Beacon Roofing Supply Announces Acquisition of Ohio-based North Coast Commercial Roofing Systems, Inc.PEABODY, Mass. -- Beacon Roofing Supply, Inc. (Nasdaq: BECN (Backward Explicit Congestion Notification) A frame relay message that notifies the sending device that a congestion avoidance procedure should be initiated. See FECN. ) ("Beacon") announced today that it has entered into a definitive agreement to acquire North Coast Commercial Roofing Systems, Inc. and certain of its subsidiaries and affiliates (together "North Coast"), a Twinsburg, Ohio-based distributor of commercial roofing systems and related accessories, with 16 locations in eight U.S. states. North Coast has branches in Ohio, Illinois Ohio is a village in Bureau County, Illinois, United States. The population was 540 at the 2000 census. Geography Ohio is located at (41.556900, -89.460995)GR1. , Indiana, Kentucky, Michigan, 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 , Pennsylvania and West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. . There is minimal overlap with Beacon's existing locations. North Coast is the largest distributor of commercial roofing products in the Midwest and also presents Beacon with its first locations in three states: New York, Ohio and West Virginia. Established in 1986, North Coast employs 197 associates and generated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of approximately $253 million for its latest completed fiscal year ended March 31, 2006. Along with its product sales, North Coast offers customers a number of important value-added services, including tapered insulation design, crane services for rooftop delivery and roofing consulting and design services. It will operate as a separate region under the North Coast name within Beacon's growing family of established regional suppliers of roofing and exterior building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . . Completion of the acquisition is subject to regulatory and other customary approvals and is expected to occur in early April 2007. For more information on North Coast, you may visit: http://www.nccrs.com. For more information on Beacon, you may visit http://www.beaconroofingsupply.com. David Moorhead, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of North Coast, stated, "We are very pleased to be joining a company that also has a long and successful history in commercial roofing and which can help us grow into other product lines, including the future selling of residential roofing products. North Coast was presented with many strategic opportunities, but we chose to align with Beacon not only because of its size and reputation in the industry but because it shares North Coast's belief that success comes from hard work and a commitment to your employees and customers. We are confident that Beacon will provide the resources and know-how needed to assist with our growth plans. This is a very exciting time for all associates of North Coast." Robert Buck, Chairman, President & CEO of Beacon, emphasized the strategic fit of the North Coast acquisition and the compatibility of the two companies and stated, "North Coast has a track record of strong performance and provides us with an excellent opportunity to enhance our current presence in the Midwest, especially with commercial contractors, as well as to expand into the large New York market. Equally important is that North Coast shares Beacon's core values of integrity, loyalty and a commitment to its employees and customers. North Coast is a terrific fit for our company." About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products, operating 158 branches in 31 states and in Eastern Canada. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under 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: Statements in this press release regarding Beacon Roofing Supply Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the most recently ended fiscal year. |
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