Premdor Completes Crosby Acquisition.TORONTO--(BUSINESS WIRE)--Aug. 22, 1996--PREMDOR INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. .(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME: PDI NYSE NYSE See: New York Stock Exchange : PI ) Premdor Inc. of Toronto stated today it has completed the transaction, that was previously announced, with The Spring Ram Corporation PLC of Bradford, England, to acquire the assets of Crosby Limited. The new entity, Premdor Crosby Limited, manufactures a broad range of interior and exterior doors, windows, and other products. Premdor Crosby, with annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. sales of approximately CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $125 million, is one of the leading millwork manufacturers in the United Kingdom. The business, which employs over 900 people in England, operates principally from four factories located at Barnsley, Stockton-on-Tees, Bridgewater, and Hedingham. Premdor Crosby manufactures and markets its products to retailers, builders, merchants and other distributors in the residential and commercial construction industry. Philip Orsino, President 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 Premdor, previously stated "this acquisition is a significant step in Premdor's continuing international growth strategy. The addition of the four Crosby plants to Premdor's five existing European plants should increase sales in Europe to over CDN $250 million, representing 25% of Premdor's total consolidated sales, and will allow Premdor Europe to have the critical mass required to further develop the infrastructure needed to achieve our European objectives." Premdor Inc. is among the largest manufacturers and merchandisers of doors in the world. Premdor operates over 40 manufacturing, sales and warehouse facilities and has 4,550 employees. The Premdor Group of Companies manufacture, merchandise and sell their products to large distributors, jobbers, home centre chains and wholesale and retail building supply dealers in Canada, the United States, Mexico, France, the United Kingdom and other countries in Europe and Asia. CONTACT: Premdor Inc. Mr. Larry Repar, 905/670-6500 |
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