|
contents | news | |||||||||
| Champion Enterprises to acquire Caledonian Building Systems Champion Enterprises, Inc., a leader in factory-built construction, has entered into an agreement to acquire United Kingdom-based Calsafe Group (Holdings) Ltd. and its operating subsidiary Caledonian Building Systems, a leading steel-framed modular manufacturer, for approximately $110 million. The transaction is expected to close early in Champion's second fiscal quarter, and will be accretive to earnings in 2006. Caledonian constructs steel-framed modular buildings for use as prisons, multi-story residences and hotels, as well as military accommodations for the UK Ministry of Defence. The company, which operates three manufacturing facilities on a single site in Newark, UK, recorded revenues of approximately $150 million over the last twelve months. Caledonian's steel-framed modular technology allows for multi-story construction, a key advantage over Champion's core North American wood-framed construction techniques. write your comments about the article :: © 2006 Construction News :: home page |