Armstrong World Industries, Inc. announced it would acquire privately-held Switzerland-based GEMA Holdings AG, a leading manufacturer and installer of metal ceilings. GEMA, with sales of nearly $50 million, has two manufacturing sites located in Austria and Switzerland and employs nearly 300 people. GEMA will become part of the metal ceilings group within the worldwide building products organization, which is led by Armstrong General Manager Robert Collins.
“The acquisition of GEMA will position Armstrong to immediately become a leader in one of the fastest growing segments of the suspended ceilings business,” said Armstrong Executive Vice President and COO Frank A. Riddick.
“The global market for metal ceilings is growing at a rate of 4 to 6% annually–more than twice that of traditional suspended ceiling products. This new addition will immediately add to our portfolio of products, and significantly enhances our position as a total ceilings solutions provider,” said Marc Olivie, president of Armstrong’s Worldwide Building Products Operations.
From officeinsightTM
