Talk About Oldcastle-Vistawall Marriage Heats Up
Despite strong denials from both parties, the industry rumor mill is rampant
with speculation that Oldcastle Glass, in Santa Monica, CA, is in negotiations
to buy The Vistawall Group, in Terrell, Texas. The deal would pair Oldcastle,
a top three glass provider, with, Vistawall, a top three metal supplier.
"It's a pretty monumental deal just in pure size," says
one industry observer. "They [Oldcastle] have very little impact
on the metal side, but this would put them waist deep into the metal
side of industry. I think it would definitely improve their position."
BlueScope Steel, Vistawall's Australian-based parent company put
the firm on the block earlier this year, according to one person
involved in the bidding process. In the past week, that insider
said BlueScope told him bidding was closed. During the same timeframe,
Oldcastle has telling been telling suppliers that it's on the verge
on announcing a major deal.
Right now, both Vistawall and Oldcastle are denying that they're
in talks. Susan Trimble, director of Corporate Communications for
Oldcastle, said she had no knowledge of the talks and had no comment.
A company spokesperson from BlueScope wouldn't comment on "rumor
"We currently operate successful businesses throughout North America (North
Star BlueScope Steel, Butler Buildings and Vistawall)," the spokesperson
said in a prepared statement. "BlueScope Steel is committed to growing our
North American business. In the last four years, BlueScope Steel's North American
employee base has grown from 40 people to 4,000. It is a market that we are 100
percent committed to."