Addition of French waterproofing manufacturer increases global leader's European reach
ANTWERP, Belgium, Oct. 2, 2020 /PRNewswire/ -- IKO, a global leader in the manufacture of residential and commercial roofing products and insulation has announced today that it has struck a deal in which it intends to acquire Axter's waterproofing membrane division from the SMAC group.
An information and consultation process is currently underway with the relevant stakeholders and will be completed before the deal can be finalized.
"IKO's purchase of AXTER's waterproofing membrane division will complement its industry leading position in the European waterproofing and insulation business, and add a leading player in the French market to IKO's growing international footprint," stated Hartley Koschitzky, CEO of IKO's European operations. "We are excited for the opportunity this acquisition presents for IKO both in France as well as our ability to leverage both AXTER's talent and technology across our global organization."
About IKOFor nearly 70 years, IKO has been a pioneer and leader in the global roofing and related waterproofing and insulation industry for residential and commercial markets. A family-owned business for four generations, IKO remains rooted in its founding values of integrity and performance and provides best-in-class products, services and value. IKO has a commitment to innovation that strives to meet the ever-changing needs of its customers. That commitment, along with a continual investment in technology, local sourcing and vertical integration is roofing, elevated. For more information on IKO and its full line of product solutions, visit www.iko.com.
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Derek Fee, Manager – Corporate Communications, IKO, 602-1 Yorkdale Road, Toronto ON, 1-416-780-5898, Email: email@example.com