Elk Composite Building Products
Inc. Completes Acquisition of RailWayz, Inc.
DALLAS--(BUSINESS WIRE)--March 31, 2005--Elk Composite Building
Products Inc., a subsidiary of ElkCorp (NYSE:ELK), announced it
has completed the acquisition of the principal assets of RailWayz,
Inc., a privately-held composite railing company based in Lakewood,
New Jersey. This acquisition enhances the company's current railing
line and enables Elk to offer its customers more diverse railing
products that are complementary to both its CrossTimbers(TM) composite
decking and traditional wood decks. The company plans to move
the RailWayz operations to its expanded composite lumber facility
in Lenexa, Kansas, in the near future and will begin shipping
the new railing lines in April 2005. Additional details of the
transaction were not disclosed."
The addition of RailWayz products to our CrossTimbers railing
line enables us to offer more diverse products which look exceptional
when paired with our decking product or an existing deck,"
said Thomas Karol, chairman and chief executive officer of ElkCorp.
"This acquisition is in line with our strategy to acquire
companies that are synergistic with and enhance our current product
platforms. Our goal for growing ElkCorp is to combine our innovation,
knowledge of the industry and strong distribution channels with
small to mid-size acquisitions that enable us to gain an entry
into other areas in the building products industry and truly innovate
these markets. This acquisition strategy will enable us to ultimately
offer customers a more complete building product platform that
meets the stringent Elk standards for quality and reliability,
which customers expect from our products."
Elk will begin marketing all of its railing product lines under
the umbrella brand name RailWays(TM). In addition to its current
composite railing system, Elk will offer RailWays Old World Series
and new Traditional Series. The Old World Series is composed of
tempered aircraft aluminum alloy balusters that create a rich
look with the combination of metal and wood. The new Traditional
Series combines the look of painted wood with the durability of
composite wood. Both series carry a 20 year limited warranty and
feature RailWays revolutionary, patent-pending Uni-Ball(TM) baluster
connector system that allows quick installation of balusters without
ElkCorp, through its subsidiaries, manufactures Elk brand premium
roofing and building products (over 90% of consolidated revenue)
and provides technologically advanced products and services to
other industries. Each of ElkCorp's principal operating subsidiaries
is a leader within its particular market. Its common stock is
listed on the New York Stock Exchange (NYSE:ELK). See www.elkcorp.com
for more information.
Safe Harbor Provisions
In accordance with the safe harbor provisions of the securities
law regarding forward-looking statements, in addition to the historical
information contained herein, the above discussion contains forward-looking
statements that involve risks and uncertainties. The statements
that are not historical facts are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements usually are accompanied by words such as
"optimistic," "vision," "outlook,"
"believe," "estimate," "potential,"
"forecast," "project," "expect,"
"anticipate," "plan," "predict,"
"could," "should," "may," "likely,"
or similar words that convey the uncertainty of future events
or outcomes. These statements are based on judgments the company
believes are reasonable; however, ElkCorp's actual results could
differ materially from those discussed here. Factors that could
cause or contribute to such differences could include, but are
not limited to, changes in demand, prices, raw material costs,
transportation costs, changes in economic conditions of the various
markets the company serves, changes in the amount and severity
of inclement weather, acts of God, war or terrorism, as well as
the other risks detailed herein, and in the company's reports
filed with the Securities and Exchange Commission, including but
not limited to, its Form 10-K for the fiscal year ending June
30, 2004 and Form 10-Q for the quarter ended December 31, 2004.