Thanks dusty. Thought I would repost iiccman's RB post # 53823 over here for VALH investors to read. Thanks iiccman. Here it is:
DD 23 News Articles from VALH, condensed:
CONDENSED - PLEASE REVIEW ENTIRE PRESS RELEASES
FYI Here's a quick way to refresh your memory of what the company has been saying since the first of the year,2000. Each of the paragraphs below contains the "meat" of the particular release.
Note that this company actually does what it says it will, doesn't use a lot of "will do's" and doesn't allude to deals with unnamed companies that never materialize.
#1 TORONTO--(BUSINESS WIRE)--Jan. 11, 2000--Network Forest Products Limited, a wholly owned subsidiary of Value Holdings, Inc. (OTCBB:VALH), today announced the formation of an Industrial Trading and Sales Division which will concentrate on selling wood products to the crating, packaging, remanufacturing, pallet and bed frame segments of the industry....
Network Forest Products expects that this division will add approximately 20 million (Canadian Dollars) in new sales to the company. Further, this division will improve the company's purchasing power in the marketplace and help its overall distribution by providing additional channels. It will also provide an increase in the company's customer and supplier base. This diversification will help the company maintain its growth should any one sector experience a downturn...
#2 MIAMI--(BUSINESS WIRE)--Jan. 31, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced revenues of 46,065,939 for the year ended October 31, 1999. Revenues for the company's fiscal fourth quarter were more than 21 million, 24 (%) higher than the previous quarter... Earnings before interest, taxes, depreciation and amortization were 2,328,475. Net income rose to 993,365 as compared to a net loss of 2,896,746 in 1998. The company also recorded a gain of 225,264 due to foreign currency translation, giving the company comprehensive income of 1,218,629. Additionally, due to the tremendous increase in sales during the last fiscal year, the company elected to increase its bad debt reserve to 541,000. Value Holdings expects that a portion of this reserve will come back into income in subsequent quarters.
#3 MIAMI--(BUSINESS WIRE)--Feb. 4, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced that through its Network Forest Products Limited subsidiary it has acquired 471372 Ontario Limited which was doing business as Harron Home Hardware...With the addition of Harron's sales of more than 13 million (US Dollars), Value Holdings' annualized pro forma revenues would have exceeded 68 million (US Dollars) (100 million Canadian Dollars) for 1999... "This represents the start of the second phase of our growth initiative. We intend to grow both revenues and sales through increasing internal efficiencies and sales efforts and also through the acquisition of profitable companies that complement our core business." Harron has signed new dealer agreements with Castle Building Centers, a major Canadian buying Co-Op with over 230 stores across Canada, and with Weber Supply, a major hardware and industrial equipment supplier...
#4 TORONTO--(BUSINESS WIRE)--Feb. 14, 2000--Network Forest Products Limited, a wholly-owned subsidiary of Value Holdings, Inc. (OTCBB:VALH) today announced that it has entered into an agreement to lease an additional 4 acres of land near its existing Toronto facilities. .. The land located at 33 Passmore Avenue in Agincourt, Ontario also includes a 6,000 square foot building which Network will use to house a new strip line that could increase output per shift by as much as 300. The strip line is used in the manufacture of wood in dimensions used by industrial customers...
#5 MIAMI, Fla.--(BUSINESS WIRE)--March 10, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced that the seventh Cami's Seafood and Pasta restaurant will have its grand opening in Margate, Florida next week.
#6 MIAMI--(BUSINESS WIRE)--March 15, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced revenues of 24,521,702 for the quarter ended January 31, 2000.
Net income for the quarter was 1,949,791. This financial information was provided in the company's filing on Form 10-QSB filed with the Securities and Exchange Commission. ... Earnings before interest, taxes, depreciation and amortization were 2,733,832. Net income was 1,949,791 as compared to a net loss of 166,886 for the same quarter in 1999. Additionally, due to the fluctuations in the price of lumber, the company elected to create a reserve of 500,000 for inventory adjustments. ...
... Mr. Ziner also said that the company intends to continue to seek out acquisitions in the forest products sector. The company expects to close on its purchase of Cutler Forest Products and Seabright Wood Fabricators at the beginning of its third fiscal quarter. The company's total assets rose to 34,019,788, while total liabilities were 24,580,635.
#7 TORONTO--(BUSINESS WIRE)--March 20, 2000--Network Forest Products Ltd., a wholly-owned subsidiary of Value Holdings, Inc. (OTC BB: VALH), today announced that it has entered into an Agreement in Principle with the Michipicoten First Nation setting out the terms of a joint venture where Network will provide machinery, financing, technical assistance and training to the Michipicoten First Nation for the creation of a pallet manufacturing and a lumber remanufacturing facility.
#8 MIAMI--(BUSINESS WIRE)--April 12, 2000--Value Holdings, Inc., (OTCBB:VALH) today announced that its new redesigned web site is now live at www.valueholdings.com.
#9 HOLLYWOOD, Calif., April 14 /PRNewswire/ -- Emerging Company Report, the nationally syndicated television program profiling emerging-growth companies (http://www.emergingcompany.com), features an interview this week with Value Holdings, Inc. (OTC Bulletin Board: VALH).
CEO Robert Ziner described Value Holdings, Inc. as being formed to acquire companies, with the goal to build well-run independent subsidiaries, with compound revenue growth rates. Through its subsidiaries, the company converts low grade lumber via a remanufacturing process, allowing low grade lumber to be turned into a higher grade lumber suitable for various uses and commanding a higher price.
"Revenues for the first quarter 2000 exceeded 24 million," said Ziner, "with net income of nearly 2 million...
#10 MIAMI--(BUSINESS WIRE)--April 24, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced that it has entered into an agreement to sell its Cami's Seafood and Pasta restaurant licenses and related assets for 1.33 million.
The parties expect that the transaction will close by May 31, 2000. Value Holdings will continue to receive license fees from the restaurant operations through the time of closing. Total revenue from licensed restaurant operations in Fiscal 1999 was 354,000. Revenue from lumber operations for Fiscal 1999 were in excess of 45 million.
#11 MIAMI--(BUSINESS WIRE)---May 2, 2000--Value Holdings, Inc. (OTCBB:VALH) President and CEO Robert Ziner said today that the continued strength in the home building market and the rise in general construction starts means that the overall economy is doing well and that consumer confidence remains high. ...Like many other companies the recent stock market downturn has had an impact on our share price. However, I remain confident in our fundamentals and our business model. We are operating from a position of strength in the marketplace and look forward to our expansion through acquisition, through the addition of our Industrial Trading Division and our planned 25,000 square foot remanufacturing facility. Value Holdings is committed to consistently delivering profits, growth and increasing shareholder value." (Robert Zinner)
#12 TORONTO--(BUSINESS WIRE)--May 4, 2000--Network Forest Products Limited, a wholly owned subsidiary of Value Holdings, Inc. (OTCBB:VALH) announced today that it has commenced construction expanding its office space at its Toronto lumber facility. Network operates out of a 6,000 square foot office space with 22,000 square feet of mill and warehouse space on 18 acres of land on Passmore Avenue in Toronto. The expansion will add 5,000 square feet of office space to the facility. The extra space will be used for an expanded sales and office staff necessitated by the company(1)s tremendous growth over the last 12 months.
"We need to accommodate our growth," said Lyon Wexler, Chief Operating Officer of Network. "With our sales growth, the addition of the industrial trading division, the new remanufacturing facility and our current acquisitions, we are running out of space. We want to make sure that our people have room to work and that we have more room to add people."
The company has previously announced the addition of a 25,000 square foot remanufacturing facility to be built on the property as well as the addition of its industrial trading division which started in late January 2000.
Sales at Value Holdings increased from 8.5 million for the quarter ended April 30, 1999 to more than 24 million in its most recent quarter which was from November 1999 through January 2000. The company's next earnings release is expected on June 15, 2000.
#13 HOLLYWOOD, Calif., June 2 /PRNewswire/ -- Emerging Company Report, the nationally syndicated television program profiling emerging-growth companies (http://www.emergingcompany.com), features interviews this week with Rhombic Corporation (OTC Bulletin Board: NUKE) and Value Holdings, Inc. (OTC Bulletin Board: VALH).
Robert Ziner, CEO of Value Holdings, Inc. described his company's technology for lumber remanufacturing. "The company converts low grade lumber via the remanufacturing process," he said, "allowing low grade lumber to be turned into a higher grade lumber suitable for various uses and commanding a higher price. We are operating from a position of strength in the marketplace and look forward to our expansion through acquisition, through the addition of our Industrial Trading Division and our planned 25,000 square foot remanufacturing facility." Value Holdings reported sales increased to 24.5 million for the quarter ended January 31, 2000. Information packages about featured companies can be requested by sending an email to info@emergingcompany.com.
#14 TORONTO--(BUSINESS WIRE)--June 8, 2000--Network Forest Products Limited, a wholly-owned subsidiary of Value Holdings, Inc. (OTCBB:VALH), is pleased to announce its sponsorship of the John Ziner Golf Classic to be played on Friday, June 9, 2000 in Toronto, Canada.
The golf tournament is for the benefit of Canine Vision Canada, a charitable organization that trains seeing eye dogs. In addition to the golf tournament there will be an auction and a raffle. Robert Ziner, president and CEO of Value Holdings, and also the tournament chairman, hopes to raise 30,000 for Canine Vision Canada.
"This will be the 22nd year for this golf tournament," Ziner said. "We have raised over 200,000 for Canine Vision Canada over the years and are their largest corporate sponsor. It costs more than 7,000 to train a seeing-eye guide dog and there is no government assistance available. So, it is important for us in the private sector to contribute to worthwhile causes such as this."
The tournament is named for Mr. Ziner's father, John Ziner and was previously sponsored by John Ziner Lumber Ltd., the predecessor of Network Forest Products.
#15 MIAMI--(BUSINESS WIRE)-- June 15, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced revenues of 30,411,910 for the quarter ended April 30, 2000. Net income for the quarter was 775,112. This financial information was provided in the company(1)s filing on Form 10-QSB filed with the Securities and Exchange Commission.
Earnings before interest, taxes, depreciation and amortization were 1,834,007. Net income was 775,112 as compared to 630,006 for the same quarter in 1999. Revenues for the six months ended April 30, 2000 were 54,933,612 and net income for the six months ended April 30, 2000 was 2,724,903.
Lumber operations accounted for 30.2 million in revenues while licensing fees from Cami(1)s Seafood & Pasta restaurant operations accounted for 107,853. The company has announced that intends to sell the Cami(1)s Seafood and Pasta licenses by the end of June for approximately 1.33 million.
"Despite a significant drop in the price of lumber we were able to increase sales by 24 over last quarter and by 95 over last year's proforma sales for the same quarter," said Robert Ziner President and CEO of Value Holdings. "The acquisition of Harron Hardware and Building Supplies has already added to revenues and earnings and we look forward to continued growth there."
The decrease in net income as compared to the first quarter of the fiscal year, despite the significant increase in sales, is due to a nearly 15 drop in lumber prices which held down margins. However, the drop in lumber prices has allowed the company to replenish inventory at a lower price point going into the summer building season.
Mr. Ziner also said that the company intends to continue seeking out acquisitions. The company expects to close on its purchase of Cutler Forest Products and Seabright Wood Fabricators within 30 days. The company's total assets rose to 40,072,898 from 34,019,788 in the last quarter.
#16 MIAMI--(BUSINESS WIRE)--July 5, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced that it has completed the sale of Cami's Seafood & Pasta to CamFam, Inc. for 1.33 million.
Value Holdings owned the Cami's concept and the intellectual property associated with the seafood restaurant chain, but the restaurants had operated by CamFam under a license agreement since 1995.
"The Cami's operations accounted for less than 1 of revenues over the last 12 months," said Alison Cohen who directed restaurant operations for Value Holdings. "The sale of Cami's will allow Value to pay off certain debts associated with the restaurants and let us focus on our core distribution business.
#17 MIAMI--(BUSINESS WIRE)--Aug. 10, 2000--Value Holdings, Inc. (OTCBB:VALH), today announced that it has entered into an agreement to purchase MGI Packers, Inc., a meat slaughtering, processing and distribution company located in Kitchener, Ontario.
MGI generated sales of more than 85 million (U.S.) in its most recent fiscal year. The company also has assets of approximately 11 million (U.S.). Value Holdings anticipates that this would give the company the required equity to apply for a listing on a national stock exchange such as the NASDAQ. Key management personnel will stay with the company.
"We intend to leverage our expertise in the wholesale distribution of commodity products to expand sales and increase profitability at MGI," said Robert Ziner, President and CEO of Value Holldings, Inc.
MGI, in addition to its regular meat processing operations, also produces Halal certified meats for
#18 VALUE HOLDINGS INC - Network Forest Products Completes Acquisition of CutlerForest - Products and Seabright Wood Fabricators
Mon Aug 14 11:31:00 EDT 2000
Network Forest Products, Ltd., a wholly-owned subsidiary of Value
Holdings, Inc., announced that it has completed its purchase of Cutler Forest
Products and Seabright Wood Fabricators.
Toronto, Ontario, Aug. 14, 2000 (Market News Publishing via COMTEX) -- Together,
Cutler and Seabright are one of the largest wholesalers and fabricators of wood
products in Ontario. Their primary market is the sale of plywood and composite
board to various manufacturers and other industries. The acquisition is expected
to add nearly $3 million (Canadian Dollars) per month in revenue. It is expected
that the acquisition will add to earnings in the current quarter. Management of
Cutler and Seabright have entered into employment agreements and will stay on to
run the acquired operations.
"The addition of Cutler Forest Products and Seabright Wood Fabricators to
Network Forest Products helps us to continue to diversify our product offerings
and shifts us towards higher margin products," said Robert Ziner, President and
CEO of Value Holdings and Network Forest Products.
The acquisition was for cash and approximately 1 million shares of Value
Holdings, Inc., common stock. Concurrent with the purchase of Cutler and
Seabright, Network Forest Products' borrowing facility with GMAC Credit --
Canada increased to $58 million (Canadian Dollars).
[Editorial comment. $58 million Canadian is about $40 million US]
#19 MIAMI--(BUSINESS WIRE)--Sept. 13, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced that it has entered into an agreement to acquire ABS Woodworking Ltd., a Toronto-based manufacturer of wooden seats and seat backs.
ABS uses mostly particle and composite board in its manufacturing process. The company sells its products to a variety of office furniture manufacturers in Canada and the United States. In their most recent fiscal year ABS had sales of more than 9 million (Canadian Dollars). It is expected that ABS will work closely with Cutler Forest Products and Seabright Wood Fabricators, which were recently acquired by Value Holdings.
"ABS Woodworking will nicely complement our recent acquisition of Cutler and Seabright," said Robert Ziner, President and CEO of Value Holdings, Inc. "We are pleased to be able to add another high quality company to our wood group. We expect to be able to take advantage of the compatibilities between our subsidiaries to realize increased efficiencies and increased earnings."
The purchase price will be paid in cash. Value anticipates completion of the acquisition by November 30, 2000.
#20 MIAMI--(BUSINESS WIRE)-- Sept. 15, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced revenues of 35,747,588 for the quarter ended July 31, 2000. Net income for the quarter was 1,438,912. This financial information was provided in the company's filing on Form 10-QSB filed with the Securities and Exchange Commission.
For the nine months ended July 31, 2000 Value Holdings' revenues were 90,495,350 and net income was 4,163,815 or approximately .03 per share. For the same period in 1999, revenues were 24,716,991 and net income was 1,434,904 or approximately .015 per share. Shareholders' equity rose to 4,900,479.
Net income for the third quarter ended July 31, 2000 includes a gain of 1,130,833 on the sale of the company's Cami's Seafood and Pasta license agreements and associated assets. Revenue and earnings figures do not include any revenue or earnings related to Cutler Forest Products or Seabright Wood Fabricators Limited, which were both acquired during the company's fiscal fourth quarter.
"We are pleased with our third quarter results," said Robert Ziner President and CEO of Value Holdings. "Despite low lumber prices we have continued to increase sales and maintain profitability. During the coming quarter we intend to integrate Cutler Forest Products and Seabright Wood Fabricators so as to realize increased margins from their product lines. We continue to implement our growth strategy and achieve our business goals. The diversification of our product line and our addition of higher margin products, such as those from Cutler, Seabright and ABS Woodworking, will decrease our susceptibility to fluctuations in the price of lumber."
#21 MIAMI--(BUSINESS WIRE)--Nov. 14, 2000--Value Holdings, Inc. (OTCBB:VALH - news) today announced that it is not proceeding with its acquisition of MGI Packers Inc. due to material changes in the affairs of MGI.
``We do not expect that this will affect any of our future plans,'' said Robert Ziner, President and CEO of Value Holdings, Inc. ``It is important for Value Holdings to maintain its fiscal discipline and only move forward with an acquisition when it is fiscally prudent to do so.''
Value Holdings is still moving forward with its planned acquisition of ABS Woodworking. Value Holdings will be holding its annual meeting of shareholders on November 27, 2000 in Surfside, Florida.
# 22 MIAMI--(BUSINESS WIRE)--Nov. 29, 2000--Value Holdings Inc.'s (OTCBB:VALH - news) CEO Robert Ziner addressed shareholders and answered questions at the company's annual meeting of shareholders Monday in Miami.
Mr. Ziner addressed several areas of shareholder concern and gave a report on the state of the company. During the past year the company has sold its Cami's Seafood & Pasta restaurant division and has made three acquisitions in the lumber distribution business -- Harron Hardware and Building Supplies, Cutler Forest Products and Seabright Wood Fabricators. Mr. Ziner stated that the company gets requests from companies looking to be acquired and that the company intends to continue making acquisitions.
``I am very pleased with the progress Value Holdings has made over the last year,'' said Mr. Ziner. ``We have significantly increased our revenues and earnings and will continue to grow through increasing sales and efficiencies internally, and by continuing to make acquisitions of other profitable companies.''
After Mr. Ziner's remarks about the company, shareholders had the opportunity to ask questions. Mr. Ziner answered some of the following questions:
Question: Does Value Holdings do business with Home Depot?
Answer: Yes. Value Holdings' subsidiary, Cutler Forest products,
is a supplier to Home Depot for that company's stores in
Eastern Canada. Cutler and Home Depot are working
together to expand their relationship.
Question: Will the special B shares which are convertible to common
shares of Value Holdings be restructured?
Answer: Yes. Value Holdings is looking to retain an investment
banking firm that can advise the company about
restructuring the special B shares and implementing a
poison pill or shareholder's rights plan.
Question: What is the status of implementing the Opti-Stress
System?
Answer: The company intends to build the first Opti-Stress
enabled plant and is in ongoing discussions with a third
party.
Question: What is Value Holdings doing to help the price of its
stock?
Answer: Value Holdings is evaluating proposals from several
public relations and investor relations firms. The
company intends to accept one of the proposals before the
end of the year. Additionally, Value Holdings believes
that its best tool to increase shareholder value is to
continue growing both revenue and earnings.
#23 MIAMI, Dec. 5 /PRNewswire/ -- Value Holdings, Inc. (OTC Bulletin Board: VALH), a holding company formed to acquire and consolidate industrial distribution businesses relating to the lumber and general building materials industry, today announced that it has retained Rubenstein Investor Relations, Inc. as Investor Relations counsel.
"We are very pleased to announce that we have retained Rubenstein Investor Relations, Inc. as our investor relations counsel. The management of Value Holdings, Inc. has made a commitment to build the company through growth and expansion, and in the process, unlocking shareholder value. Clearly it is paramount to our success that we are able to communicate with the investment community and position ourselves whereby we work toward a solid valuation. Bringing Rubenstein Investor Relations on board is an integral step in this process and we are very enthusiastic to get the ball rolling," said Robert Ziner, President and CEO of Value Holdings, Inc.
"This is a fantastic opportunity for us to work with the management of Value Holdings, Inc. to redefine and reintroduce the company to the investment community. Value Holdings, Inc. is poised to move forward and take advantage of the current market conditions, establishing a strong foundation for future growth. We are very excited to have Value Holdings, Inc. as our new client," said Richard Rubenstein, President and CEO of Rubenstein Investor Relations, Inc.
About Rubenstein Investor Relations, Inc.
Rubenstein Investor Relations is an integrated communications partner for publicly traded and future publicly traded companies. The Company specializes in facilitating the development of today's small and micro-cap companies, bringing their stories to the financial communities. Through the firm's extensive network of proprietary contacts, clients have been helped to form strategic alliances resulting in primary and secondary offerings, debt financing and restructuring, and company/brand reinforcement or re-definition.
About Value Holdings, Inc.
Value Holdings, Inc. is a holding company formed to acquire and consolidate industrial distribution businesses relating to the lumber and general building materials industry. The corporate goal is to build well-run independent subsidiaries, that have solid market niches with compounded growth rates in terms of revenues and earnings. |
