Message #1 From:
NewsBot Date: April 8, 2008 08:38:52 PM
Moro Corporation Acquires HVAC Contracting Business
Moro Corporation (OTC:MRCR) today announced that it has acquired J & J
Heating and Cooling, Vestal, New York.
J & J sells, installs and services heating, ventilating and air
conditioning (HVAC) systems in the greater Binghamton, New York area.
The company’s customers are homeowners and
owners of commercial buildings. Products sold include the Lennox and
Trane brands of HVAC equipment.
This business will operate under its own name as a division of Moro’s
subsidiary Appolo Heating, which is based in Schenectady, New York and
also operates branch offices in Hopewell Junction and Middletown, New
York.
David W. Menard, President and CEO, commented: “J
& J is a premier company and its acquisition is expected to have a small
positive impact on Moro’s EPS during its first
year of ownership by Moro.”
Moro is a profitable and financially strong multi-location and
multi-subsidiary construction products and services company engaged in
the (a) fabrication of concrete reinforcing steel (rebar), sheet metal
(duct work), and process piping, (b) distribution of construction steel,
miscellaneous steel and construction accessories, and (c)
commercial/industrial/residential mechanical contracting services (HVAC,
plumbing, and piping).
For more information, contact David W. Menard, President and CEO, at dmenard@morocorp.com,
Larry Corr, Vice President at lcorr@morocorp.com,
or see www.morocorp.com.
Statement under the Private Securities Litigation Reform Act:This
press release contains certain forward-looking statements regarding,
among other things, the anticipated profitability and continued growth
of the company.Those statements are subject to known and unknown
risks, uncertainties and other factors that could cause the actual
results to differ materially from those contemplated by the statements,
including the continued ability of the company to generate operation
profits, the lack of continued demand for the company’s
products, the ability to locate and acquire suitable acquisition
opportunities, and if acquired, the failure of any such businesses to
generate operating profits.
