Business Services Industry
Colonial Commercial Corp. Announces Changes in Distribution of Product Lines
Business Wire, Oct 14, 2008
HAWTHORNE, N.J. -- Colonial Commercial Corp. ("Colonial") (OTC Bulletin Board: "CCOM," "CCOMP"), today announced that it has been appointed by Johnson Controls, Inc. as a non-exclusive distributor at all of Colonial's locations for the Fraser Johnston line of commercial rooftop and HVAC units, "Source 1" HVAC service parts, and commercial HVAC control systems. Colonial will no longer distribute American Standard HVAC products.
Colonial also announced that it is closing its Hicksville, Long Island sales offices.
William Pagano, Chief Executive Officer of Colonial, stated "The new agreements with Johnson Controls, Inc. enable us to standardize with a single high-quality commercial HVAC line at all our locations. The addition of Johnson Controls direct digital commercial control systems enables us to sell complete commercial control systems along with appropriate commercial HVAC products. We will also market Source 1 HVAC replacement parts at all our locations to expand our replacement parts business for both commercial and residential HVAC equipment. These are new opportunities which should meaningfully benefit our business during these challenging times."
About Colonial Commercial Corp.
Colonial distributes heating, ventilating and air conditioning, ("HVAC"), equipment, parts and accessories, climate control systems, and plumbing and electrical supplies and equipment in the states of New York, New Jersey, Massachusetts, Connecticut and eastern Pennsylvania through its Universal Supply Group, Inc., www.usginc.com, American/Universal Supply Div., www.ausupplyinc.com, The RAL Supply Group, Inc., www.ralsupply.com, and S&A Supply, Inc., www.sasupplyinc.com, subsidiaries to professional contractors. These contractors purchase and install equipment and systems for residential, commercial and industrial users. Colonial also provides control system design, custom control panel fabrication, technical field support, in-house training and climate control consultation for engineers and installers. The Company is a leader in the design of direct digital control systems and systems that control multi-location facilities through the Internet. The Company also distributes home appliances to dealer groups and appliance stores through its Goldman Universal division, and water filtration systems, parts and accessories and other products through its e-commerce store, www.procontractorstore.com, operated by RAL. The Company is headquartered in New Jersey, and, with its affiliates, operates out of 20 locations in its geographic trading area. For more information on Colonial's operations, products and/or services, please visit www.colonialcomm.com.
Safe Harbor Statement
The foregoing press release may contain statements concerning Colonial Commercial Corp.'s financial performance, markets and business operations that may be considered "forward-looking" under applicable securities laws. Colonial cautions readers of this press release that actual results might differ materially from those projected in any forward-looking statements. Factors which might cause actual results to differ materially from any results that are projected in the forward-looking statements include the following: continued acceptance of the company's products in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the company's periodic report filings with the Securities and Exchange Commission. These and certain other factors which might cause actual results to differ materially from those projected are detailed from time to time in Colonial's periodic reports and registration statements filed with the Securities and Exchange Commission, which important factors are incorporated herein by reference. Colonial undertakes no obligation to update forward looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time.
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