DOJ Sues to Block Crane Selling Subsidiary to Verzatec

The Department of Justice said filed a civil lawsuit to block Crane selling its subsidiary, Crane Composites, to Verzatec, alleging it would monopolize the market for pebbled wall panels and harm American businesses.

• DOJ alleges the proposed $360 million transaction would harm competition in production and sale of pebbled fiberglass reinforced plastic (FRP) wall panels, whose product and performance characteristics make it the wall covering of choice for many restaurants, grocery stores, hospitals and convenience stores
• Verzatec is a privately held Mexican corporation with its headquarters in Monterrey, Mexico. Stabilit America Inc. is a wholly-owned subsidiary of Verzatec ...