Dayton Superior Announces Strategic Divestiture of Its Dur-O-Wal Product Line

DAYTON, Ohio--(BUSINESS WIRE)--Dayton Superior Corporation, the leading North American provider of specialized products for the nonresidential concrete construction market, today announced that it has reached an agreement to sell its Dur-O-Wal line of masonry construction products to Hohmann & Barnard, Inc., a subsidiary of MiTek, Inc. The agreement provides for the transfer of the Dur-O-Wal business to Hohmann & Barnard effective April 23, 2010, and will result in the closure of Dayton Superior’s Aurora, Illinois, manufacturing facility. The transaction is subject to customary closing conditions. Terms of the sale are not being disclosed.

“This more focused business model will provide better transparency into our concrete products operations and improved liquidity for expansion as we operationalize our strategic plan. We will continue manufacturing and distributing concrete accessories, formworks and chemicals, and we remain focused on providing outstanding product support and customer service.”

"With this divestiture of our Dur-O-Wal product line, our management team and employees will focus on pursuing the growth opportunities related to our core product lines; those that are concrete construction related," said Rick Zimmerman, President and Chief Executive Officer. "This more focused business model will provide better transparency into our concrete products operations and improved liquidity for expansion as we operationalize our strategic plan. We will continue manufacturing and distributing concrete accessories, formworks and chemicals, and we remain focused on providing outstanding product support and customer service."

ABOUT DAYTON SUPERIOR CORPORATION

Dayton Superior is the leading North American provider of specialized products consumed in nonresidential, concrete construction, and we are the largest concrete forming and shoring rental company serving the domestic, nonresidential construction market. Our products can be found on construction sites nationwide and are used in nonresidential construction projects, including: infrastructure projects, such as highways, bridges, airports, power plants and water management projects; institutional projects, such as schools, stadiums, hospitals and government buildings; and commercial projects, such as retail stores, offices and recreational, distribution and manufacturing facilities.