CHEMFAB CORPORATION ACQUIRED
The Boards of Directors of Chemfab Corporation and Norton Company, a subsidiary of Compagnie de Saint-Gobain, jointly announced the signing of a definitive. agreement under which a subsidiary of Norton Company will acquire all of Chemfab Corporation's outstanding shares. The value of the transaction is approximately $136 million to purchase Chemfab Corporation's shares and approximately $5 million to extinguish outstanding options, plus the assumption of Chemfab's net financial debt, which as of June 30, 2000 was approximately $30 million.
Chemfab is a manufacturer and marketer of engineered products made primarily from specially formulated flexible polymer materials used in the electrical, environmental, food processing, architectural, aerospace and other businesses.
For more information, contact Larry Richard, Chemfab Corporation at 603-424-9000 or William Seiberlich, Norton Company at 610-341-7187.