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"The acquisition ft. wayne replacement windows of thermo-shield provides us with a strong market presence in the important chicago metropolitan area and enhances our market position in the midwest and in the rapidly-growing arizona market," commented steve hoffmann, chairman and chief executive wayne officer of thermoview industries, inc. "in addition, thermo-shield has developed strategic marketing relationships with a number of home center retail chains and mass merchandisers, including sam''s club (a division replacement of wal-mart) and lowe''s. the programs, which were developed windows and ft. wayne replacement windows in conjunction with such retailers, create additional revenue for thermo-shield and provide valuable services wayne for the retailers'' customers. this represents an important new marketing channel which thermoview and thermo-shield hope to roll out in other parts of the united states in the future." "we are excited to join the thermoview family replacement of companies," stated joel windows kron, president and chief executive officer of thermo-shield company, inc. "we believe that thermoview''s operating philosophy and strategic objectives are consistent with key trends which will determine the future of the replacement window industry. the combination of our companies should benefit thermoview''s shareholders and the customers of both organizations."thermoview ft. wayne replacement windows industries, inc. has wayne acquired or merged with 14 companies since it became replacement a publicly-traded windows company in april 1998. with the addition of thermo-shield''s approximately $20 million in yearly sales, our ft. company''s annualized revenue ''run rate'' now exceeds $120 million. wayne "we are pleased to have exceeded our revenue objectives during thermoview''s first twelve months as a public company, and our goals anticipate that annualized revenues should reach or replacement exceed $250 million by the end of 1999," concluded windows hoffmann. thermo-shield, which was founded in 1984, is headquartered in wheeling, illinois and ft. has additional operations wayne in indiana, wisconsin, michigan and arizona. the company and its approximately 250 employees distribute, install and service custom vinyl replacement windows, along with cabinet refacing and vinyl siding products, for the existing home market in the midwest and southwest regions of the united states. the acquisition of thermo-shield replacement and windows includes an ownership interest in thermo-rose, a manufacturer of state-of-the-art cabinet products. thermo-shield''s revenues last year approximated $17 million and are expected to exceed $20 million in 1999.
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