Universal Forest Products®, Inc. Terminates Negotiations With Aljoma Lumber
GRAND RAPIDS, Mich., June 19 /PRNewswire/ -- Universal Forest Products® (Nasdaq: UFPI) today announced that Aljoma Lumber had withdrawn from the acquisition negotiations previously reported on March 29, 2000.
"While Aljoma Lumber would have been a good strategic and geographical fit for our company, there were several business and operational issues that could not be overcome at this time," said William G. Currie, UFPI's chief executive officer. "We have met with Aljoma's senior management and they have decided to withdraw from the negotiation process. We would hope to reanalyze the company at a later date."
Universal Forest Products® markets, manufactures, and engineers products for D-I-Y retail home centers, structural lumber products for the manufactured housing industry, engineered wood components for the site-built construction market, and specialty wood packaging for various industries. For information about Universal Forest Products® on the Internet, please contact the company's investor relations web site at www.ufpi.com , or call 888-Buy-UFPI.
Included in this report are certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are based on the beliefs of the Company's management as well as on assumptions made by and information currently available to the Company at the time such statements were made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. These risk factors and additional information are included in the company's reports on Form 10K and 10Q on file with the Securities and Exchange Commission. SOURCE Universal Forest Products, Inc.
CONTACT: Charles R. Felix, Sr. V.P. Development and Investor Relations, 616-364-6161, or Michael R. Cole, V. P. of Finance, 616-364-6161, both of Universal Forest Products, Inc.; or Matthew Della Croce, Vice President, 212-453-2316, or Pat McCoy, Managing Supervisor, 212-453-2272, both of Fleishman Hillard/