Headwaters Incorporated Announces Acquisition of Fly Ash Marketer Business Wire SOUTH JORDAN, Utah -- February 19, 2014 HEADWATERS INCORPORATED (NYSE: HW), a building products company dedicated to improving lives through innovative advancements in construction materials, today announced the acquisition of a small fly ash marketing firm. We recently closed the acquisition of a small fly ash marketer located in Pennsylvania. The Northeast has a number of smaller, older coal fired power plants that do not produce high quality fly ash. Consequently, we are interested in increasing our supply of high quality fly ash produced from facilities that are newer, larger, and fully equipped with modern air quality control equipment. “We were fortunate to be able to close on the acquisition of a marketer that distributes one of the best supplies of high quality fly ash in the Northeast,” said Bill Gehrmann, President of Headwaters Resources. “We will be able to immediately increase the beneficial use of the ash through our broad based customer network.” The acquisition will increase our high quality fly ash supply, improving our competitive position in the region, as well as providing additional sources of bottom ash. We expect incremental fly ash sales of more than 150,000 tons from sales primarily in the Pennsylvania and New York markets. The asset acquisition was paid for in cash and the transaction will be accretive to earnings in 2014. “The positive news that we have received over the last month from the EPA supports our strategy to extend our supply sources, using fly ash as a substitute for portland cement,” said Kirk A. Benson, Chief Executive Officer of Headwaters Incorporated. “The EPA’s strong endorsement for fly ash in concrete will help us increase the use of ash in a broad range of concrete applications, and this acquisition will improve our positioning in the Northeast.” About Headwaters Incorporated Headwaters Incorporated is improving lives through innovative advancements in construction materials through application, design, and purpose. Headwaters is a diversified growth company providing products, technologies and services to the heavy construction materials, light building products, and energy technology industries. Through its coal combustion products, building products, and energy businesses, the Company has been able to improve sustainability by transforming underutilized resources into valuable products. www.headwaters.com Forward-Looking Statements Certain statements contained in this press release are forward-looking statements within the meaning of federal securities laws and Headwaters intends that such forward-looking statements be subject to the safe-harbor created thereby. Forward-looking statements include Headwaters’ expectations as to the managing and marketing of coal combustion products, the production and marketing of building products, the licensing of residue hydrocracking technology and catalyst sales to oil refineries, the development, commercialization, and financing of new technologies and other strategic business opportunities and acquisitions, and other information about Headwaters. Such statements that are not purely historical by nature, including those statements regarding Headwaters’ future business plans, the operation of facilities, the availability of feedstocks, and the marketability of the coal combustion products, building products and catalysts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future events and our future results that are based on current expectations, estimates, forecasts, and projections about the industries in which we operate and the beliefs and assumptions of our management. Actual results may vary materially from such expectations. Words such as “may,” “should,” “intends,” “plans,” “expects,” “anticipates,” “targets,” “goals,” “projects,” “believes,” “seeks,” “estimates,” “forecasts,” or variations of such words and similar expressions, or the negative of such terms, may help identify such forward-looking statements. Any statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances, are forward-looking. In addition to matters affecting the coal combustion products, building products, and energy industries or the economy generally, factors that could cause actual results to differ from expectations stated in forward-looking statements include, among others, the factors described in the caption entitled “Risk Factors” in Item 1A in Headwaters’ Annual Report on Form 10-K for the fiscal year ended September 30, 2013, Quarterly Reports on Form 10-Q, and other periodic filings. Although Headwaters believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that our results of operations will not be adversely affected by such factors. Unless legally required, we undertake no obligation to revise or update any forward-looking statements for any reason. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Our internet address is www.headwaters.com. There we make available, free of charge, our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and any amendments to those reports, as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. Our reports can be accessed through the investor relations section of our web site. Contact: Headwaters Incorporated Sharon Madden, 801-984-9400 Vice President of Investor Relations or Analyst Contact: Financial Profiles Tricia Ross, 310-622-8226
Headwaters Incorporated Announces Acquisition of Fly Ash Marketer
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