BMHC Completes Acquisition of Davis Brothers Framing, Inc.
02 8월 2006 - 6:10AM
PR Newswire (US)
Expands SelectBuild Capabilities in California SAN FRANCISCO, Aug.
1 /PRNewswire-FirstCall/ -- Building Materials Holding Corporation
(NASDAQ:BMHC) today announced that its wholly owned subsidiary,
SelectBuild Construction, Inc., has completed its acquisition of
the assets and operations of Davis Brothers Framing, Inc. With
sales of more than $110 million in 2005, Davis Brothers provides
turnkey framing services to high-volume production homebuilders in
Southern California's Inland Empire region. In addition to
single-family home construction, a significant portion of Davis
Brothers' revenue is derived from high-density residential
projects. Robert E. Mellor, BMHC's Chairman, President and Chief
Executive Officer, stated, "We are pleased that Davis Brothers has
become a part of the BMHC organization. Davis Brothers is a strong
addition to SelectBuild and, being a highly-regarded framing
company in the Inland Empire area, will further enhance our
existing construction operations in Southern California. Our
business strategy is focused on expanding both our range of
construction services and our geographic reach through acquisitions
and organic growth. Transactions like this serve to strengthen BMHC
by increasing our market penetration, adding specialized
construction capabilities and bringing management talent to our
Company. Our growing geographic diversity and breadth of services
place us in an advantageous competitive position in today's
changing homebuilding environment." About BMHC BMHC, a Fortune 1000
company, is one of the largest providers of residential
construction services and building materials in the United States.
We serve the homebuilding industry through two subsidiaries:
SelectBuild provides construction services to high-volume
production homebuilders in key growth markets across the country;
BMC West distributes building materials and manufactures building
components for professional builders and contractors in the western
and southern states. BMHC was recently named to the Forbes Platinum
400, also known as America's Best Big Companies, and was selected
Pro Dealer of the Year by Home Channel News. To learn more about
BMHC, visit our website at http://www.bmhc.com/. BUSINESS RISKS AND
FORWARD-LOOKING STATEMENTS There are a number of business risks and
uncertainties that affect our operations and therefore could cause
future results to differ from past performance or expected results.
Additional information regarding business risks and uncertainties
is contained in Item 1A of our most recent Form 10-K. These risks
and uncertainties may include, but are not limited to: -- demand
for single-family homes which is influenced by changes in the
overall condition of the U.S. economy, including interest rates,
job formation, consumer confidence and other important factors; --
our business model; -- integration of acquired businesses may not
result in anticipated cost savings and revenue synergies being
fully realized or may take longer to realize than expected; -- our
ability to identify and acquire suitable acquisition candidates;
availability of and our ability to attract, train and retain
qualified individuals; -- implementation of cost structures that
align with revenue growth; changes in the business models of our
customers; -- fluctuations in our costs and availability of
sourcing channels for commodity wood products, concrete, steel and
other building materials; intense competition; -- weather
conditions, including natural catastrophic events; -- construction
defect and product liability claims as well as other legal
proceedings; -- disruptions in our information systems; -- actual
and perceived vulnerabilities as a result of terrorist activities
and armed conflict; -- changes to various federal, state and other
regulations; and -- numerous other matters of a local and regional
scale, including those of a political, economic, business,
competitive or regulatory nature. Risks related to our shares
include, but are not limited to: -- share price fluctuations and --
potential share price limitations due to anti-takeover defenses in
our governing documents and certain provisions under Delaware law.
Certain statements made in this news release constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements that are not
historical or current facts, including statements about our
expectations, anticipated financial results and future business
prospects are forward-looking statements. While these statements
represent our current judgment on what the future may hold and we
believe these judgments are reasonable, these statements involve
risks and uncertainties that could cause our actual results to
differ materially from those in forward-looking statements. These
factors include, but are not limited to the risks and uncertainties
cited in the above paragraph. Undue reliance should not be placed
on such forward-looking statements, as such statements speak only
as of the date of this news release. We undertake no obligation to
update forward-looking statements. DATASOURCE: Building Materials
Holding Corporation CONTACT: Bill Smartt, Senior Vice President and
Chief Financial Officer, +1-415-627-9100, or Mark Kailer, Vice
President, Treasurer and Investor Relations Officer,
+1-415-627-9100, both of Building Materials Holding Corporation Web
site: http://www.bmhc.com/
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