Moro Corporation (OTC:MRCR) today announced that it has acquired J & J Sheet Metal Works, Vestal, New York.
J & J fabricates and installs commercial grade sheet metal products used in the heating, ventilating and air conditioning (HVAC) industry.
The company's customers are primarily mechanical contractors doing HVAC work for schools, hospitals, and industrial, commercial and governmental buildings. The company's customers are located primarily in the Southern Tier Region of New York State, which includes communities such as Elmira, Binghamton, Endicott, Johnson City, Norwich, Oneonta and Cooperstown.
J & J, which has about 45 non-union employees, is a profitable and financially strong company. J & J was founded in 1941 by the grandfathers of Mike and Ralph Azersky. Mike as President and Ralph as Vice President will continue to manage the company. J & J will be part of Moro's Mechanical Contracting segment which includes Rado Enterprises, Inc., Bloomsburg, PA - sheet metal fabrication and mechanical contracting (HVAC, plumbing, process piping) for commercial customers - and Appolo Heating, Inc., Schenectady, NY, Hopewell Junction, NY, Middletown, NY (sheet metal fabrication and HVAC contracting for residential and commercial customers).
David W. Menard, President and CEO, commented: "J & J is an excellent fit with the other members of the family of Moro companies. J & J is a premier company and its acquisition is expected to immediately contribute to Moro's EPS."
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), structural steel 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.