Apogee buys Brazilian glass fabricator

NEW YORK (AP) -- Apogee Enterprises Inc., which makes architectural glass products, said Friday that it bought a Brazilian glass fabricator for about $22 million in cash and assumed about $2 million in debt.

Glassec Vidros de Seguranca Ltda. has annual revenues of about $30 million, Apogee said. The Brazilian company will be renamed Glassec Viracon and operate as part of Apogee's architectural glass business.

Apogee CEO Russell Huffer said the deal will help the company expand into the architectural glass market internationally. Huffer said the acquisition could be accretive to Apogee's earnings as early as 2012.

600450 Apogee buys Brazilian glass fabricator glassonweb.com
Date: 24 November 2010
Source: http://finance.yahoo.com

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