Tyman takeover by Quanex Building Products nears completion
Shareholders Approve Acquisition, Expected To Be Finalised in August Move brings Quanex closer to its strategic goal of becoming a leading building products provider with a diverse geographical presence, broader product range and larger customer base.
Shareholders Approve Acquisition, Expected To Be Finalised in August
Move brings Quanex closer to its strategic goal of becoming a leading building products provider with a diverse geographical presence, broader product range and larger customer base.
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Company News<br />
<strong>Tyman</strong> <strong>takeover</strong> <strong>by</strong> <strong>Quanex</strong> <strong>Building</strong><br />
<strong>Products</strong> <strong>nears</strong> <strong>completion</strong><br />
Shareholders Approve Acquisition, Expected To Be Finalised in August<br />
Move brings <strong>Quanex</strong> closer to its strategic goal of becoming a leading building<br />
products provider with a diverse geographical presence, broader product range and<br />
larger customer base.<br />
Mr George Wilson,<br />
Chairman, President and Chief Executive Officer of <strong>Quanex</strong><br />
<strong>Quanex</strong> <strong>Building</strong> <strong>Products</strong><br />
Corporation, based in<br />
Houston, Texas, announced<br />
on July 12 that the planned<br />
acquisition of <strong>Tyman</strong> plc has been<br />
approved <strong>by</strong> the shareholders of both<br />
companies.<br />
The transaction is still subject to<br />
customary closing conditions and is<br />
expected to be finalised in August this<br />
year.<br />
<strong>Tyman</strong> is an international supplier<br />
of hardware and sealing solutions<br />
for doors and windows as well as<br />
access solutions for the construction<br />
industry. Headquartered in London,<br />
the group employs around 3,600<br />
people and has subsidiaries in 15<br />
countries worldwide. The brand<br />
portfolio is distributed via three<br />
regional business units in Europe, the<br />
UK and Ireland, and North America.<br />
The <strong>Quanex</strong> Group’s presence<br />
in the European market includes<br />
its subsidiary Edgetech Europe, a<br />
provider of foam-based, metal-free<br />
spacer systems based in Heinsberg,<br />
North Rhine-Westphalia.<br />
“The integration of the high-quality<br />
<strong>Tyman</strong> brand portfolio brings us a<br />
major step closer to our strategic<br />
goal of creating a leading solution<br />
provider of building products<br />
with a more diverse geographical<br />
presence, a broader product range,<br />
and a larger customer base. We<br />
will also benefit internally from the<br />
expanded engineering, design, and<br />
manufacturing capabilities,” said<br />
George Wilson, Chairman, President,<br />
and Chief Executive Officer of<br />
<strong>Quanex</strong>.<br />
About <strong>Quanex</strong><br />
<strong>Quanex</strong> is a global manufacturer<br />
with core competencies and a wide<br />
range of applications in various end<br />
markets. The company works with<br />
leading OEMs to provide innovative<br />
solutions in the areas of windows,<br />
doors, plastic fencing, solar panels,<br />
refrigerators, and cabinets.<br />
About <strong>Tyman</strong><br />
<strong>Tyman</strong> is a leading international<br />
supplier of technical window<br />
components and access solutions<br />
for the construction industry. The<br />
group designs and manufactures<br />
products that improve the comfort,<br />
sustainability, security, and aesthetics<br />
of residential and commercial<br />
buildings.<br />
Email: info@edgetech-europe.com<br />
Website: www.superspacer.com,<br />
www.quanex.com<br />
Glass Bulletin | July - September, 2024<br />
77
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