81

News

US roofing giant acquires European leader Icopal

TheCopenhagenPost
January 25th, 2016


This article is more than 8 years old.

After the sale GAF will become the world’s biggest roofing company

GAF’s CEO praised Icopal’s “super-quality products” (photo: Icopal)

The Danish roofing company Icopal has been sold to North America’s largest company in the industry, GAF, for 1 billion euros (almost 7.5 billion kroner).

Founded in 1876, Icopal has been owned by the Dubai-based investment company Investcorp since 2007 and has grown to be one of Europe’s leading producers of roofing products. The sale to GAF will result in the world’s biggest roofing company, with 65 production facilities worldwide, 6,500 employees and a turnover of 4 billion dollars (about 27.5 billion kroner).

CEO: good for stakeholders
Miguel Kohlmann, the CEO of Icopal, sees distinct advantages for the company’s stakeholders.

“GAF’s long tradition of innovation and commitment to top quality and customer focus complements Icopal’s strengths and values,” he said.

“Our customers will benefit a lot from economies of scale, a wider selection of products and services, increased product innovation and a unique global distribution network. Our employees will get new exciting opportunities working for a genuinely global company.”

Bob Tafaro, the head of GAF, sees the acquisition as giving the company the size and strength to lead the industry on both sides of the Atlantic.

“We have enormous respect for Icopal’s competent leadership and we welcome all Icopal employees to the GAF family,” he said.

“Icopal has established itself as a leading company in Europe with a strong business mix and a well-deserved reputation for super-quality products, services and employees.”


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”