Dec 22 2009
Patrick Industries, Inc. (Nasdaq: PATK) (the "Company"), a major manufacturer and distributor of building and component products for the recreational vehicle (RV), manufactured housing (MH) and industrial markets, announced today that it has signed a definitive agreement to acquire certain assets of the cabinet door business of Quality Hardwoods Sales, a limited liability company. The transaction is expected to be completed in January 2010.
"This acquisition fits within the scope of our strategic plan by adding products which complement our existing RV product lines," stated Todd Cleveland, President and Chief Executive Officer. "Patrick's expertise in the cabinet door industry and its state of the art manufacturing facility afford the Company the opportunity to further drive value for its customers and shareholders and gain additional market share, while at the same time improving both our profitability and leverage positions."
Source: http://www.patrickind.com/