Saint-Gobain. A worldwide manufacturer serving a broad range of industries, Norton is a leading manufacturer of abrasives, and produces technologically advanced ceramics, plastics and chemical process products. Norton’s subsidiary, Saint-Gobain Performance Plastics Corporation, processes high-performance plastics and elastomers into flexible foams, bearings, tubing and fluid handling systems, films, sealants and pressure-sensitive tapes. Chemfab is an international manufacturer and marketer of engineered products based on its expertise and technology in flexible polymeric composite materials.
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