BMHC Signs Letter of Intent to Acquire Willis Roof Consulting, Inc.
02 10월 2006 - 9:30PM
PR Newswire (US)
Expands SelectBuild Capabilities in Nevada SAN FRANCISCO, Oct. 2
/PRNewswire-FirstCall/ -- Building Materials Holding Corporation
(NASDAQ:BMHC), a leading provider of construction services and
building materials to professional residential builders and
contractors, today announced that its wholly owned subsidiary,
SelectBuild Construction, has signed a letter of intent to acquire
100% of the assets and operations of Willis Roof Consulting Inc.
Willis provides roofing services for high-volume production
homebuilders in the greater Las Vegas, Nevada market. For the
twelve months ended June 30, 2006, Willis generated revenue of
approximately $90 million. Willis will be folded into SelectBuild's
Las Vegas Division and will do business as SelectBuild. The
transaction is expected to close in the fourth quarter of 2006,
pending completion of due diligence activities. Robert E. Mellor,
BMHC's Chairman, President and Chief Executive Officer, stated, "We
are pleased to continue expanding SelectBuild's construction
services business with the addition of our first roofing operations
through the planned acquisition of Willis Roof. Once completed,
this transaction will be another step toward our goal of being able
to build the entire structural shell of the home. We continue to
believe that our strategy of acquiring and integrating businesses
such as Willis, which extend the types of construction trades we
can provide, continues to improve SelectBuild's advantageous
competitive position. We look forward to welcoming Joe Willis and
his team as a new and important part of SelectBuild's Las Vegas
operations." 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 is listed as
one of Fortune Magazine's "100 Fastest Growing Companies" in 2006,
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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