Gibraltar’s stockholders have approved a proposal to change the name of the corporation to Gibraltar Industries, Inc. from Gibraltar Steel Corp., effective immediately. Gibraltar will retain its existing Nasdaq stock symbol, ROCK.

Gibraltar said that it has repositioned itself over the last decade as a diversified industrial manufacturing company, with a strong involvement in the building products and thermal processing markets, and its new name better reflects its current business mix and performance characteristics.

"In the nearly 11 years since our initial public offering, we have strategically repositioned Gibraltar, dramatically changing its size, scope, product offering, and geographic coverage, all of which positions the company for even better performance in the future," said Brian J. Lipke, Gibraltar's Chairman and CEO.

"Current annual sales are approaching $1 billion (up nearly six fold since 1993), with a goal to grow sales to $2 billion by 2009, or sooner. Today, we are in some of North America's fastest-growing markets, with 74 facilities in 26 states, Canada, and Mexico (compared to nine facilities in four states, mostly around the Great Lakes, in 1993). We now serve more than 10,000 customers around the globe, including many of the world's largest and most respected companies, compared to 900 customers (mainly in the Northeast) in 1993," said Mr. Lipke.

"We have acquired 22 companies since 1995 (including four so far in 2004), giving us two entirely new business segments: Building Products and Thermal Processing, which today account for more than two-thirds of our sales. In our Building Products segment (which has annualized sales of approximately $500 million), we manufacture more than 5,000 products, and we are North America's leading producer of ventilation products and mailboxes, the second-largest maker of structural connectors, and a national leader in metal building accessories (like metal roofing). Our Thermal Processing segment has annualized sales of approximately $150 million, and we are North America's second-largest commercial heat-treating operation, and a leader in many of the fastest-growing and most technical areas such as aluminum processing, metal joining and assembly, and powdered metal parts processing," said Mr. Lipke.

"We have also continued to grow and strengthen our original business segment, Processed Metal Products, and today we are one of North America's largest processors of cold-rolled strip steel, one of four domestic producers of steel strapping, and a leader in coated steel products," said Mr. Lipke.

"We believe our new name will clearly identify Gibraltar in the minds of our employees, customers, and shareholders as an industrial manufacturing company. We believe that our new name, along with continued strong operating performance, will improve our valuation potential," said Mr. Lipke.

Gibraltar Industries is a leading manufacturer, processor, and distributor of metals and other engineered materials for the building products, vehicular, and other industrial markets. The company serves approximately 10,000 customers in a variety of industries in all 50 states, Canada, Mexico, Europe, Asia, and Central and South America, and is approaching $1 billion in annual sales. It has approximately 4,000 employees and operates 74 facilities in 26 states, Canada, and Mexico.