BlueLinx Acquires California-Based Lane Stanton Vance; Purchase Enhances Offerings for Industrial Customers and Adds to BlueLinx' West Coast Presence.ATLANTA -- BlueLinx Holdings BlueLinx Holdings NYSE: BXC is a Fortune 1000 company based in Atlanta, Georgia. It is the largest building products wholesaler in the country. External links
See: New York Stock Exchange : BXC BXC Band Cross-Connect ), a leading distributor of building products in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , operating through its wholly-owned subsidiary BlueLinx Corporation, has completed the acquisition of California-based hardwood lumber company Lane Stanton Vance (LSV LSV Laser Surface Velocimeter LSV Low-Speed Vehicle LSV Linear Sweep Voltammetry LSV Logistics Support Vessel LSV Large-Scale Vehicle (US Navy) LSV Light Strike Vehicle LSV Landing Ship, Vehicle (WW II) ), formerly a unit of privately-held Hampton Distribution Companies. For the 12 months ended January 31, 2005, LSV had revenue of approximately $62 million. The acquisition enhances the company's offerings for its industrial/manufactured housing customer base as well as BlueLinx' presence in the Western region. Financial terms of the transaction were not disclosed. Operating for more than 100 years in the lumber industry, Lane Stanton Vance sells domestic and imported hardwoods, panel products, flooring and moulding, in addition to providing some custom milling services. With the addition of LSV, BlueLinx will operate 11 facilities in northern and southern California, including six LSV locations. "Acquiring LSV illustrates our strategy to enhance market share growth by adding local distribution businesses in market segments that represent high-return growth opportunities. In completing this transaction, we held to our policy of pursuing selective acquisitions of small and medium sized distributors at appropriate pricing," said Chuck McElrea, chief executive officer of BlueLinx. LSV's reputation as a distributor of high-value hardwood lumber products complements BlueLinx' position as the industry leader of quality products, with a nationwide footprint and centralized infrastructure. "As America's largest building products distributor, we offer Lane Stanton Vance the opportunity to access our resources, systems and industry contacts to grow their business," said George Judd, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "In turn, we will benefit from their high-quality specialty product offerings and expertise. We look forward to joining forces in our shared mission to increase value for customers and vendors along the supply chain." "This acquisition represents an exciting time for our Lane Stanton Vance customers, vendors and employees," said LSV General Manager Cameron Caudill. "Like us, BlueLinx is focused on customer service and we are pleased to join a company with its reputation and growth strategy." About Lane Stanton Vance Lane Stanton Vance, a division of BlueLinx Corporation, is a hardwood lumber company offering an extensive stock of domestic and imported hardwood lumber. Lane Stanton Vance provides the highest quality NHLA NHLA National Hardwood Lumber Association NHLA New Hampshire Liberty Alliance (Manchester, NH) NHLA National Hispanic Leadership Agenda NHLA New Hampshire Legal Assistance NHLA New Hampshire Library Association certified lumber, custom moulding and millwork through its Custom Mills, Inc. division, as well as services such as glue lamination lamination a laminar structure or arrangement. and high-quality finishing. Additional information about Lane Stanton Vance can be found online at www.lsvlumber.com. About BlueLinx Holdings Inc. Headquartered in Atlanta, Georgia, BlueLinx Holdings Inc., operating through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. BlueLinx Corporation, is a leading distributor of building products in North America. Employing more than 3,300 people in North America, BlueLinx offers 10,000 products from over 750 suppliers to service more than 11,700 customers nationwide, including dealers, industrial manufacturers, manufactured housing producers and home improvement retailers. The Company operates its distribution business from sales centers in Atlanta and Denver, and its network of more than 60 warehouses. Additional information about BlueLinx can be found on its Web site at www.BlueLinxCo.com. Forward-looking Statements This press release includes "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. All of these forward-looking statements are based on estimates and assumptions made by our management that, although believed by BlueLinx to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of its control, that may cause its business, strategy or actual results to differ materially from the forward-looking statements. These risks and uncertainties may include, among other things: changes in the supply and/or demand for products which we distribute; the activities of competitors; changes in significant operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. ; changes in the availability of capital; the ability to identify acquisition opportunities and effectively and cost-efficiently integrate acquisitions; general economic and business conditions in the United States; acts of war Tom Clancy's Op-Center: Acts of War is a technothriller by Jeff Rovin Plot introduction The mobile Regional Operations Center (ROC) in Turkey investigates a dam blown up by Kurdish terrorists. or terrorist activities; variations in the performance of the financial markets; and other factors described in the "Risk Factors" section in the Company's Annual Report on 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 year ended January 1, 2005, and in its periodic reports filed with the Securities and Exchange Commission from time to time. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. BlueLinx undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law. |
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