Keller Manufacturing (PK) (USOTC:KMFI)
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From Dec 2019 to Dec 2024
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
.