JS Group reportedly purchases Permasteelisa SpA

Japan's JS Group Corp. has reportedly agreed to purchase Italian building group Permasteelisa SpA for about $870 million, according to a July 5 report from the Nikkei and several other news sources. According to a July 2 Bloomberg report, JS Group beat Italy's Clessidra SGR SpA to purchase the company.

However, officials from JS Group Corp. responded to the Nikkei report saying it is considering various merger and acquisition options, but nothing has been decided, according to the Dow Jones Newswires, as reported in the Wall Street Journal. JS Group officials will disclose details when a decision has been reached, according to the Dow Jones report.

Permasteelisa's North American segment, based in Windsor, Conn., topped Glass Magazine's Top 50 Glazier's list, printed in the June/July issue.