BMHC Acquires Benedetti Construction Management, Inc. and MWB Building Contractors, Inc.
January 11 2006 - 6:30AM
PR Newswire (US)
SAN FRANCISCO, Jan. 11 /PRNewswire-FirstCall/ -- Building Materials
Holding Corporation (NASDAQ:BMHC) today confirmed that its wholly
owned subsidiary, BMC Construction, has completed acquisition of
the assets of Benedetti Construction Management, Inc. (d/b/a Tandem
West Group) and MWB Building Contractors, Inc. Benedetti
Construction Management provides framing services to high-volume
production homebuilders in the Palm Springs area and other Southern
California markets, and had sales of approximately $145 million for
the twelve months ended November 30, 2005. MWB Building Contractors
provides framing services to high-volume production homebuilders in
the Northern California and Reno, Nevada markets, and had sales of
approximately $80 million for the twelve months ended November 30,
2005. Robert E. Mellor, BMHC's Chairman, President and Chief
Executive Officer, stated, "We are pleased to have finalized the
acquisitions of Benedetti Construction Management and MWB Building
Contractors. Benedetti is the largest framing company in Palm
Springs and the low desert area of Southern California. MWB
strengthens our construction services operations in Northern
California and also allows us to provide these services in the Reno
market. Both companies are a perfect fit within our strategy of
expanding our construction services and managing multiple trades
for high-volume production homebuilders in key U.S. markets. We
look forward to working with the Benedetti and MWB management teams
and continuing to provide high quality services to our customers."
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: BMC West distributes building materials
and manufactures building components for professional builders and
contractors in the western and southern states; BMC Construction
provides construction services to high-volume production
homebuilders in key growth markets across the country. BMHC was
recently named to the Forbes Platinum 400, also known as America's
Best Big Companies. 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 1
of our 2004 Form 10-K. These risks and uncertainties may include,
but are not limited to: -- demand for homebuilding which is
influenced by changes in the overall condition of the U.S. economy,
including job formation, interest rates and consumer confidence, as
well as other important factors; -- fluctuations in our costs and
availability of sourcing channels for commodity wood products and
building materials; -- changes in the business models of our
customers; -- intense competition; -- integration of acquired
businesses may not result in anticipated cost savings and revenue
synergies being fully realized or it may take longer to realize
than expected; -- our ability to identify suitable acquisition
candidates; -- availability of and our ability to attract, train
and retain qualified individuals; -- unanticipated weather
conditions including natural catastrophic events such as
earthquakes, fire, flood, hurricanes, tornadoes, etc.; --
implementation of cost structures that align with revenue growth;
-- actual and perceived vulnerabilities as a result of terrorist
activities and armed conflict; and -- numerous other matters of a
local and regional scale, including those of a political, economic,
business, competitive or regulatory nature. 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, +1-415-627-9100, both of Building
Materials Holding Corporation Web site: http://www.bmhc.com/
Copyright
Building Materials (NASDAQ:BMHC)
Historical Stock Chart
From Oct 2024 to Oct 2024
Building Materials (NASDAQ:BMHC)
Historical Stock Chart
From Oct 2023 to Oct 2024
Real-Time news about Building Materials (NASDAQ): 0 recent articles
More Building Materials Holding (MM) News Articles