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Vicwest acquires majority stake in U.S. company All Weather Insulated Panels

The Canadian Press

OAKVILLE, Ont. - Vicwest Inc. (TSX:VIC) said Tuesday it has acquired a majority stake in All Weather Insulated Panels, a U.S. manufacturer of insulated metal panels.

The company said it executed its rights under a US$5-million convertible debenture investment that it made in All Weather in 2010 to take a 56 per cent stake.

All Weather makes insulated metal panels used for industrial, commercial and cold storage construction.

"Solidifying our position in All Weather ensures that we will be able to serve this market growth with a single North American focus," said Paul Lobb, president of Vicwest Building Products.

"By continuing to partner with All Weather's skilled co-founders, we intend to significantly grow and enhance the performance of our IMP business assets in both Canada and the United States."

Vicwest manufactures and distributes building materials including metal roofing, siding, decking, insulated metal panels and architectural panels.