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Shawcor to buy storage tank maker ZCL for $235MM

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ShawCor agreed to pay C$312 million ($235 million) to acquire all shares of ZCL Composites Inc., North America’s largest manufacturer and supplier of fiberglass-reinforced plastic underground storage tanks. The Toronto-based company will pay C$10 per share, a 37% premium from the last closing price on the Toronto Stock Exchange.ZCL “gives Shawcor access to an expanded product portfolio and customer base,” Shawcor CEO Steve Orr said. Shawcor has worked to diversify its offerings, building off......
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