The Keller Manufacturing Company, Inc.'s Subsidiary, Paragon Door Designs, Inc. Acquires Storm Door Manufacturing Assets
06 March 2008 - 8:01AM
Business Wire
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 .
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