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Owens Corning to sell masonry division
Owens Corning has signed an agreement to sell its masonry division, which makes Owens Corning Cultured Stone exterior siding, to Boral Industries in a two-part transaction, the company announced.
The building products supplier will sell a 50% stake in its masonry products unit to Boral Industries for $45 million at closing, and the unit will then be operated jointly until early 2014. At that time, Owens Corning will sell its remaining 50% stake for $45 million and may receive additional proceeds dependent upon 2013 financial performance.
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Activant, LMC extend agreement
Activant Solutions Inc. and Lumbermens Merchandising Corp. (LMC) have announced an expansion of their 20-year marketing relationship, which will offer the building materials co-op access to the Activant Eagle system and the Activant Catalyst platform. More than half of LMC’s 360 members run their businesses on Activant Solutions, according to the announcement.