TEMPE, Ariz., Jan. 29, 2007 (PRIME NEWSWIRE) -- Mobile Mini, Inc. (Nasdaq:MINI) today announced that it has completed the purchase of the storage lease fleet of Worcester Leasing Company, Inc. in Worcester, Vermont for approximately $2.4 million in cash. With this new location, Mobile Mini has a total of 63 branches.
Steven Bunger, Chairman, President and CEO of Mobile Mini, stated, "Our new Vermont location, which serves the entire state, gives us a much stronger presence in the Northeast. There is a good mix of customers including retailers, contractors, homebuilders, consumers, and industrial companies, which we plan to expand. To optimize branch performance, we will have an experienced Mobile Mini person managing this location; the product line will be expanded and upgraded; our sophisticated MIS systems will be installed; and new signage, direct mail and advertising programs will be implemented. This winning formula has resulted in a ramp-up of storage units on rent at prior new locations and we look forward to mirroring this success in Vermont. With this, our first new location of the year, we are moving forward with our 2007 goal of four to six new domestic branches."
Mobile Mini, Inc. is the world's leading provider of portable storage solutions through its total fleet of over 156,000 portable storage units and portable offices with 63 branches in U.S., United Kingdom, Canada and The Netherlands. Mobile Mini is included on the Russell 2000(r) and 3000(r) Indexes and the S&P Small Cap Index.
This news release contains forward-looking statements, particularly regarding operating prospects and expansion opportunities for 2007 and beyond, which involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Risks and uncertainties that may affect future results include those that are described from time to time in the Company's SEC filings. These forward-looking statements represent the judgment of the Company, as of the date of this release, and Mobile Mini disclaims any intent or obligation to update forward-looking statements.