Beacon Roofing Supply Announces Acquisition of Oklahoma-based RSM Supply.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 the acquisition of Roofing & Sheet Metal Supply, Inc. ("RSM RSM (in Britain) regimental sergeant major Supply"), a Tulsa, Oklahoma-based distributor of residential and commercial roofing products with locations in Tulsa, Oklahoma, Joplin, Missouri and in Springdale and Fort Smith, Arkansas Fort Smith is a city that lies on the Arkansas-Oklahoma state border, situated at the junction of the Arkansas and Poteau Rivers, also known as Belle Point. The city began as a western frontier military post in 1817 and would later become well-known for its role in the settling of . RSM Supply is a successful and well-established distributor of roofing products and presents Beacon with the opportunity to enter the growing Northwest Arkansas market and add to its existing locations in Oklahoma, Missouri, and Arkansas. Founded in 1958, RSM Supply employs 70 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 $33 million for its fiscal year ended November 30, 2005. It will continue to operate under the RSM Supply name within Beacon's Southwest region, operated by Shelter Distribution , which will further leverage the operating efficiencies of Beacon's locations in the Southwestern United States. Jim Turner, owner of RSM Supply, stated, "Our company has a rich heritage and we are proud to be joining a company with a culture, principles and values similar to ours. We believe that joining Beacon will provide the resources and economies of scale needed to accelerate our growth. The management team and all of our associates are excited about becoming part of such a dynamic and first-class organization." Robert Buck, 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 Beacon, emphasized the strategic fit of the RSM Supply acquisition and stated, "RSM Supply provides Beacon with an excellent opportunity to enhance our geographic presence in the Southwest as well as to expand into the high-growth Northwest, Arkansas market. RSM Supply has a proven track record of consistent growth and profitability, with talented employees that have a commitment to customer satisfaction consistent with Beacon's philosophy. They are a welcome addition to our company." About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products operating 155 branches in 31 states in the Northeast, Mid-Atlantic, Midwest, Central Plains, Southeast, Southwest and Western regions of the United 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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