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NCI Building Systems Completes Purchases Of Heritage Building Systems And Steelbuilding.Com Houston

 

(Dec. 8, 2004) – NCI Building Systems, Inc. (NYSE: NCS) today announced the completion of the previously announced purchases of substantially all the operating assets of Heritage Building Systems and Steelbuilding.com, affiliated companies headquartered in North Little Rock, AR. Heritage primarily markets general purpose, engineered steel buildings, including for the fast-growing agricultural market segment, through one of the industry’s strongest marketing operations. Steelbuilding.com, founded in 2000, is the largest marketer of engineered steel buildings via the Internet. The purchase price for the two companies totaled approximately $30 million, including approximately 200,000 shares of NCI common stock.

A.R. Ginn, Chairman and Chief Executive Officer of NCI, commented, “We are pleased to have completed these purchases because of the growth potential of both these companies. We are confident that, as part of one of the country’s largest integrated manufacturers of metal building products, Heritage and Steelbuilding.com will be better positioned to leverage their successful inbound telephone sales and Internet marketing and distribution channels to drive additional sales growth. By further building these channels in combination with our existing retail and builder distribution channels, we intend to expand demand for our small engineered buildings. In achieving this goal, we expect to produce profitable growth in a business that is highly complementary to our traditional engineered building systems focus on larger commercial and industrial projects.” This release contains forward-looking statements concerning our business and operations. Forward-looking statements involve a number of risks and uncertainties, and our actual performance may differ materially from that projected in such statements. Among the factors that could cause actual results to differ materially are industry cyclicality and seasonality, fluctuations in demand and prices for steel, the financial condition of our raw material suppliers, competitive activity and pricing pressure, ability to execute our acquisition strategy and general economic conditions affecting the construction industry. These and other factors that could affect our financial position and results of operations are described in further detail in our filings with the Securities and Exchange Commission. We expressly disclaim any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any changes in our expectations. 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.

 

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