Gibraltar closing Hubbell Steel unit, divesting assets

Oct 04, 2007 | 07:42 AM | Philip Burgert

Gibraltar Industries Inc., Buffalo, N.Y., will close its Hubbell Steel service center subsidiary in Franklin Park, Ill., before the end of the year and sell the unit's assets.

Gibraltar expects to take a charge of between $13 million and $16 million, executives said in a statement late Wednesday. The results, including losses resulting from differences between the carrying value and net realizable value of the assets, including goodwill, will be reported as discontinued operations in the company's results for the quarter ended Sept. 30.....

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