2003 News Release - NCI Building Systems
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NCI BUILDING SYSTEMS INCREASES ITS POSITION IN RETAIL FACTORY DIRECT STORES THROUGH AN ACQUISITION AND A GREENFIELD SITE
HOUSTON (July 2, 2003) – NCI Building Systems, Inc. (NYSE: NCS), today announced the acquisition of a retail store location in Baytown, Texas, which becomes its fifth NCI Metal Depot. This new location represents a further expansion of NCI’s retail factory direct concept, which sells a wide range of commercial and residential metal components and accessories, as well as a variety of small metal building packages, directly to the public. The purchase price for the assets of the Baytown location was approximately $1.0 million, and the Company expects to have first-year revenues of approximately $2 million. NCI expects to open its sixth NCI Metal Depot in August in far northwest Houston, Texas, on a greenfield site, which will be the NCI Metal Depots flagship store.
Commenting on the announcement, A.R. Ginn, Chairman of NCI, said, “As the country’s largest manufacturer and distributor of metal products for the construction industry, we believe there is a significant retail growth opportunity that our NCI Metal Depot stores are designed to capture. As exemplified by our new flagship store to be opened in Houston in August, our retail stores typically have ample retail and warehouse space capable of stocking a broad array of metal products and accessories. These products are marketed primarily to do-it-yourselfers, farmers, and small contractors. Our line of metal components includes items such as metal roof and wall panels, light structural and tubing shapes, and accessories for commercial and residential applications. We will also offer a variety of small metal building packages for the NCI Metal Depot stores, including carports, storage sheds, and other types of complete metal buildings. “NCI Metal Depot Stores are a logical extension of our leadership position in the metal construction industry. Leveraging our design expertise, product innovation and nationwide manufacturing and distribution network will enable us to provide retail customers a unique level of high quality, low-cost metal products and services.”
NCI Building Systems, Inc. is one of North America's largest integrated manufacturers of metal products for the nonresidential building industry. The Company operates manufacturing and distribution facilities located in 16 states and Mexico.
Some statements contained in this release are “forward-looking” statements, as defined in the Private Securities Litigation Reform Act of 1995. Actual performance of the Company may differ from that projected in such statements as a result of factors such as industry cyclicality and seasonality, adverse weather conditions, fluctuations in customer demand and order patterns, raw material pricing, competitive activity and pricing pressure and general economic conditions affecting the construction industry. Investors should refer to statements regularly filed by the Company in its annual report to the Securities and Exchange Commission on Form 10-K, its quarterly reports to the SEC on Form 10-Q and its current reports to the SEC on Form 8-K and other filings with the SEC for a discussion of factors which could affect the Company’s operations and forward-looking statements made in this communication. The Company expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any changes in expectations.