ACR Group, Inc. to Open Branches in Arizona; Two Branches Planned for Phoenix Area; Also Looking at Tucson
April 18 2006 - 5:14PM
PR Newswire (US)
HOUSTON, April 18 /PRNewswire-FirstCall/ -- ACR Group, Inc.
(AMEX:BRR) today announced that it has signed leases for two new
branch operations in the Phoenix area. These will be the Company's
first operations located in Arizona, which is among the top five
states in demand for air conditioning. One of the new branches,
located in north Phoenix, is expected to open in late May. The
other branch, located in Mesa, a suburb of Phoenix, is in an
industrial park that is under construction. The opening date for
the Mesa branch in projected for August. The Company is also
evaluating potential sites in the Tucson, AZ area for a branch
operation, although no lease is yet signed. The Arizona branches
will operate under the name ACH Supply, the Company's business unit
based in southern California. The branches will distribute the
Tempstar brand of HVAC equipment, as do the branches of ACH Supply
that are located in California. International Comfort Products, LLC
("ICP"), the manufacturer of Tempstar brand products and a
subsidiary of Carrier Corporation, has granted ACH Supply the
distribution rights for Tempstar equipment for the entire state of
Arizona. All of the Company's business units are distributors of
Tempstar or a companion brand of HVAC equipment manufactured by
ICP. Commenting on the Company's expansion into Arizona, Alex
Trevino, Jr., President and Chief Executive Officer of ACR Group,
Inc., stated, "We have looked for opportunities to enter the
Arizona market for several years. As we have planned our growth
across the Sunbelt, Arizona was an obvious missing piece. The
Phoenix area is annually among the fastest-growing metropolitan
areas in the country, and the climate is certainly conducive to air
conditioning. Obtaining the Tempstar distribution rights for the
state provided the incentive to commit our resources to begin
opening branches. While we will have two or three branches opened
this year, there is a clear opportunity to expand our presence in
Arizona in the future. This initiative is likely to be a
significant growth driver for the Company over the next few years
and is consistent with our track record of successful organic
expansion." About ACR Group, Inc. ACR Group, Inc. is a leading
wholesale distributor of air-conditioning, heating, and
refrigeration ("HVACR") equipment and supplies. The Company's 51
branches are located in nine states and are organized into five
business units. Statements in this news release that relate to
management's expectations or beliefs concerning future plans,
expectations, events, and performance are "forward-looking" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Actual results or events could differ materially from
those anticipated in the forward-looking statements due to a
variety of factors, including, without limitation, weather
conditions, the effects of competitive pricing, general economic
conditions, and availability of capital. DATASOURCE: ACR Group,
Inc. CONTACT: Alex Trevino, Jr., President and CEO, , or Tony
Maresca, Sr. Vice President & CFO, , both of ACR Group, Inc.,
+1-713-780-8532
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