Some companies do like to release news on Friday afternoons in order to have the news spread over the entire weekend in order for a bigger impact starting on Monday morning. The CDNO corporate profile on Talk-Stock Radio (http://www.talk-stock.com/enmainfr.htm) did reach the MMs along with us at the same time, so I'm sure they are very leary of selling this low. Especially, since the article DOES mention the "acquisition" we are all waiting to hear about at any time. With any buying pressure at all, the price will be forced up. Apparently, CDNO is STILL "undiscovered" by the investing world this morning. CDNO execs should want to accelerate this press release delivery, so we'll keep watching closely.
Re-Post of Talk-Stock Radio CDNO promotion:
EXECUTIVE SUMMARY
Consolidated Capital of North America, Inc., OTC BB: CDNO, is a company that focuses on the steel frame building business and steel service center operations. The Company's business strategy consists of increasing its profitability through expansion of its existing operations and acquisitions of businesses that are strategically located or positioned to diversify or enhance the Company's customer base, product range and geographic coverage. Consequently, CDNO achieved the acquisitions of Angeles Metal Trim Co., West Coast Steel Processing and Toledo Pickling and Steel, Inc., in the past two years.
Angeles Metal Trim Co., which operates as Angeles Metal Systems, has earned renown in the construction industry, throughout its 45 years of service. Its business focuses on fabricating and selling light gauge steel framing materials for both commercial and residential structures. Angeles also provides technical support, engineering and estimated services for specialized projects, primarily in the residential housing market. Among its line of products include galvanized steel components, framing materials, studs, tracks, trusses and joists for domestic and international markets. In 1998, the commercial construction market segment represented approximately 91% of Angeles' sales, while the residential construction market comprised the remaining 9%. CDNO expects its sales in the residential construction market to grow, due to the recent escalation in lumber prices. Aside from its comparatively lower cost than lumber, steel also guarantees longer life, greater structural integrity, faster construction time, better ease of assembly and, lastly, an incomparable ability to be re-cycled. Therefore, as an early entry into the growing market, Angeles is perceived as having an advantage over its competitors in terms of designing and engineering products, training framers and subcontractors and developing relationships with builders.
West Coast Steel Processing, formerly known as Capitol Metals Co., Inc., is a privately held steel processing and service center headquartered in Torrance, Calif. From its development in 1946, it has grown to become one of the largest flat-rolled steel service facilities in Southern California. West Coast processes a variety of flat rolled carbon steel products, including hot rolled, pickled and oiled, cold rolled, galvanized and aluminized steel. As part of its services, West Coast processes steel to the precise thickness, length, width, shape and surface quality specified by its customers. In order to meet its customers' needs, West Coast provides special processes, such as cutting to length, leveling, slitting, pickling and edge trimming. Approximately 70% of West Coast's 1998 revenues were derived from processed steel sales and approximately 30% were derived from steel processing services. CDNO believes this acquisition will provide it with several advantages toward achieving the Company's business objective to increase its profitability.
Toledo Pickling and Steel, Inc., which is headquartered in Toledo, Ohio, operates as a steel service center that sells and processes several flat-rolled carbon steel products, including hot rolled, pickled and oiled, pickled and dry lubed, cold rolled and galvanized steel. Aside from its products, Toledo Pickling also offers its customers many services, such as leveling, slitting, pickling, trimming, shearing and blanking. In addition, Toledo Pickling is able to perform a variety of industry product and property tests, ranging from chemical analysis to physical properties. With over 300 customers in more than 25 industries, Toledo Pickling has gained a diverse customer base and broad product mix, primarily serving the Midwestern and Eastern part of the United States.
CDNO predicts that the acquisitions of Angeles, West Coast and Toledo Pickling will all contribute in achieving the Company's objective to increase its profitability and, altogether, further its success and recognition.
FINANCIALS
Consolidated Capital of North America, Inc. is in preliminary negotiations with potential acquisition candidates. In order to facilitate the financing of these acquisitions, the Company has entered into an engagement with an investment-banking firm to act as its agent for the placement of the Company's securities.
MANAGEMENT TEAM
Consolidated Capital of North America, Inc.'s management team embodies professionals with an extensive experience in investment and production industries.
Paul Bagley, Chairman of the Board and Chief Executive Officer
Mr. Bagley has served as CDNO's Chairman of the Board of Directors since November 1997 and as Chief Executive Officer since March 1998. He has also served as a Director of the Company since January 1997. Mr. Bagley holds several other positions, including Managing Member of the Stone Pine Companies, a group of companies involved in investment banking since 1994, Chairman and Chief Executive Officer of FCM Fiduciary Capital Management Company, an investment company, since 1989, among others. From January 1995 to November 1996, he was Chief Executive Officer of Laidlaw Holdings, Inc., an investment services company. For more than twenty years prior to October 1988, Mr. Bagley was engaged in investment banking activities with Shearson Lehman Hutton Inc. and its predecessor, E.F. Hutton & Company Inc., where he served in various capacities, including Executive Vice President, Director, Managing Director, Head of Direct Investment Origination and Manager of Corporate Finance. In addition, he offers his service to other companies, such as Silver Screen Management, Inc., International Film Investors, Inc., Hollis-Eden Pharmaceuticals, Inc., LMC Corporation and Hamilton Lane Private Equity Fund, PLC. Academically, Mr. Bagley graduated from the University of California at Berkeley in 1965 with a BS in Business and Economics and from Harvard Business School in 1968 with an MBA in Finance.
Richard D. Bailey, President, Chief Operating Officer and Director
Mr. Bailey has served as CDNO's President and Chief Operating Officer of the Company
Since August 1998 and Director of the Company since March 1998. From April 1994 to August 1998, Mr. Bailey was the President of RDB Capital Advisers, LLC, a privately held company involved in investment banking activities. During 1995, he acquired restructured and subsequently sold the Rigging Company, a mail order manufacturer of custom yacht rigging. Prior thereto, from 1991 to 1994, Mr. Bailey was a Principal of the New England Wire Company, a manufacturer of specialty shaped wire and cable with primary applications in the defense, electronics, safety and consumer products industries. From 1986 to 1991, he was the Executive Vice President of Pennsylvania Rolling Mills, Inc., a manufacturer of cold rolled carbon strip steel, supplying the automotive, defense and building products industries. Academically, Mr. Bailey holds a BA in Political Science from Providence College and an MA in International Relations from Fairfield University.
INVESTOR RELATIONS PACKAGE
Consolidated Capital of North America, Inc. investor relations packages are available through Talk-Stock with Me. To obtain one, simply click here to submit an e-mail request.
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