Berger Holdings, Ltd. Completes Fourth Acquisition in the Last Thirty-Four Months.Business Editors PHILADELPHIA--(BUSINESS WIRE)--Nov. 1, 2000 Berger Holdings, Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BGRH) announced it has completed the acquisition of Walker Metal Products in Atlanta, GA for a combination of cash and notes. No new equity was issued for this acquisition. The two principals of Walker Metal have been in the roof drainage business for over forty years in the Atlanta area. Walker will continue doing business at its current location. Mr. Theodore A. Schwartz, Chairman and 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 the Company, stated, "We believe that this acquisition is both strategic and accretive. It will give us a stronger presence in the Southeastern U.S. market, just as our recent acquisition of Copper Craft of Dallas, TX allowed us to penetrate the Southwest. These two acquisitions will help us offset our relatively slow winter months in the Northeast." He further stated, "This action represents a continuation of our previously stated goal of growing our revenue, cash flow and net income while we reduce our outstanding shares through our stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program. This should result in increasing the intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. of our Company to the ultimate long-term benefit of our loyal shareholders." Berger Holdings, Ltd. is the parent company of Berger Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) Co., which was founded in 1874, and is a manufacturer of the most complete line of roof drainage products specializing in copper as well as residential and commercial snow guards. All of the Company's products are used in new construction, remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling , and renovation markets. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions 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. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risk and uncertainties including but not limited to, continued acceptance of the company's products in the marketplace, competitive factors, new products and technological changes, the Company's dependence upon third-party suppliers and other risks detailed in the company's periodic reports filing with the Securities and Exchange Commission. |
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