Aduddell Industries Signs Definitive Purchase Agreement to Acquire New York Roofing Companies.OKLAHOMA CITY Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm -- Aduddell Industries, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ADDL ADDL Additional ADDL Animal Disease Diagnostic Laboratory (University of the Philippines, College of Veterinary Medicine) ADDL American Double Dutch League ADDL Amyloid Beta-Derived Diffusible Ligand ) today announced that it has signed a definitive purchase agreement to acquire Hayden Building Maintenance, Inc. as well as Hudson Valley
The Hudson Valley refers to the canyon of the Hudson River and its adjacent communities in New York State, generally from northern Westchester County northward to the cities of Albany and Troy. Roofing and Sheet Metal, Inc., privately held commercial roofing companies in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Hayden Building Maintenance has an additional office in New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded that is currently actively involved in commercial roofing related to disaster response. It is anticipated closing will occur on or before March 15, 2007. The acquisition is expected to add approximately $35 to $40 million in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue and be accretive to calendar 2007 earnings along with significant opportunities for leveraged growth in our other divisions. Details of the acquisition are outlined in our 8K filed with the Securities Exchange Commission on Monday, January 8, 2007. The purchase completes Aduddell Industries previously defined objective of moving into the North East roofing market. The North East market and specifically the New York market, has a tremendous annual workload as well as being the headquarters for a number of national property management, construction and engineering companies. The proximity to these large national firms significantly increases the marketability of our national asset management program. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Stan Genega, C.E.O. and President of Aduddell Industries, "We are very pleased to have organizations as talented and recognized in the industry as these two, and tremendously excited to have their founder, Greg Hayden, as a key member of our management team. With Mr. Hayden operating as president of the North East region, we are confident he will make significant contributions to our company's growth and profitability for years to come. With this transaction our pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenue for 2006 should exceed $80 million dollars, surpassing our original forecast. We are confident this transaction will be beneficial to our shareholders, customers and employees." About Aduddell Industries Aduddell Industries, Inc. is the holding company of Aduddell Roofing, www.aduddell.com, one of the leaders in the commercial roofing industry nationwide. Through Aduddell Roofing and other subsidiaries, Aduddell Industries offers Fortune 500 companies and large governmental agencies a broad range of roofing services, sheet metal fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , restoration services and above and below grade waterproofing. In addition to work on large projects and high security construction matters, the company has a nationally recognized track record for handling disaster recovery and emergency projects efficiently and cost effectively. More information about Aduddell Industries can be found at www.aduddell.com. FORWARD-LOOKING STATEMENTS We believe that some of the information in this release constitutes forward-looking statements within the definition of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. You can identify these statements by forward-looking words such as "may," "expect," "anticipate," "contemplate," "believe," "estimate," "intends," and "continue" or similar words. You should read statements that contain these words carefully because they: * discuss future expectations; and * contain projections of future results of operations or financial condition. There may be events in the future that we are not able to predict accurately or over which we have no control. The risk factors and cautionary language discussed in our Form 10-K/A (for the year ended December 31, 2006), which is incorporated herein by reference, provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations described by us in such forward-looking statement. Particular factors that should be considered in relation to the acquisitions include: * The general uncertainties that acquisitions entail; * possible changes in customer demand; * the ability to manage rapid growth; * our business strategy and plans; and * the results of future financing efforts. |
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