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Carlisle Companies Announces Agreement to Purchase 25% of Leading European Roofing Systems Company

20 June 2000

Carlisle Companies Announces Agreement to Purchase 25% of Leading European Roofing Systems Company

    SYRACUSE, NY - Carlisle Companies Incorporated announced today that it is an equity holder in CAIK Holdings which is seeking to acquire Icopal a/s of Denmark. Icopal has recommended acceptance of the invited purchase offer. CAIK Holdings is a consortium of four partners each owning 25%. Icopal is the leading European producer of roofing systems with 1999 sales exceeding $600 million. The total value of the transaction is about $520 million.

    John Altmeyer, President of Carlisle's roofing systems subsidiary, Carlisle SynTec said, "Icopal has built overall European leadership on a country by country strategy. We have been working together to develop a European roofing venture which leverages each company's strengths."

    Carlisle is a diversified manufacturer of products serving construction materials, industrial components, automotive components and general industry markets.