News out today and hurricane season is fast approaching. Could be a good play from this level.
Print E-mail RSS Disable Live Quotes
CHICAGO, Apr 01, 2008 (BUSINESS WIRE) -- National Storm Management, Inc. (Other OTC:NSMG) announced today that it has opened a new office in Alpharetta, Georgia, a suburb of Atlanta, to capitalize on recent storm activity in the area. As a result of recent tornadoes and hail damage, metropolitan Atlanta sustained approximately $250 million in damage. To support the cleanup effort, the Company plans to mobilize operations through this new office, as part of its national expansion strategy. National Storm expects to open two new branch offices annually to capitalize on opportunities created by storm activity. The Company currently has offices, through its affiliates, in Illinois, Indiana, Kentucky, Florida and Ohio.
"We have spent the past two years stabilizing the business and restructuring operations, which should lead to improving our financial condition," said Terry Kiefer, president and CEO of National Storm Management. "We now believe we are well positioned for growth. Already, we have seen significant interest in our first-responder services in the Atlanta area, which is why we felt it appropriate to open an office in the area. We believe the opportunity is quite significant in the area. Two years ago, there was a hail storm in Indianapolis. It was estimated that the damage was approximately half of the level of the Atlanta storm. The Company generated in excess of $4 million in revenue from the event. Through the opening of this new office, we believe National Storm is well positioned for similar success. We expect to open an additional office this year to respond to future storm activity. While the last two years have seen few major storms, we have prepared the Company to respond quickly to events and to eventually diversify our operations so we are not completely dependent on storm activity to support growth."
About National Storm Management, Inc.
National Storm Management is a national construction company headquartered in Glen Ellyn, Illinois providing storm restoration services in seven states. Its operating affiliates include: ABC Exteriors (Illinois, Indiana and Kentucky); Pinnacle Roofing (Florida and Louisiana); WRS, Inc. (Minnesota); and First Class Roofing and Siding (Ohio). The company and its affiliates are recognized by all major insurance companies such as State Farm, Allstate, Farmers and others for storm related claims. The company is a member of the National Roofing Contractors Association (NRCA) and the Better Business Bureau. More information is available at www.nationalstorm.com