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NSMG National Storm Management Inc (CE)

0.000001
0.00 (0.00%)
26 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
National Storm Management Inc (CE) USOTC:NSMG OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.000001 0.00 00:00:00

National Storm Management Opens New Branch Office to Respond to Atlanta Tornado and Hail Activity

01/04/2008 3:17pm

Business Wire


National Storm Management (CE) (USOTC:NSMG)
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National Storm Management, Inc. (Other OTC:NSMG) announced today that it has opened a new office in Alpharetta, Georgia, a suburb of Atlanta, to capitalize on recent storm activity in the area. As a result of recent tornadoes and hail damage, metropolitan Atlanta sustained approximately $250 million in damage. To support the cleanup effort, the Company plans to mobilize operations through this new office, as part of its national expansion strategy. National Storm expects to open two new branch offices annually to capitalize on opportunities created by storm activity. The Company currently has offices, through its affiliates, in Illinois, Indiana, Kentucky, Florida and Ohio. “We have spent the past two years stabilizing the business and restructuring operations, which should lead to improving our financial condition,” said Terry Kiefer, president and CEO of National Storm Management. “We now believe we are well positioned for growth. Already, we have seen significant interest in our first-responder services in the Atlanta area, which is why we felt it appropriate to open an office in the area. We believe the opportunity is quite significant in the area. Two years ago, there was a hail storm in Indianapolis. It was estimated that the damage was approximately half of the level of the Atlanta storm. The Company generated in excess of $4 million in revenue from the event. Through the opening of this new office, we believe National Storm is well positioned for similar success. We expect to open an additional office this year to respond to future storm activity. While the last two years have seen few major storms, we have prepared the Company to respond quickly to events and to eventually diversify our operations so we are not completely dependent on storm activity to support growth.” About National Storm Management, Inc. National Storm Management is a national construction company headquartered in Glen Ellyn, Illinois providing storm restoration services in seven states. Its operating affiliates include: ABC Exteriors (Illinois, Indiana and Kentucky); Pinnacle Roofing (Florida and Louisiana); WRS, Inc. (Minnesota); and First Class Roofing and Siding (Ohio). The company and its affiliates are recognized by all major insurance companies such as State Farm, Allstate, Farmers and others for storm related claims. The company is a member of the National Roofing Contractors Association (NRCA) and the Better Business Bureau. More information is available at www.nationalstorm.com. Forward-Looking Statements Certain statements included in this press release may constitute forward-looking statements. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, financial performance, plans to update a registration statement with the SEC, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations, but actual results could differ materially as a result of many factors, including, but not limited to, severe weather conditions and the physical damage caused by hail storms and hurricanes, fluctuations in interest rates and the resulting impact on financing costs, general economic developments in the states where we do business, availability of labor, materials and supplies, our ability to execute our future growth plans and our ability to timely and accurately prepare quarterly and annual financial statements. Forward-looking statements are made as of this press release and we do not undertake any obligation to provide updates to such statements except where required to so by law.

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