CAMERON ASHLEY BUILDING PRODUCTS, INC. SIGNS LETTER OF INTENT TO ACQUIRE BRANCHES IN COLORADO.DALLAS--(BUSINESS WIRE)--April 26, 1996--Cameron Ashley Building Products, Inc. (Nasdaq:CABP CaBP Calcium Binding Protein CABP Coalition Air Battle Planning CABP Certificate of the Arab Board of Pediatrics ) announced today that it has signed a letter of intent to acquire the Colorado businesses of Mile High Roofing & Exterior Supply, Inc., a building products distributor headquartered in Denver, Colorado. The locations to be acquired are branches in Colorado Springs Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. , Denver and Loveland. Mile High's principal business is the distribution of roofing, vinyl siding Wikipedia is not the place for advertisement or self-advertising. Vinyl siding, first introduced to the exterior cladding market in the late 1950s, is an alternative to aluminum siding, fiber cement siding, and timber siding. and window products. The 1995 sales for these locations were approximately $19 million. Terms of the transaction were not disclosed. Ronald R. Ross, Chairman of Cameron Ashley Building Products, Inc. commented, "These acquisitions represent several unique opportunities for Cameron Ashley. They will add branch locations in dynamic markets in Colorado which are currently benefitting from strong economic conditions and solid building and remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling activity. Mile High's branches are complementary to our recent initiative to acquire Jett Supply in terms of broadened product lines as well as marketing and distribution capabilities." Jett Supply is a distributor of steel building products headquartered in Pueblo, Colorado The City of Pueblo (IPA: /'sɪti əv 'pwɛbloʊ/) is a Home Rule Municipality that is the county seat of Pueblo County, Colorado, USA. . Mr. Ross continued: "Over the past quarter we have made progress in improving operating results and strengthening our management team in the Northeast and Northwest. With this pending acquisition and that of Jett Supply, we have fully resumed our acquisition strategy while we build the most comprehensive nation-wide distribution network. Having recently completed our $125 million debt refinancing, we have strengthened our balance sheet to support our commitment to continuing our growth strategy." Cameron Ashley Building Products, Inc. is a distributor of a broad line of building products that are used principally in home improvement, remodeling and repair work and in new residential construction. The Company distributes its products to independent building material dealers, professional builders Professional Builder (ISSN-1072-0561) is a trade publication and web site owned by Reed Business Information serving the information needs of the housing and light construction marketplace. , large contractors and mass merchandisers through a network of 94 branches located throughout 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. . Product lines include roofing, millwork, pool and patio enclosure materials, insulation, siding, steel products, industrial metals and a variety of other 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 . . CONTACT: CAMERON ASHLEY BUILDING PRODUCTS, INC. F. Dixon McElwee, 214/860-5100 or Morgen-Walke Associates June Filingeri/Robert Weiner Media contact: Stan Froelich, 212/850-5600 Ken Pieper, 214/663-9390 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion