IKO Announces Sale of Fiberboard Business

Leading North American manufacturer of roofing materials makes sale to Western Louiseville Fiberboard Inc.

CALGARY, Oct. 15 /CNW/ - IKO, a North American pioneer in the residential and commercial roofing business, announced today that it has finalized the sale of its fiberboard production business in Calgary to Western Louiseville Fiberboard Inc.  The agreement, first announced by WLF last week, was finalized today.

"We are pleased that we have been able to conclude this agreement with Western Louiseville Fiberboard," notes Derek Fee, Manager - Corporate Communications for IKO.  "The deal is good for everyone, as it provides WLF with a footprint in Calgary, allows IKO to continue to focus on its core business in roofing products, and secures the jobs provided by the plant for the Calgary industrial community into the future.  We wish WLF and the fiberboard employees continued success."

About IKO

Established over 50 years ago, IKO remains a family-run business, engaged in the manufacture and sale of asphalt roofing materials. It is a vertically integrated roofing company, producing many of the raw materials used in manufacturing its shingles, such as mineral stabilizer, roofing granules, fiberglass strands, and fiberglass mat.    Most key components are manufactured within IKO's family of companies, under its own stringent quality assurance. This provides superior quality assurance over all its finished products. The IKO family of companies has over 25 manufacturing plants throughout the United States, Canada and Europe.

Copyright 2010 IKO . All rights reserved.  For media or industry analyst support, please visit our website at http://www.iko.com

For further information:

Derek Fee, Manager of Corporate Communications
IKO
Ph:  [phone]
Email: [email protected]