Keller President and Chief Executive Officer David T. Richardson Leaves Company to Pursue Other Opportunities
27 January 2006 - 10:00PM
Business Wire
The Keller Manufacturing Company, Inc. ("Keller" or "KMFI.PK")
(Pink Sheets:KMFI) announced today that David T. Richardson, its
President and Chief Executive Officer and sole remaining employee,
will leave the Company effective January 29, 2006 to pursue other
opportunities. Keller will continue to be managed by its board of
directors. Keller has no plans at this time to operate a business
separate from its recently acquired 85% ownership interest in
Paragon Door Designs, Inc. ("Paragon"). David N. Burks is the
President and CEO of Paragon reporting to the Keller board of
directors. In January of 2006 Keller announced the acquisition of
approximately 85% of the stock of Paragon. Founded in 1993, Paragon
offers custom steel and fiberglass residential entry doors and
storm doors with a variety of glass styles and finishes. Paragon
sells through a network of window and door dealers, remodelers, and
home improvement companies in 20 states. Paragon has 27 employees
and has been profitable for many years with $3.9 million of sales
in 2005. Paragon Founder, President, and Chief Executive Officer
David N. Burks, an industry veteran with over 25 years of
experience owns the balance of the equity not acquired by Keller.
For more information about Paragon please visit
www.paragondoor.com. For more information about Keller please visit
www.kellerfurniture.com. 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.
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