Matthews International Corporation Announces Acquisition of United Memorial Products, Inc.
December 21 2009 - 8:35AM
PR Newswire (US)
PITTSBURGH, Dec. 21 /PRNewswire-FirstCall/ -- Matthews
International Corporation (NASDAQ:MATW) today announced the
acquisition of United Memorial Products, Inc., a leading supplier
of granite memorial products, burial vaults and caskets in the
western United States. United Memorial Products, which is
headquartered in Los Angeles, CA, reported sales of approximately
$11 million in calendar 2008. Joseph C. Bartolacci, President and
Chief Executive Officer of Matthews, stated, "The acquisition of
United Memorial Products adds first-rate granite offerings to the
memorial expertise of Matthews, allowing us to increase our
presence as a full-service memorial products supplier. United's
reputation for superior customer service and high-quality products
makes them an ideal partner as we expand the breadth of our
memorial product offerings." James P. Doyle, President of Matthews
Memorialization Group, said, "Matthews already is a leading
supplier of bronze memorials. This acquisition is designed to
strengthen our presence in the broad granite segment and enable us
to be an even more valuable resource to our customers." Terms of
the acquisition were not immediately disclosed. Matthews
International Corporation, headquartered in Pittsburgh,
Pennsylvania, is a designer, manufacturer and marketer principally
of memorialization products and brand solutions. Memorialization
products consist primarily of bronze memorials and other
memorialization products, caskets and cremation equipment for the
cemetery and funeral home industries. Brand solutions include
graphics imaging products and services, marking products, and
merchandising solutions. The Company's products and services
include cast bronze memorials and other memorialization products;
caskets; cast and etched architectural products; cremation
equipment and cremation-related products; mausoleums; brand
management; printing plates and cylinders, pre-press services and
imaging services for the primary packaging and corrugated
industries; marking and coding equipment and consumables, and
industrial automation products for identifying, tracking and
conveying various consumer and industrial products, components and
packaging containers; and merchandising display systems and
marketing and design services. Any forward-looking statements
contained in this release are included pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown
risks and uncertainties that may cause the Company's actual results
in future periods to be materially different from management's
expectations. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove correct.
Factors that could cause the Company's results to differ materially
from the results discussed in such forward-looking statements
principally include changes in economic conditions, competitive
environment, death rate, foreign currency exchange rates, and
technological factors beyond the Company's control. DATASOURCE:
Matthews International Corporation CONTACT: Steven F. Nicola, Chief
Financial Officer, Secretary & Treasurer of Matthews
International Corporation, +1-412-442-8262 Web Site:
http://www.matw.com/
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