American Residential forms new commercial services division -- American Mechanical Services.HOUSTON--(BUSINESS WIRE)--March 4, 1997--American Residential Services Inc. (NYSE NYSE See: New York Stock Exchange :ARS), the nation's leading provider of residential heating, air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. , plumbing, electrical and appliance services, today announced it has created a new commercial services division, American Mechanical Services Inc. (AMS AMS - Andrew Message System ). "ARS created this division to improve upon and expand its existing heating, air conditioning, plumbing and electrical service Electrical service, in building wiring, refers to the wiring that connects the electric utility's cables in the street to the building. Specifically, electrical service is the wiring from the street, through the meter and up to the panelboard, but no farther. lines to commercial building owners," stated Cliff Wright, ARS president and chief executive officer. Wright further stated, "AMS intends to follow a similar growth strategy to its parent, ARS, including aggressive acquisition of profitable, market-leading companies. We are pleased to have Joe Lechtanski, a 25-year commercial services veteran in this industry, on board to run AMS." "AMS has a tremendous opportunity to participate in the consolidation of the $25 billion commercial services market and realize similar economies of scale on the commercial side as American Residential has achieved in the residential business," stated Lechtanski. American Residential Services is the largest publicly held company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. engaged primarily in providing comprehensive maintenance, repair, replacement and new equipment installation services for heating, air conditioning, plumbing, electrical, indoor air quality Indoor Air Quality (IAQ) deals with the content of interior air that could affect health and comfort of building occupants. The IAQ may be compromised by microbial contaminants (mold, bacteria), chemicals (such as carbon monoxide, radon), allergens, or any mass or energy stressor and major home appliances for residential customers. This press release contains forward-looking statements within the meaning 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. These statements are based on current plans and expectations of ARS and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, among others, risks associated with acquisitions, fluctuations in operating results because of acquisitions and variations in stock prices, competition and risks of operations and integration of the newly acquired businesses. CONTACT: American Residential Services Inc., Houston Jennifer L. Tweeton, 713/599-9015 |
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