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Stock impact report

Gibraltar Sells Renewables Electrical Balance of Systems (eBOS) Business to GameChange Energy Technologies for $70 Million

Gibraltar Industries, Inc. (ROCK) 
Last gibraltar industries, inc. earnings: 2/28 07:30 am Check Earnings Report
Company Research Source: Business Wire
Proceeds of sale to be applied to debt reduction BUFFALO, N.Y.--(BUSINESS WIRE)--Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the residential, agtech, and infrastructure markets, today announced that it has sold its Renewables electrical balance-of-systems (eBOS) business to a subsidiary of GameChange Energy Technologies Corp. for $70 million in cash, subject to customary post-closing adjustments.“The divestiture of our eBOS business is the first step in a two-step process to align the Renewables business with industry leaders who continue to broaden their portfolios,” stated Chairman and CEO Bill Bosway. “Our eBOS technology fills a strategic need for GameChange given their dedication to adding leading edge solutions for their solar customers.”This sale supports Gibraltar’s strategic plan to simplify and focus its asset portfolio on the building products and structures end-markets. The company is also currently in the Show less Read more
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