Standard Industries Positions Schiedel for Future Growth

Spin Off from BMI Group Strengthens Business Opportunities for Europe’s Leading Maker of Chimney Systems

NEW YORK, NEW YORK, July 24, 2018 – Standard Industries, a global industrial company, today announced that Schiedel, its European chimney, stove and ventilation business, will become a stand-alone operation within Standard Industries. As a result, Alessandro Cappellini, President of Schiedel, will report directly to Dick Nowak, Chief Operating Officer of Standard Industries. Schiedel had been operating as a part of BMI Group, Standard’s leading European roofing company. “This next step in Schiedel’s continued evolution will strengthen their ambitious growth plans and help expand their residential and non-residential market leadership across Europe,” said Standard Industries Co-CEO David Winter. “Becoming a stand-alone company within Standard Industries will sharpen their focus and help unlock significant business opportunities organically and through strategic investment,” said Standard Industries Co-CEO David Millstone. Schiedel’s award winning stove systems bring energy- and cost-efficient heating to modern homes of all sizes across Europe. Our hundreds of global landmark projects range from football stadiums to distribution centres of premium sports car manufacturers, and industrial mega projects including oil refineries and airports.

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About Standard Industries

Standard Industries is a privately held global industrial company operating in over 80 countries with over 20,000 employees. The Standard ecosystem spans a broad array of holdings, technologies and investments—including both public and private companies from early to late-stage—as well as world-class building solutions, performance materials, logistics, real estate and next-generation solar technology. Throughout its history, Standard has leveraged its deep industry expertise and vision to create outsize value across its businesses, which today include operating companies GAF, BMI, Grace, GAF Energy, Siplast, Schiedel, SGI, and Standard Logistics, as well as Standard Investments and Winter Properties. Learn more at standardindustries.com.