Patrick Industries Elects New Member to its Board of Directors

Tag : Industrial Laminates

ELKHART, Ind., July 24 /PRNewswire-FirstCall/ -- PatrickIndustries, Inc. today announced the appointment of Joseph M. Cerulli to the board,effective July 21, 2008.
Mr. Cerulli, 49, has been employed by Tontine Associates, LLC, aGreenwich, Conn.-based investment firm, since January 2007. Priorto that, Mr. Cerulli was an independent financial consultant from2002 to 2006. From 1985 to 2001, Mr. Cerulli was an investmentbanker with Kidder, Peabody & Co. Incorporated, PaineWebberIncorporated and UBS Warburg, LLC.
"We are pleased to welcome Joe to the board, and confidentthat his leadership and experience will be an asset to the Companyas we execute on our strategic plan and continue to focus onincreasing shareholder value," said Paul Hassler, Chairman andChief Executive Officer of Patrick Industries.
About Patrick Industries
Patrick Industries, Inc. ( www.patrickind.com ) is a major manufacturer of component products and a distributorof building products serving the Manufactured Housing, RecreationalVehicle, kitchen cabinet, home and office furniture, fixture andcommercial furnishings, marine, and other Industrial markets andoperates coast-to-coast through locations in 14 states. Patrick'smajor manufactured products include cabinet and wall components,countertops, and aluminum extrusions. The Company also distributesdrywall and drywall finishing products, interior passage doors,flooring, vinyl and cement siding, ceramic tile, high-pressurelaminates, and other miscellaneous products. In May 2007, Patrickacquired Adorn, LLC, a manufacturer and supplier of interiorcomponents to the recreational vehicle and manufactured housingindustries.
Forward-Looking Information
This press release contains certain "forward-lookingstatements" within the meaning of the Private SecuritiesLitigation Reform Act of 1995 with respect to financial condition,results of operations, business strategies, operating efficienciesor synergies, competitive position, growth opportunities forexisting products, plans and objectives of management, markets forthe Company's common stock and other matters. Statements in thispress release that are not historical facts are"forward-looking statements" for the purpose of the safeharbor provided by Section 21E of the Exchange Act and Section 27Aof the Securities Act. Forward-looking statements, including,without limitation, those relating to our future businessprospects, revenues and income, wherever they occur in this pressrelease, are necessarily estimates reflecting the best judgment ofour senior management at the time such statements were made, andinvolve a number of risks and uncertainties that could cause actualresults to differ materially from those suggested byforward-looking statements. The Company does not undertake toupdate forward-looking statements to reflect circumstances orevents that occur after the date the forward-looking statements aremade. You should consider forward-looking statements, therefore, inlight of various important factors, including those set forth inthis press release. There are a number of factors, many of whichare beyond the Company's control, which could cause actual resultsand events to differ materially from those described in theforward-looking statements. These factors include pricing pressuresdue to competition, costs and availability of raw materials,availability of retail and wholesale financing for manufacturedhomes, availability and costs of labor, inventory levels ofretailers and manufacturers, levels of repossessed manufacturedhomes, the financial condition of our customers, interest rates,oil and gasoline prices, the outcome of litigation, volume oforders related to hurricane damage and operating margins on suchbusiness, and adverse weather conditions impacting retail sales. Inaddition, national and regional economic conditions and consumerconfidence may affect the retail sale of recreational vehicles andmanufactured homes. Patrick Industries, Inc.

Web site: http://www.patrickind.com/