SLJB - Acquires SAM Building Materials: $6M/Yr. Revenues From Regional Market Share Brought on Immediately
Tuesday October 10, 11:23 am ET
WINDSOR, ON--(MARKET WIRE)--Oct 10, 2006 -- Today the CEO of SLJB (Sulja Bros. Building Supplies, Ltd.) (Other OTC:SLJB.PK - News), Petar Vucicevich, announced the acquisition of SAM Building Materials Limited. The acquisition is of a regional "GSD" (Gypsum Supply Depot) situated in the Windsor/Ontario region with close proximity to markets in the US. The Company specializes in supplying Drywall and associated materials such as steel stud, wet board, acoustical ceilings, and associated finishing products in and around the Ontario/Michigan area. The company, at the time of acquisition, enjoyed a solid 10%+ of the Windsor area market share after only 6 years in business.
"We fully intend to advance the development of SAM beyond their already successful entry into a tough regional market," said SLJB CEO Petar Vucicevich. "SAM is a respected outfit here in the Windsor area, and as they adopt the SLJB moniker and available resources, we will serve to broaden their presence, along with all of SLJB and its affiliates."
An SLJB spokesperson concluded with a statement reiterating that the acquisition immediately places $6M in revenues to SLJB and that the ancillary benefits of increased purchasing volume and broader scope of expertise will only serve to enhance the bottom line of the value to SLJB shareholders. This acquisition was finalized on October 2, 2006.
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Source: Sulja Bros. Building Supplies, Ltd.
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