BMHC Reaches Agreement to Acquire Campbell Companies
August 04 2005 - 8:30AM
PR Newswire (US)
SAN FRANCISCO, Aug. 4 /PRNewswire-FirstCall/ -- Building Materials
Holding Corporation (NASDAQ:BMHC) today announced that its wholly
owned subsidiary, BMC Construction, has entered into a definitive
agreement to acquire The Campbell Companies which had sales of
approximately $200 million in the twelve months ended March 31,
2005. Campbell provides concrete and plumbing services to
high-volume production homebuilders in the Las Vegas and Southern
California markets. The transaction is expected to close in the
third quarter and is subject to customary closing conditions and
approvals. Robert E. Mellor, BMHC's Chairman, President and Chief
Executive Officer, stated, "This transaction is another positive
step that supports our strategy of expanding our construction
services in key homebuilding markets and will complement the
acquisitions we completed earlier this year. Additionally, Campbell
shares a corporate culture similar to ours and its management team
believes strongly in the importance of providing consistent quality
service to its customers. We believe Campbell will be an asset to
BMC Construction's operations in Las Vegas and Southern
California." 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. 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 Ellis Goebel, Senior Vice President, Business
Development and Investor Relations, +1-415-627-9100, or Mark
Kailer, Vice President, Treasurer and Investor Relations,
+1-415-627-9100, all of BMHC Web site: http://www.bmhc.com/
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