New Enterprise Stone & Lime Co., Inc. Acquires Stabler Companies Inc.


NEW ENTERPRISE, Pa., Jan. 14 -- New Enterprise Stone & Lime Co., Inc. announced today it has acquired Stabler Companies Inc., a producer of construction materials and highway contractor in Pennsylvania and supplier of construction related safety services throughout the United States.

"The acquisition of Stabler enables us to diversify our offerings of products, services and materials," said Donald L. Detwiler, president and CEO of New Enterprise. "Employees and clients will see few changes in Stabler's operations."

Stabler, based in Harrisburg, PA and founded 67 years ago, has approximately 1,200 employees. There are no plans for workforce reductions as a result of the acquisition. The acquisition price was not disclosed.

Chief Executive Officer Cyril Dunmire, President Paul Shannon and Executive Vice President Robert McCann have announced their retirement from Stabler after many years of service. James Van Buren has been named President of Stabler and will also continue in his role as Vice President of Development and Chief Operating Officer of New Enterprise.

Stabler, a privately held firm, operates 16 aggregate and sand quarries in the eastern part of Pennsylvania. With its subsidiaries, it is a vertically integrated construction materials supplier, highway contractor, and highway construction safety service and equipment provider. Stabler produces work- zone traffic control equipment such as solar message boards, crash attenuators, signs, barricades and traffic cones.

Stabler's subsidiaries are Eastern Industries Inc., Protections Services Inc., Work Area Protection Corp., Stabler Development Company, SCI Products, Inc., Precision Solar Controls Inc., ASTI Transportation Systems Inc., EII Transport Inc. and Elco-Hausman Construction Corp.

New Enterprise Stone & Lime Co., Inc., also privately held, is a vertically integrated construction materials supplier and highway contractor headquartered in New Enterprise, PA. New Enterprise employs about 2,500 people.

New Enterprise mines aggregates from its quarries, produces ready mixed concrete, pre-stressed/pre-cast concrete, concrete block and hot mix asphalt, which are used in many of its construction projects.

Source: New Enterprise Stone & Lime Co., Inc.

CONTACT:
Julie Sheldon
of New Enterprise Stone & Lime Co., Inc.,
+1-717-635-2344

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