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Frank Crivello, EVP, Phoenix Investors, LLC Announces Purchase of Indiana mill by Heritage Structures, Inc.
Heritage Structures, Inc. acquired Indiana Mill formerly operated by Tru-Built Lumber, Inc. to manufacture and sell pre-fabricated garages to customers in Midwestern States.
Milwaukee, Wisconsin --September
10, 2004--
Frank Crivello, Executive Vice President,
Phoenix Investors, LLC ("PI")
announced today that Heritage Structures, Inc.
("Heritage"), www.heritagegarages.com,
acquired the plant, equipment, improvements, and
land assets formerly owned and operated by Tru-Built
Lumber, Inc., ("Tru-Built")
Williamsport, Indiana. Crivello Group, LLC, www.crivello.com,
agreed to provide financing to Heritage in its
purchase from Tru-Built. Before Tru-Built
entered bankruptcy and ceased operations, it
manufactured prefabricated garages and sold them
through a dealer network to homeowners
throughout the Midwest.
Crivello Group's Managing Member Frank P.
Crivello stated: "This acquisition
represents solid value for us and Heritage.
Heritage's President Joseph A. Crivello stated:
"We will perform maintenance and
enhancements to the facility. It should be ready
for production within sixty days."
Heritage's Executive Vice President Jerry
Bullock stated: "We are excited to commence
production at this mill. Over time, we will
assemble a solid work force. We have received
encouraging feedback from the Indiana Department
of Commerce, www.in.gov/doc.
concerning Heritage. We are exploring options
with the Indiana Department of Commerce for
training employees and expanding
production."
About NNN Group, Inc., www.nnn.net:
NNN provides PI with real estate management
and advisory services.
About Phoenix Investors, LLC, www.phoenixinv.com:
Since 1994 PI has been offering professional
management and advisory solutions to public and
private companies, trusts, and individual
investors. Our management endeavors to
understand our clients' individual needs, work
with our client to assess specific goals, and
structure investments according to our clients'
specific risk/reward profile to meet both the
clients' short term and long term needs. Our
real estate management team professionally
manages our portfolio properties through a
combination of local and national representation
in order to effectively create a
"working-bridge" between owner and
tenant, building a cooperative mutually
beneficial working relationship. Our experts
assess and refine our client's portfolio's to
maximize our clients cash flow, equity
accumulation, and internal rate of return based
upon our clients' specific dynamic goals.
Safe Harbor Statement Under the Private
Securities Litigation Act of 1995 - With the
exception of historical information, the matters
discussed in this press release are
forward-looking statements that involve a number
of risks and uncertainties. The actual future
results of the PI could differ significantly
from those statements. Factors that could cause
or contribute to such differences include, but
are not limited to assumptions relating to the
marine market and that there will be no
unanticipated material adverse change in PI's
operations or business.
Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com
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©
2004 Phoenix Investors, LLC