-- Acquisition to strengthen and broaden EMCOR’s National Fire Protection Business --
Founded in 1940, Comunale employs approximately 800 technical and field personnel through its three main branches in Columbus, OH, and Philadelphia and Reading, PA as well as nine other branch offices in Ohio, Pennsylvania, New Jersey, Michigan and West Virginia. Comunale provides a full array of fire protection and mechanical services including design, installation and maintenance services for fire protection, alarm detection and special hazard systems as well as mechanical construction services for HVAC, plumbing, process piping and design build applications. Comunale’s 2006 revenues are expected to be approximately $150 million.
Commenting on the announcement, Frank T. MacInnis, Chairman and Chief Executive Officer of EMCOR stated, “We are pleased that Comunale, one of the nation’s leading fire protection and mechanical services providers, will join EMCOR. With leading positions in the commercial, healthcare, government and higher education markets, Comunale has a long-standing reputation as a premier construction and services company.” Their skilled and experienced management and technical staff have developed a full-service culture that provides tailored solutions for individual customers.”
Mr. MacInnis continued, “One of EMCOR’s strengths is our ability to provide full ‘Life Safety Solutions’ to create and support secure environments -- from the most complex to the simplest systems, from extensive networks to single sites -- to protect two of the most important components of any business: people and physical assets. Comunale, with its recognized position as one of the nation’s leading fire protection companies supports this strategy.”
Stephen A. Comunale, President and Chief Executive Officer of Comunale, said, “We are delighted to join the team at EMCOR, the industry leader. We feel that by leveraging EMCOR’s strong brand recognition, Comunale can achieve an increased level of customer penetration. We are excited about our future as part of EMCOR.”
“Fire protection has a national footprint and with the addition of Comunale, EMCOR becomes one of the nation’s largest providers of fabrication, installation, repair and inspection of fire protection systems,” stated Tony Guzzi, EMCOR’s President and Chief Operating Officer. “Additionally, we see substantial opportunities to leverage and grow Comunale’s services to national customers through our facilities services platform and marketing and branding programs.”
EMCOR Group, Inc. is a Fortune 500® worldwide leader in mechanical and electrical construction services, energy infrastructure and facilities services.
This release may contain certain forward-looking statements within the meaning of the Private Securities Reform Act of 1995. Any such comments are based upon information available to EMCOR management’s perception thereof, as of this date, and EMCOR assumes no obligation to update any such forward-looking statements. These forward-looking statements may include statements regarding market opportunities, market share growth, gross profit, project mix, projects with varying profit margins, and selling, general and administrative expenses. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Accordingly these statements are no guarantee of future performance. Such risk and uncertainties include, but are not limited to, adverse effects of general economic conditions, changes in the political environment, changes in the specific markets for EMCOR’s services, adverse business conditions, availability of adequate levels of surety bonding, increased competition, unfavorable labor productivity, mix of business, and risks associated with foreign operations. Certain of the risks and factors associated with EMCOR’s business are also discussed in the Company’s 2005 Form 10-K, its Form 10-Q for the second quarter ended June 30, 2006, and in other reports filed from time to time with the Securities and Exchange Commission. All these risks and factors should be taken into account in evaluating any forward-looking statements.
Contacts:
R. Kevin Matz
Senior VP, Shared Services
(203) 849-7938
Financial Dynamics
Investors: Eric Boyriven
(212) 850-5600
Linden Alschuler & Kaplan, Inc.
Media: Josh Epstein
(212) 575-4545
