Sterling Consolidated Acquisition Committee Provides Update
30 Octobre 2013 - 1:00PM
Sterling Consolidated Corp. (OTCBB:STCC) (the
"Company"), a leading supplier of hydraulic and pneumatic seals to
the automotive and industrial marketplace, today announced that its
Acquisition Committee (the "Committee") has accelerated the
negotiations of its next acquisition target as the Company looks to
further consolidate the highly fragmented O-ring distributor
market. Following the Company's initial acquisition of Superior
Seals and Service, the Committee has increased its efforts as
Sterling continues to position itself as a growing and leading
supplier of hydraulic and pneumatic seals.
The Acquisition Committee has expanded its target list that
includes potential strategic companies to be acquired in the
following states:
- Florida
- New Jersey
- Pennsylvania
- West Virginia
Darren DeRosa, Chief Executive Officer of Sterling Consolidated,
commented, "With our first acquisition completed, sooner that
expected, we are continuing to execute on our business plan. We are
aggressively structuring deals with additional O-ring distributors
that will help expand Sterling's footprint. We have targeted
several regionally strategic and well run companies along the East
Coast, as we are intent on rapidly growing our Company."
The Committee continues to perform due diligence on several
candidates as it looks to strategically incorporate companies that
will help further Sterling's business strategy and increase
shareholder value. Sterling will continue to provide updates as it
nears and completes additional acquisitions.
About Sterling Consolidated Corp.
Sterling Consolidated Corp., through its wholly-owned
subsidiary, Sterling Seal and Supply has been a leading supplier of
hydraulic and pneumatic seals to the automotive and industrial
marketplace for more than 40 years. Through a combination of
leveraging its logistical expertise and sophisticated, experienced
management, the company intends to be an active and strategic
consolidator of small- and mid-sized businesses within the
highly-fragmented, multi-billion dollar seal industry. Currently
serving more than 3,000 customers, Sterling offers acquisition
targets a unique growth opportunity and competitive advantage
through logistical expertise, strong regional branding and
industry-specific distribution centers.
Forward-looking Statements
This release contains statements that constitute forward-looking
statements. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the Company, its directors or its officers with
respect to, among other things: (i) the Company's financing plans;
(ii) trends affecting the Company's financial condition or results
of operations; (iii) the Company's growth strategy and operating
strategy; and (iv) the declaration and payment of dividends. The
words "may," "would," "will," "expect," "estimate," "anticipate,"
"believe," "intend," and similar expressions and variations thereof
are intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors.
CONTACT: Communications Contacts:
Todd Fromer / Phil Carlson
KCSA Strategic Communications
Phone: 212-896-1215 / 212-896-1233
Email: tfromer@kcsa.com / pcarlson@kcsa.com
Sterling Consolidated (CE) (USOTC:STCC)
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