MonierLifetile Shrinks to Satisfy FTC

Irvine-based roofing tile maker MonierLifetile LLC has resolved a federal investigation of antitrust issues by selling three concrete roof tile plants--including one in Corona--to Oldcastle Inc. of Atlanta.

Oldcastle has said it intends to keep all three factories operating. The Corona plant employs about 45 workers.

The sale was announced earlier this year, but the deal was approved in late May by the Federal Trade Commission.

The FTC began its investigation last year after building materials giants LaFarge SA of France and Boral Ltd. of Australia formed MonierLifetile as a joint venture to make and market concrete roof tiles. The two companies contributed a total of 16 factories and about 1,500 employees to the joint venture.

With the sale of the factories in Corona, Arizona and Florida, MonierLifetile will have 13 concrete roof tile factories and 1,350 employees.

“Though we were confident we could prove through litigation that the merger is not anti-competitive, we wanted to save our customers and employees the uncertainty and frustration which years of litigation would bring,” said Don Hinshaw, MonierLifetile’s president and chief executive.