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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 drilling.

About ElkCorp:
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.

 

 

Elk Corp Stock Quote
Date: 3/10/2006
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Symbol: ELK 34.99 Last Updated: 4:03pm EST
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