LONDON, Feb. 16, 2005 (PRIMEZONE) -- AdAl Group, Inc. (OTCBB:ADGR), an aluminum technologies roll-up, today announced its recent $3 million acquisition of Guilform Holdings Ltd ("Guilform"), which will be renamed AdAl Guilform Ltd. AdAl also announced the formation of a new division, AdAl Architectural, of which Guilform will be a part. AdAl Architectural will focus on architectural design and manufacturing in the construction and building industry.
The Guilform acquisition will add diversification to AdAl's already existing aluminium extrusion products and services. AdAl management expects this diversification to rapidly propel AdAl's revenues in 2005. AdAl will also provide the platform necessary to grow Guilform's existing business through increased margins, market share and revenues.
Guilform makes aluminum-based products for use in architecture, notably its metal cladding panels and composite panels which provide thermal and acoustic insulation and fire protection. Total revenues for 2004 were approximately $5 million. The company's $2.5 million manufacturing facility is located in St. Albans, 20 miles north of London. The Guilform brand was established in 1976.
Nick Shrager, Chairman & CEO of AdAl, said, "We are all delighted with the conclusion of this transaction. Bringing Guilform and its team into the AdAl fold creates a whole new skyline of growth for the Company. Guilform's workforce is very experienced and highly flexible. AdAl Seco already provides a range of niche aluminum products to the construction industry, so AdAl Architectural is really about creating opportunities from our core strengths."
Gary O'Connor will be the new Managing Director of AdAl Guilform. Mr. O'Connor has 20 years of experience in the industry and has overseen a number of prestigious construction projects, including the British Museum's celebrated Queen Elizabeth II Great Court.
Keith Broome, former Managing Director and owner of Guilform, has been appointed as a non-executive director of AdAl.
About AdAl Group, Inc.
AdAl Group, Inc., headquartered in the United Kingdom, is an aluminum technologies roll-up, combining several well-established manufacturing businesses that provide complete one-stop, just-in-time aluminum extrusion services to U.K. and continental European customers. AdAl is also developing several proprietary products with innovative aluminum-based technologies for use in the energy, transport and construction sectors. AdAl has a multi-faceted strategic plan to grow rapidly through acquisitions (in the U.S. and Europe), new product introductions, expanded production capacity, and increased productivity.
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