Canadian Plastics

U.S. company to acquire GSW (February 01, 2006)

A.O. Smith Corp of Milwaukee announced it has made a bid to acquire Oakville, Ont.-based GSW Inc. from its majority shareholders. The potential deal is worth some $395.5 million....

February 1, 2006   Canadian Plastics



A.O. Smith Corp of Milwaukee announced it has made a bid to acquire Oakville, Ont.-based GSW Inc. from its majority shareholders. The potential deal is worth some $395.5 million.

A.O. Smith said it will pay some $115 a share for stock held by GSW’s two major shareholders.

GSW has two business segments — Water Products and Building Products. Some 1,700 people are employed with GSW, with 500 in the water heater plant in Fergus, Ont., and another 1,100 in the Johnson City Tenn.-based water heater plant; and 100 employees in Barrie, Ont. who work for GSW’s thermoplastic forming and building materials manufacturing operations.

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