FOR IMMEDIATE RELEASE

NEWS RELEASE

DATE:

Dec. 19, 2008

Released for:

MiTek Inc.

for more info:

Michelle Mason/Claire Goldfarb, Hughes, 314.571.6300 (office), 314.368.6780 (cell) or mmason@hughes-stl.com

Gregg Renner, MiTek, 314.851.7446

 

 

MiTek Acquires Full Ownership of Aegis Metal Framing

 

Global company adds supplier of cold-formed steel truss and panel technology to family of companies

 

ST. LOUIS – -MiTek Industries Inc. has announced that it will acquire full ownership of Aegis Metal Framing LLC, an industry leader in pre-fabricated cold-formed building components for the commercial, institutional and residential markets. Terms of the deal were not disclosed.

 

Aegis was launched in 2002 as a joint venture of Dietrich Metal Framing and MiTek. When this transaction closes in early January 2009, Aegis will become a wholly owned division of MiTek. The entire Aegis team will remain in place to support continuing operations and capitalize on growth opportunities as the commercial construction market recovers.

 

“We are delighted to solidify our relationship with Aegis even further as a part of the MiTek family of companies,” stated Gene Toombs, chairman and CEO of MiTek. “Our six-year relationship with Aegis has resulted in a thorough understanding of the company’s products and services. We share many of the same customers and are confident this acquisition will benefit everyone involved.”

 

“The integration into MiTek will bring tremendous downstream opportunities for Aegis customers,” said Tom Valvo, Aegis’ president. “We will be fully supported by the world’s largest supplier of technology-enabled solutions for the building components industry. MiTek’s software development resources are unrivaled in the industry, and Aegis will leverage these to further advance our own software offerings, including our next-generation software initiatives. Additionally, in these uncertain economic times, having Aegis as part of MiTek and Berkshire Hathaway will help ensure continuity of supply and financial backing that is second to none.”

 

Aegis Metal Framing provides a complete line of cold-formed steel framing products, including the Ultra-Span® truss system, TradeReady® floor joists (produced by Dietrich) and WallSolutions™ pre-fabricated panels. For more information, visit www.aegismetalframing.com.

 

MiTek is the world's leading supplier of state-of-the-art engineered connector products, equipment, software and services for the residential building components industry. MiTek’s component fabricators lead the industry in delivering prefabricated trusses and wall panels to the residential housing industry. With operations on five continents, MiTek is a global operation serving customers in more than 90 countries. Headquartered in Chesterfield, Mo., it is a subsidiary of Berkshire Hathaway Inc. For more information about MiTek, visit www.mii.com.

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Editor’s Note:        Aegis Metal Framing LLC is headquartered at 14515 N. Outer 40 Drive, Suite 110, Chesterfield, MO 63017.