MonierLifetile to Sell 3 Manufacturing Plants
Irvine-based MonierLifetile LLC said Tuesday that it will sell three of its concrete roof tile manufacturing plants, including one in Southern California, as part of an agreement with the Federal Trade Commission to resolve an ongoing antitrust investigation.
The probe was launched last year after MonierLifetile was formed as a joint venture of building materials giants LaFarge SA of Paris and Boral Ltd. of Sydney, Australia.
MonierLifetile said that Oldcastle Inc. of Atlanta will acquire the three plants--in Corona, Casa Grande. Ariz., and Ft. Lauderdale, Fla. Terms of the sale were not disclosed.
Oldcastle, a major construction materials maker with a roof tile plant in Denver, has said that it will keep all three plants operating and doesn’t anticipate major staffing changes.
The facilities, which employ a total of 160 workers, including 45 in Corona, will be sold to Oldcastle following the final acceptance of the consent agreement by the FTC.
MonierLifetile will retain 13 concrete roof tile factories, a spokesman said. The factories have about 1,350 employees.
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