Asahi Kasei completes acquisition of Erickson Framing Operations LLC
Asahi Kasei Homes Corp.
Asahi Kasei Homes has completed its acquisition of Erickson Framing Operations LLC (Erickson) on November 30, 2018, US Eastern time, for an acquisition price of approximately US$91 million (approximately ¥10.3 billion at November 30 exchange rate of ¥113 per US$).
Asahi Kasei Homes announced the decision to acquire Erickson on November 5, 2018. With the completion of all requisite procedures, Erickson is now a wholly owned consolidated subsidiary of Asahi Kasei Homes.
Erickson will continue to be managed by its current executive team led by CEO Rich Gallagher. The impact on consolidated financial performance of the Asahi Kasei Group will be disclosed without delay as necessary.