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Foundation Building Materials Divests Mechanical Insulation Business For $122.5 Mln

Foundation Building Materials (FBM), a specialty distributor of wallboard, suspended ceiling systems and mechanical insulation, said early Thursday that it has entered into a definitive agreement to sell its Mechanical Insulation segment to an affiliate of Dunes Point Capital, LP, for $122.5 million, subject to customary closing conditions. The transaction is expected to close in Q4. The company said that […]

Asian Stock Markets Mixed, Lower on Central Bank Outlook

Asian stock markets were mostly weaker on Thursday as traders eyed a string of Asian central banks in the rate-hike mode, possibly resulting in higher bond yields and lower property-developer gains in coming seasons. The Hong Kong, Indonesia and Philippines central banks all raised rates in reaction to the Wednesday US Federal Reserve rate increase, although the People’s Bank of […]