Denali news & news releases
January 12, 1999 Denali signs a new $75 million credit agreement. Houston Denali Incorporated (Nasdaq: DNLI) today announced that it
has established a new $75 million secured multi-year credit facility
with a syndication led by CIBC Oppenheimer and ING Barings. In
addition to refinancing the Company's existing bank debt, the
facility includes an acquisition line. "The new credit facility significantly enhances our acquisition
capabilities, as well as provides flexibility for our existing
operations," said Ed de Boer, president and chief operating officer.
"This is an important step in Denali's continued growth." Denali Incorporated is a provider of products and services for
handling critical fluids, which are liquids, liquid mixtures,
and slurries that are economically valuable or potentially hazardous
to the environment. The company is a manufacturer of fiberglass-composite,
underground storage tanks; steel, aboveground storage tanks; and
engineered, fiberglass-composite products for corrosion-resistant
applications. Denali Incorporated is headquartered in Houston,
Texas, and markets its products nationally through its subsidiaries
Containment Solutions, Inc. (Houston), Ershigs, Inc. (Bellingham,
WA), Fibercast (Tulsa, OK), SEFCO, Inc. (Tulsa, OK) and Plasti-Fab,
Inc. (Tualatin, OR). For more information on Denali Incorporated, please contact Mel
Carter, vice president of business development, at 713.627.0933,
or visit the Denali Incorporated Website at www.denaliincorporated.com. NOTE: This news release contains certain forward-looking statements
as such term is defined in the Private Securities Litigation Reform
Act of 1995 and information relating to the company and its subsidiaries
that are based on the beliefs of the company's management as well
as assumptions made by and information currently available to
the company management. When used in this report, the words, "anticipate",
"believe", "estimate", "expect", and "intend" and words or phrases
of similar import, as they relate to the company or its subsidiaries
or company management, are intended to identify forward-looking
statements. Such statements reflect the current risks, uncertainties
and assumptions related to certain factors including, without
limitations, competitive factors, general economic conditions,
customer relations, relationships with vendors, the interest rate
environment, governmental regulation and supervision, seasonality,
distribution networks, product introductions and acceptance, technological
change, changes in industry practices, onetime events and other
factors described herein. Based upon changing conditions, should
any one or more of these risks or uncertainties materialize, or
should any underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated,
believed, estimated, expected or intended.
Denali announces Belco acquisition. Houston - Denali Incorporated (Nasdaq: DNLI) today announced the signing
of a letter of intent to purchase the outstanding stock of the
Belco Manufacturing Companies ("Belco"). Located in Belton, Texas,
Belco is a manufacturer of engineered fiberglass-reinforced plastic
("FRP") tanks, vessels, and piping systems, and their products
are primarily sold to the water/wastewater and oil and gas industries
where corrosion-resistant products are needed. Belco’s calendar
year 1998 revenues are anticipated to be approximately $8.0 million,
and the acquisition is expected to close in January 1999. "Belco represents another strategic step for Denali," stated Edward
de Boer, president and chief operating officer of Denali Incorporated.
"Belco’s expertise in manufacturing piping systems and aboveground
FRP tanks allows Denali to be competitive in a wider array of
markets. Furthermore, Plasti-Fab, our most recent acquisition,
and Belco’s strength in the water and wastewater industry provide
us with a strong foundation for continued growth." Denali Incorporated is a provider of products and services for
handling critical fluids. The company is a manufacturer of fiberglass-composite,
underground storage tanks; steel, aboveground storage tanks; and
engineered, fiberglass-reinforced, plastic-composite products
for corrosion-resistant applications. Denali Incorporated is headquartered
in Houston, Texas, and markets its products nationally through
its subsidiaries Containment Solutions, Inc. (Houston), Ershigs,
Inc. (Bellingham, WA), Fibercast (Tulsa, OK), and SEFCO, Inc.
(Tulsa, OK). For more information on Denali Incorporated, please contact Mel
Carter (vice president of business development) at 713.627.0933.
Or visit the Denali Incorporated Website at www.denaliincorporated.com. NOTE: This news release contains certain forward-looking statements
as such term is defined in the Private Securities Litigation Reform
Act of 1995 and information relating to the company and its subsidiaries
that are based on the beliefs of the company’s management as well
as assumptions made by and information currently available to
the company management. When used in this report, the words, "anticipate,"
"believe," "estimate," "expect," and "intend" and words or phrases
of similar import, as they relate to the company or its subsidiaries
or company management, are intended to identify forward-looking
statements. Such statements reflect the current risks, uncertainties
and assumptions related to certain factors including, without
limitations, competitive factors, general economic conditions,
customer relations, relationships with vendors, the interest rate
environment, governmental regulation and supervision, seasonality,
distribution networks, product introductions and acceptance, technological
change, changes in industry practices, onetime events and other
factors described herein. Based upon changing conditions, should
any one or more of these risks or uncertainties materialize, or
should any underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated,
believed, estimated, expected or intended.
November 24, 1998 Denali announces management change. Houston - Denali Incorporated (Nasdaq: DNLI) today announced that, due
to a deterioration in his health due to cancer, Stephen T. Harcrow
will no longer be able to perform his duties as a member of the
executive committee, chairman of the board, and chief executive
officer of the company. The board of directors of the company
appointed an executive committee, comprised of Messrs. Harcrow,
J. Taft Symonds and Philip J. Burguieres, who also serve as directors
of the company, at the board meeting on October 21, 1998. Messrs.
Symonds and Burguieres will continue to perform the administrative
responsibilities of the executive committee and will assume many
of the responsibilities previously performed by Mr. Harcrow. Mr. Burguieres has served as chairman and chief executive officer
of Cameron Iron Works, Inc., Panhandle Eastern Corporation and
Weatherford International, Inc., and is currently chairman emeritus
of Weatherford International, Inc., and vice chairman of Cogen
Technologies, Inc. Mr. Symonds was a founding investor of Denali
Incorporated and serves as chairman of the board of Tetra Technologies,
Inc., and Maurice Pincoffs Company, Inc., and on the board of
Plains Resources, Inc. Both Mr. Symonds and Mr. Burguieres also
serve on numerous other business and civic boards. Denali Incorporated is a provider of products and services for
handling critical fluids. The company is a manufacturer of fiberglass-composite,
underground storage tanks; steel, aboveground storage tanks; and
engineered, fiberglass-reinforced, plastic-composite products
for corrosion-resistant applications. Denali Incorporated is headquartered
in Houston, Texas, and markets its products nationally through
its subsidiaries Containment Solutions, Inc. (Houston), Ershigs,
Inc. (Bellingham, WA), Fibercast (Tulsa, OK), and SEFCO, Inc.
(Tulsa, OK). For more information on Denali Incorporated, please contact Mel
Carter (vice president of business development) at 713.627.0933,
or visit the Denali Incorporated Website at denaliincorporated.com. NOTE: This news release contains certain forward-looking statements
as such term is defined in the Private Securities Litigation Reform
Act of 1995 and information relating to the company and its subsidiaries
that are based on the beliefs of the company’s management as well
as assumptions made by and information currently available to
the company management. When used in this report, the words, "anticipate,"
"believe," "estimate," "expect," and "intend" and words or phrases
of similar import, as they relate to the company or its subsidiaries
or company management, are intended to identify forward-looking
statements. Such statements reflect the current risks, uncertainties
and assumptions related to certain factors including, without
limitations, competitive factors, general economic conditions,
customer relations, relationships with vendors, the interest rate
environment, governmental regulation and supervision, seasonality,
distribution networks, product introductions and acceptance, technological
change, changes in industry practices, onetime events and other
factors described herein. Based upon changing conditions, should
any one or more of these risks or uncertainties materialize, or
should any underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated,
believed, estimated, expected or intended.
Denali completes purchase of Houston - Denali Incorporated (Nasdaq: DNLI) today announced it has completed
the acquisition of 100% of the outstanding stock of Plasti-Fab,
Inc. Located in Tualatin, Oregon, Plasti-Fab is a leader in providing
fiberglass-reinforced flumes and metering stations to the water
and wastewater industries. Trailing 12 months revenue was $4.5
million. “Plasti-Fab provides Denali a unique opportunity to both increase
the scope of our corrosion-resistant products as well as our presence
in the water and wastewater industries,” stated Ed de Boer, president
and chief operating officer of Denali Incorporated. “All of which
will create more opportunities to grow our business by capitalizing
on marketing strengths.” Denali Incorporated is a provider of products and services for
handling critical fluids. The company is a manufacturer of fiberglass-composite,
underground storage tanks; steel, aboveground storage tanks; and
engineered, fiberglass-reinforced, plastic-composite products
for corrosion-resistant applications. Denali Incorporated is headquartered
in Houston, Texas, and markets its products nationally through
its subsidiaries Containment Solutions, Inc. (Houston), Ershigs,
Inc. (Bellingham, WA), Fibercast (Tulsa, OK), and SEFCO, Inc.
(Tulsa, OK). For more information on Denali Incorporated, please contact Mel
Carter (vice president of business development) at 713.627.0933.
Or visit the Denali Incorporated Website at denaliincorporated.com. NOTE: This news release contains certain forward-looking statements
as such term is defined in the Private Securities Litigation Reform
Act of 1995 and information relating to the company and its subsidiaries
that are based on the beliefs of the company’s management as well
as assumptions made by and information currently available to
the company management. When used in this report, the words, “anticipate,”
“believe,” “estimate,” “expect,” and “intend” and words or phrases
of similar import, as they relate to the company or its subsidiaries
or company management, are intended to identify forward-looking
statements. Such statements reflect the current risks, uncertainties
and assumptions related to certain factors including, without
limitations, competitive factors, general economic conditions,
customer relations, relationships with vendors, the interest rate
environment, governmental regulation and supervision, seasonality,
distribution networks, product introductions and acceptance, technological
change, changes in industry practices, onetime events and other
factors described herein. Based upon changing conditions, should
any one or more of these risks or uncertainties materialize, or
should any underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated,
believed, estimated, expected or intended.
outstanding stock of Plasti-Fab, Inc.
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