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FOR IMMEDIATE RELEASE
ST. LOUIS , MISSOURI
August 9, 2005
Angelica Announces Acquisition in Northern Ohio
ST. LOUIS, Missouri (August 9, 2005) — Angelica Corporation (NYSE:AGL), today
announced that it has acquired customer contracts and selected assets located in
the Cleveland, Ohio and upstate New York areas. These contracts represent
approximately $3.1 million in annual revenues and were primarily serviced by Bob
White Services, Inc. The new customers will be served by Angelica's existing
operations in Lorain , Ohio and Batavia , New York . Terms of the transaction
were not disclosed.
Commenting on the transaction, Steve O'Hara, Angelica's CEO said, “These
tuck-in acquisitions strengthen Angelica's presence and increase our market
share in the Northern Ohio and upstate New York regions, as well as improve our
capacity utilization in our Lorain and Batavia facilities. We look forward to
serving these new customers for a long time.” He added, “We will continue to
seek additional opportunities that can expand and solidify our existing market
presence or open adjacent new markets.“
Angelica Corporation, traded on the New York Stock Exchange under the symbol
AGL, is a leading provider of textile rental and linen management services to
the U.S. healthcare market. More information about Angelica is available on its
website, www.angelica.com
Forward-Looking Statements
Any forward-looking statements made in this document reflect the
Company's current views with respect to future events and financial performance
and are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such statements are subject to certain risks and
uncertainties that may cause actual results to differ materially from those set
forth in these statements. These potential risks and uncertainties include, but
are not limited to, competitive and general economic conditions, the ability to
retain current customers and to add new customers in competitive market
environments, competitive pricing in the marketplace, delays in the shipment of
orders, ability to mitigate work disruptions at our plants arising from a
union's corporate campaign against the Company, availability of labor at
appropriate rates, availability and cost of energy an water supplies, the cost
of workers' compensation and healthcare benefits, the ability to attract and
retain key personnel, the ability of the Company to recover its seller note and
avoid future lease obligations as part of its sale of Life Uniform, the ability
of the Company to accomplish its strategy of redirecting its resources to its
healthcare linen management business in a timely and financially advantageous
manner, unusual or unexpected cash needs for operations or capital transactions,
the effectiveness of certain expense reduction initiatives, the ability to
obtain financing in required amounts and at appropriate rates and terms, the
ability to identify, negotiate, fund, consummate and integrate acquisitions, and
other factors which may be identified in the Company's filings with the
Securities and Exchange Commission.
For additional information contact:
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JIM SHAFFER
CHIEF FINANCIAL OFFICER or
COLLEEN HEGARTY
DIRECTOR OF INVESTOR RELATIONS
ANGELICA CORPORATION
(314) 854-3800
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