A subsidiary of Building Materials Corp. of America (BMCA) announced today it has completed acquiring substantially all of the assets of Correct Building Products, a Biddeford, Maine-based manufacturing of composite decking and railing. Correct's will become part of BMCA's newly formed GAF Decking Systems business, which produces the CrossTimbers decking and RailWays railing collections.
The acquisition was effective Aug. 28, BMCA said. BMCA calls itself North America's largest commercial and residential roofing manufacturer, with sales approaching $3 billion.
"This acquisition will provide GAF with a more comprehensive offering of composite decking and railing, supported by a top-notch sales force, two of the best manufacturing facilities in the industry, the strongest customer service, and outstanding marketing support and advertising," BMCA's announcement said. "Moving forward, GAF will continue to offer both the CrossTimbers and CorrectDeck products, each of which serves a unique market segment."
Correct had announced the sale on July 2. As part of the transaction, it filed for reorganization under Chapter 11 of the federal bankruptcy laws and sought a sale under the bankruptcy code's Section 363, which allows for the sale of assets free of liens and other claims.