An educational blog devoted to Florida contruction law topics by Florida Bar Board Certified Construction Lawyer, Trenton "Trent" Cotney. Please visit www.trentcotney.com for more information. Disclaimer below.
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GAF wraps up $1.14B deal for Danish roofing products manufacturer
GAF, a Parsippany-based roofing manufacturer, has closed on its acquisition of a Danish maker of high-end roofing and waterproofing products for approximately $1.14 billion, it announced Monday.
GAF said in a news release that it has acquired Icopal from Investcorp Ltd. for approximately 1 billion euros.
The acquisition will allow for GAF to grow its roofing business “on both sides of the Atlantic,” the release said.
Jim Schnepper, executive vice president of sales at GAF, will become CEO and president of Icopal, GAF’s European operating division. Tom Anderson, senior vice president of planning and supply chain management at GAL, will become chief operating officer.
“GAF and Icopal are an excellent cultural fit, given our shared focus on manufacturing excellence, strong customer service, and innovation,” Bob Tafaro, CEO and president of GAF. “Icopal and its leading roofing and waterproofing brands have a bright future within the GAF family, and we look forward to working together to create world-class value for all of our customers.”
The combined company will have 6,500 employees and approximately $4 billion in sales in 80 countries, GAF said.
The elements necessary to state a cause of action for fraud in the inducement are 1) a false statement concerning a material fact, 2) knowledge by the person making the statement that the representation is false, 3) intent by the person making the statement that the representation will induce another to act upon it, and 4) reliance on the representation to the injury of the other party. Mettler, Inc. v. Ellen Tracy, Inc., 648 So.2d 253 (Fla. 2d DCA 1994). Trenton H. Cotney Florida Bar Certified in Construction Law Glenn Rasmussen Fogarty & Hooker, P.A. 100 S. Ashley Dr., Suite 1300 Tampa, FL 33602 (813) 229-3333 http://www.glennrasmussen.com
A claim for unjust enrichment may be brought against a contractor or owner as an equitable claim to address unexecuted change orders. As the Court stated in Della Ratta v. Della Ratta, 927 So.2d 1055 (Fla. 4th DCA 2006), "to state a claim for unjust enrichment, a plaintiff must plead the following elements:1) the plaintiff has conferred a benefit on the defendant;2) the defendant has knowledge of the benefit;3) the defendant has accepted or retained the benefit conferred;and 4) the circumstances are such that it would be inequitable for the defendant to retain the benefit without paying fair value for it." Trenton H. Cotney Florida Bar Certified in Construction Law Glenn Rasmussen Fogarty & Hooker, P.A. 100 S. Ashley Dr., Suite 1300 Tampa, FL 33602 (813) 229-3333http://www.glennrasmussen.com
Which health and safety
violations occur most often on the job site today? With construction accounting
for one in five workplace deaths in 2014, higher penalty payouts in place and
new rules for tracking and recording violations looming, we asked the Occupational
Safety and Health Administration which rules are broken most often on
construction-related projects. As it turns out, the
worst offenses have largely stayed the same over
time. It should come as little surprise that fall-protection mishaps top
the list. With more than 20,000 incidents reported in the last four years, it
remains the leading cause of death in
construction. Following close behind are faulty ladders and
inefficient eye and face and head protection. This summer, OSHA
announce its interim rule raising maximum civil penalties by
78% to meet the requirements of a federally mandated increase
designed to ensure that the fines reflect inflation. The rule went into effect
on Aug. 1, bumping the maximum fee for serious vio…