Sterling Consolidated Common Shares Commence Trading Company Issues Letter to Shareholders
NEPTUNE, N.J., April 29, 2013 /PRNewswire/ -- Sterling Consolidated Corp. (OTCBB: STCC), a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, is pleased to announce shares of its common stock have commenced trading on the Over-The-Counter Bulletin Board market under the ticker symbol STCC.
Additionally, the company issued the following letter to shareholders:
Today is an exciting and important day for our company. After more than 40 years of providing superior service to our automotive and industrial customers, we are now a public company. Through this new public vehicle, we are perfectly positioned to build upon our history of organic growth and consistent profitability by pursuing an aggressive acquisition strategy that draws upon our industry expertise and logistical advantage.
The multi-billion dollar market for hydraulic and pneumatic seals is highly-fragmented and ripe for consolidation. Our acquisition strategy is opportunistic and focused on companies with generational changes of ownership where we can provide investment capital for growth or leverage our operation capabilities to drive value for all stakeholders. Our deep bench of talent, core knowledge and industry-leading expertise makes Sterling an excellent partner for aging or opportunistic business owners that are seeking an exit strategy or business combination that can enhance their return, accelerate future growth or drive greater profitability.
In the months ahead, we will be aggressively pursuing a number of acquisition targets which we have previously identified. Furthermore, we will be creating an acquisition advisory board to assist us with identifying, examining and vetting potential targets as well as ensuring that our due diligence is comprehensive and precise.
While strategic acquisition will be the means by which we accelerate growth for years to come, we remain steadfast in our commitment to organic growth and consistent profitability. The combination of strong performance in our existing business and careful, yet aggressive execution of our external growth strategy will enable us to maximize value for shareholders today and in the future.
On behalf of the entire Sterling Consolidated Corporation and our Board of Directors, I would like to offer a heartfelt "Thank You" to our loyal employees, customers and shareholders for their continued support.
Chief Executive Officer
Sterling Consolidated Corp.
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.
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.
SOURCE Sterling Consolidated Corp.