FOR IMMEDIATE RELEASE
16 April 1998
Jersey City, New Jersey, USA: The Ideal Supply Co. announced today the acquisition of Shore Industrial & Plumbing Supply, Inc. located in Neptune, New Jersey. The new entity will be called 'Shore Industrial Supply Corp.' While negotiations began earlier, it was settled yesterday that the transfer of ownership would take place on 20 April 1998.
Donald A. Strittmatter, President of The Ideal Supply Co. confirmed that Ideal would take possession from the current owners, Kent Laufer, Robert Laufer and Joseph Dillon Sr. in an orderly transition. Shore Supply has been operating in Neptune since 1972.
Mr. Strittmatter stated he would start by preserving the core customers common to both Ideal and Shore and then progressively add new offerings of product lines.
Founded in 1930, The Ideal Supply Co. is a distributor of industrial pipe, valves,
fittings and accessories. For over sixty-five years, Ideal remains a leader in the New
York / New Jersey metropolitan region providing quality domestic materials to various
contracting, industrial and utility customers. Ideal views this opportunity to further
enhance the service and commitment to its valued customers.
For More Information Contact:
at The Ideal Supply Co.
Tracy Bates
Ideal Supply
445 Communipaw Avenue, Jersey City, NJ 07304 USA
Tel: 201.333.2600 / Toll Free: 888.433.2526
FAX: Sales: 201.333.7376 / Accounting 201.333.9248
E-mail
at Shore Industrial Supply Corp.
Ivan Altman
1916 Heck Avenue, Neptune, New Jersey 07753
Tel: 732.774.1200
FAX: 732.775.4280