Royal Group Acquired by Georgia Gulf
October 05 2006 - 4:20PM
PR Newswire (US)
- Calls Medium Term Notes TORONTO, Oct. 5 /PRNewswire-FirstCall/ --
Royal Group Technologies Limited today confirmed that Georgia Gulf
Corporation (NYSE:GGC) completed its acquisition of Royal Group on
October 3, 2006. Under the terms of the definitive agreement,
originally announced on June 9, 2006, Georgia Gulf has acquired all
of the outstanding common stock of Royal Group for C$13.00 per
share in cash. The common shares of Royal Group ceased trading on
both the Toronto Stock Exchange and New York Stock Exchange on
October 4, 2006. Royal Group also announced that it has called for
redemption of its outstanding 6.90% Medium Term Notes on November
3, 2006. Georgia Gulf's existing management team will serve as
executives of the combined company. Four senior executives of Royal
Group including Lawrence Blanford, President and CEO, James Lawn,
Chief Financial Officer, Daryl Wilson, Senior Vice President of
Manufacturing, Engineering and Development, and Bradley Holcomb,
Senior Vice President of Global Materials and Supply have passed
their responsibilities to senior executives of Georgia Gulf
Corporation, coincident with completion of the acquisition. Royal
Group is a leading producer of home improvement and building
products. Royal Group is now owned by Georgia Gulf Corporation,
which is a public company headquartered in Atlanta, with its shares
trading on the New York Stock Exchange under the symbol GGC.
DATASOURCE: Royal Group Technologies Limited CONTACT: Georgia Gulf
Corporation, Angie Tickle, Investor Relations, (770) 395-4520; Will
Hinson, Legislative, Community and Public Affairs, (225) 685-2501;
Royal Group Technologies Limited, Mark Badger, Investor Relations,
(905) 264-0701
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