The Keller Manufacturing Company, Inc. ("Keller") (Pink Sheets:KMFI) announced today that its subsidiary, Paragon Door Designs, Inc., (�Paragon�) had acquired the storm door manufacturing assets of Medlin Custom Woodworking, Inc. This acquisition will add storm door manufacturing to Paragon�s other manufacturing operations in Louisville, Kentucky. The total purchase price of the storm door manufacturing assets was just less than $100,000. Currently, Paragon markets and distributes storm doors under its brand name through agreements with various manufacturers. With this acquisition, Paragon will be able to control manufacturing processes and costs associated with the storm door product. Paragon�s product offerings consist of custom steel and fiberglass residential entry doors and storm doors marketed as coordinated entryway systems. David N. Burks, the President and CEO of Paragon stated, �Paragon continues to execute its strategic plan for growth of market share and product offerings. Therefore, I am pleased with this timely and planned acquisition. This acquisition will allow Paragon to better control the product design and manufacturing processes of a significant component of Paragon�s coordinated entryway systems.� For more information about Paragon please visit www.paragondoor.com. Keller acquired a majority interest in Paragon in January of 2006. Based on the effects of the termination of The Keller Manufacturing Company, Inc. Employees� Pension Plan as well as the operating income of Paragon, Keller returned to operational profitability in 2007 for the first time since 2000. The news release contains certain statements that are �forward-looking statements� within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements may include statements regarding the intent, belief or current expectations of the Company or its officers with respect to (i) the Company�s strategic plans, (ii) the policies of the Company regarding capital expenditures, dividends, financing and other matters, and (iii) industry trends affecting the Company�s financial condition or results of operations. Readers of this news release are cautioned that reliance on any forward-looking statement involves risks and uncertainties. Although the Company believes that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or nonoccurrence of future events. There can be no assurance that the forward-looking statements contained in this news release will prove to be accurate. The inclusion of a forward-looking statement herein should not be regarded as a representation by the Company that the Company�s objectives will be achieved. For more information about Keller, please visit www.kellermanufacturing.com. For more information about Keller�s subsidiary, Paragon, please visit www.paragondoor.com .
Keller Manufacturing (PK) (USOTC:KMFI)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Keller Manufacturing (PK) Charts.
Keller Manufacturing (PK) (USOTC:KMFI)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Keller Manufacturing (PK) Charts.