Earle M. Jorgensen Company Completes Previously Announced Expansion of its Toronto, Ontario Facility; Larger Operation Will Supp
September 07 2005 - 8:00AM
Business Wire
Earle M. Jorgensen Company (NYSE: JOR) announced today that it has
completed the expansion of its Toronto, Ontario facility. The
Company's existing five year old facility was determined to be
ready to support increased operations. Accordingly the original
62,000 square feet of warehouse facilities has been expanded by
approximately 50%. The resulting 92,000 square foot operation will
include 87,000 square feet of warehouse space. "We are very pleased
with the way our business has been able to serve customers in the
Province of Ontario," said William Gertin, Director of Canadian
Operations for Earle M. Jorgensen Company. "Ontario is the center
for half of all manufacturing activity in Canada and we are adding
more than just extra space to serve that diversified customer base.
We are installing processing equipment and 60% more racking at a
cost of C$1.5 million, and as a result, our customers will see a
wider range of product, more metals processing options and
increased efficiency levels." The expanded facility and the new
equipment have already commenced operations and will be fully
operational by September 15th. This expansion further progresses
the Earle M. Jorgensen Company's strategy of continually increasing
service and delivery levels to its client base by developing
added-value capabilities close to its customers. Toronto is the
third new facility opening or expansion announced in recent weeks
following those in or near Spokane, WA, Houston, TX and Hartford,
CT. About Earle M. Jorgensen Company Earle M. Jorgensen Company is
one of the largest distributors of metal products in North America
with 37 service and processing centers. The Company inventories
more than 25,000 different bar, tubing, plate, and various other
metal products, specializing in cold finished carbon and alloy
bars, mechanical tubing, stainless bars and shapes, aluminum bars,
shapes and tubes, and hot-rolled carbon and alloy bars.
Forward-Looking Statements Any forward-looking statements, as
defined by the Private Securities Litigation Reform Act of 1995,
contained in this press release are subject to risks, uncertainties
and other factors, such as the cyclicality of the metals industry
and the industries that purchase our products, fluctuations in
metals prices, risks associated with the implementation of new
technology, general economic conditions, competition in the metals
service center industry and our ability to satisfy our "on-time or
free" delivery guarantee. Actual events or results may differ
materially from expectations due to these risks, uncertainties and
other factors. These factors and additional information are
included in Earle M. Jorgensen Company's filings with the
Securities and Exchange Commission. In particular, we refer you to
Earle M. Jorgensen Company's Annual Report on Form 10-K for the
fiscal year ended March 31, 2005, filed with the Securities and
Exchange Commission on June 29, 2005. You should be aware that we
do not plan to update these forward-looking statements, whether as
a result of new information, future events, or otherwise unless
required by law. JORG
Earle M Jorgensen (NYSE:JOR)
Historical Stock Chart
From Apr 2024 to May 2024
Earle M Jorgensen (NYSE:JOR)
Historical Stock Chart
From May 2023 to May 2024