Sulja Bros. Confirm Acquisition of Sam Building Materials as Previously Stated
Sulja Bros. Building Supplies Limited (PINKSHEETS: SLJB), today dismisses reports published in the Windsor Star that claim that the acquisition of Sam Building Material has not been closed. The deal has been completed and all assets and employees have been rolled into the Sulja family. No one was laid off.
A spokesperson stated, "Their entire inventory including trucks and other fixed assets have been acquired by Sulja's and we have been functioning as one for more than a month now. The property is a lease but everything else is solid assets. We want to dispel the reports that have been published in the Windsor Star; it seems as Gary Rennie, reporter from the Windsor Star has a personal vendetta against our company and its management."
Mario Moretto, President of Sam Building Materials, agreed with Sulja Bros. and stated, "Since October 2nd, we have been working under the Sulja banner. The purchase was completed and the documents are with our lawyers. I have spoken to no one from the Windsor Star, and I am uncertain to where they are getting their inaccurate information from. I want to state again that the deal has been finalized and everyone is very pleased with the result."
"The take over was seamless and everyone is happy with it. We have been conducting business normally and without hindrance since October. We plan on continuing as such and on expanding our business despite efforts of those outside our organization trying to derail our efforts for reasons unknown to us," the spokesperson said.
SLJB Acquires SAM Building Materials: $6M/Yr. Revenues From Regional Market Share Brought on Immediately
Today the CEO of SLJB (Sulja Bros. Building Supplies, Ltd.) (PINKSHEETS: SLJB), 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.
