Sterling Consolidated Letter From the Chairman
02 Maggio 2014 - 2:08PM
Sterling Consolidated Corp. (OTCBB:STCC) (the
"Company"), a leading supplier of hydraulic and pneumatic seals to
the automotive and industrial marketplace, wanted to thank its
shareholders for the support they have provided to the Company as
well as to review the last year of activity.
The Company continues to execute its expansion plan to take
advantage of the fragmentation of the o-ring industry throughout
the United States by acquiring other companies in the marketplace.
Since going public last year, the Company has completed the
acquisition of RG Sales, Inc. in Western Pennsylvania and Superior
Seals, Inc. in North Carolina. These acquisitions have added nearly
$1 million to its projected top-line revenue and have expanded its
1-day delivery capability to now include the entire eastern
seaboard.
The Company continues to negotiate with additional acquisition
targets and currently has issued a term sheet to a northeastern
o-ring distributor. Additionally, the Company is in preliminary
talks with 3 other potential targets and plans to aggressively
pursue other opportunities.
As one of the few public companies in the industry, Sterling is
uniquely positioned to be the leader in consolidating the large
number of smaller o-ring distributors throughout the country. The
Company's stock has become a currency that it is using to
self-finance these acquisitions. Additionally, the Company will
continue to raise expansion capital through sale of stock utilizing
its SEC-approved Equity Credit Facility.
Since going public, the Company has achieved the following
milestones:
- Refinanced bank debt with a $1.25 million line of credit and
$1.2 million mortgage
- Increased employees from 19 to 28
- Increased actual sales by 5.7% from 2012 to 2013
- Added two sales and inventory locations
- Expanded our production capabilities
- Nearly doubled the rent roll for our real estate
properties
We look forward to continued growth. Thank you again for your
support.
Sincerely,
Angelo DeRosa
Chairman of the Board
About Sterling Consolidated Corp.
Sterling Consolidated Corp., through its wholly-owned
subsidiary, Sterling Seal and Supply, has been a leading supplier
of hydraulic and pneumatic seals to the automotive and industrial
marketplace for more than 40 years. Through a combination of
leveraging its logistical expertise and sophisticated, experienced
management, the company intends to be an active and strategic
consolidator of small- and mid-sized businesses within the
highly-fragmented, multi-billion dollar seal industry. Currently
serving more than 3,000 customers, Sterling offers acquisition
targets a unique growth opportunity and competitive advantage
through logistical expertise, strong regional branding and
industry-specific distribution centers.
Forward-looking Statements
This release contains statements that constitute forward-looking
statements. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the Company, its directors or its officers with
respect to, among other things: (i) the Company's financing plans;
(ii) trends affecting the Company's financial condition or results
of operations; (iii) the Company's growth strategy and operating
strategy; and (iv) the declaration and payment of dividends. The
words "may," "would," "will," "expect," "estimate," "anticipate,"
"believe," "intend," and similar expressions and variations thereof
are intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors.
CONTACT: Scott Chichester
Sterling Consolidated Corp
Phone: 646-388-2495
Email: schichester@sterlingconsolidated.com
Grafico Azioni Sterling Consolidated (CE) (USOTC:STCC)
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Da Gen 2025 a Feb 2025
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