September 24, 2004
Simpson Manufacturing Co., Inc. Announces the Completion of the Acquisition of Quik Drive
Dublin, CA --
Simpson Manufacturing Co., Inc. (the "Company") announced that its subsidiary, Simpson Strong-Tie Company Inc. completed the acquisition of the assets of Quik Drive, U.S.A., Inc. and Quik Drive Canada, Inc. and 100% of the equity of Quik Drive Australia Pty. Limited (collectively "Quik Drive"). Quik Drive manufactures collated fasteners and fastener delivery systems which are marketed in the U.S. , Canada , Australia and New Zealand . The cost (subject to post-closing adjustment) of the acquisition was $30.0 million in cash and $5.0 million in stock.
Simpson Manufacturing Co., Inc., headquartered
in Dublin, California, through its subsidiary, Simpson Strong-Tie
Company Inc., designs, engineers and is a leading manufacturer
of wood-to-wood, wood-to-concrete and wood-to-masonry connectors
and pre-fabricated shearwalls. Simpson Strong-Tie also offers
a full line of adhesives, mechanical anchors and powder actuated
tools for concrete, masonry and steel. The Company's other subsidiary, Simpson Dura-Vent Company, Inc., designs, engineers and manufactures venting systems for gas and wood burning appliances. The Company's common stock trades on the New York Stock Exchange under the symbol "SSD."
further information, contact Barclay Simpson at (925) 560-9032.
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