Monierlifetile to sell 3 plants in answer to ftc complaint
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An Irvine-based manufacturer of concrete roofing tiles, a joint venture of building materials giants LaFarge SA and Boral Ltd., said it plans to put three plants up for sale in hopes of
resolving an antitrust complaint filed by the Federal Trade Commission. MonierLifetile LLC said it has hired the investment banking firm Donaldson, Lufkin & Jenrette to explore the sale
of plants in Corona; Fort Lauderdale, Fla., and Casa Grande, Ariz. The FTC contends the venture could lessen competition, reduce quality and lead to higher market prices for concrete roofing
tiles. Don Hinshaw, MonierLifetile president and chief executive officer, said that if the dispute can’t be resolved, the company believes it can show in a trial that “the merger is
beneficial to our customers and is in no way anti-competitive.” MORE TO READ