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Microcap & Penny Stocks : Berger Holdings BGRH
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To: Ed Ryder who started this subject11/1/2000 8:42:25 AM
From: leigh aulper   of 83
 
Berger Holdings, Ltd. Completes Fourth Acquisition in the Last Thirty-Four Months


PHILADELPHIA--(BUSINESS WIRE)--Nov. 1, 2000--Berger Holdings, Ltd. (NASDAQ:BGRH) announced it has completed the acquisition of Walker Metal Products in Atlanta, GA for a combination of cash and notes.

No new equity was issued for this acquisition. The two principals of Walker Metal have been in the roof drainage business for over forty years in the Atlanta area. Walker will continue doing business at its current location.

Mr. Theodore A. Schwartz, Chairman and CEO of the Company, stated, "We believe that this acquisition is both strategic and accretive. It will give us a stronger presence in the Southeastern U.S. market, just as our recent acquisition of Copper Craft of Dallas, TX allowed us to penetrate the Southwest. These two acquisitions will help us offset our relatively slow winter months in the Northeast." He further stated, "This action represents a continuation of our previously stated goal of growing our revenue, cash flow and net income while we reduce our outstanding shares through our stock repurchase program. This should result in increasing the intrinsic value of our Company to the ultimate long-term benefit of our loyal shareholders."
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