Lisa Williams, Marketing Communications Manager
714.333.3220
lisa.williams@parexusa.com
FOR IMMEDIATE RELEASE:
ParexLahabra Acquires Teifs
Anaheim, CA — October 01, 2006 - ParexLahabra, Inc. is proud to announce the acquisition of the assets of TEXAS EIFS LC (Teifs) a San Antonio, Texas-based manufacturer of EIFS and stucco products.
Teifs started in 1995 with 28 contractors committed to making and using quality products above current industry standard. Investors were pooled, product formulas were created, code compliance reports were set up, and chemists were hired. From there, the company took off, growing successfully over 11 years, becoming one of the major manufacturers servicing a customer base throughout Texas and in 17 other states.
There were motivating factors on both sides. Teifs will benefit from being part of a larger corporation by sharing product expertise and technical support, utilizing the multiple manufacturing locations available to all of the ParexLahabra brands, and developing new opportunities and growth prospects for its employees.
The acquisition of the assets of Teifs is consistent with ParexLahabra's growth strategy, a mix of internal growth with new products, new services, expanded distribution channels, and external growth through the acquisition of solid, performing companies that are active in the industry. In past years, ParexLahabra has acquired key stucco manufacturers or brands such as La Habra Stucco in California, El Rey Stucco in New Mexico, Lonestar in Texas and Surewall in the southeast. Teifs will improve PareXLahabra presence in the Texas market while adding products, expertise, and a prime manufacturing location its current assets.
ParexLahabra has long recognized the need for a plant in Texas, one of the top three building markets and a key distribution location. The San Antonio plant will also be used to service all ParexLahabra customers in the Texas market The merger will increase the product offerings of the ParexLahabra brands with the addition of interior products such as paint and decorative finishes, as well as unique stucco products. Finally, thanks to the commitment of its employees, the quality of the products, and the service it has provided, Teifs has built up a strong and loyal customer base during its 11 years of business, and that will be a strong advantage for ParexLahabra.
ParexLahabra's immediate plans for Teifs are to continue to provide excellent products and services as well as promote teamwork between Teifs, LaHabra, Parex, El Rey, and Surewall brands. Like the other brands acquired by ParexLahabra, Teifs will maintain a strong presence in its existing market. The corporation will use its expertise to improve the Teifs product line, manufacturing, logistics, and services. Teifs' customers will continue to receive the quality service they expect from the same people they have worked with for years.
For additional information call Melissa Oaks at 800-358-4785.
About Parex USA
Parex USA is the US based parent company of leading building material brands; Parex, LaHabra, Teifs, El Rey Stucco, & Merkrete . The product lines of Parex USA are designed for the, new/retrofit, construction of commercial, institutional and residential buildings. The 2002, ISO 9001-2000 certification of Parex helped to substantiate Parex USA as a leader in the building materials industry with over 80 years of combined experience in the US construction industry. For more information regarding Parex USA visit www.ParexUSA.com.
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