DALLAS, May 24 /PRNewswire-FirstCall/ - ElkCorp, (NYSE:ELK), announced today that in response to increased demand and overall growth opportunities for its composite lumber platform, ElkCorp's board of directors has approved an investment of $22 million to enable Elk Composites to expand the capabilities of its current composite lumber facility as well as construct a second production facility. The second facility will be located near the current facility in Lenexa, Kansas and development of this facility is expected to begin immediately with the additional capacity realized in December 2004.
"The increased capacity made possible through the addition of a second production facility will enable us to keep pace with the increasing demand for our current composite lumber products and the ability to grow as we broaden our product offerings," said Thomas Karol, chairman and chief executive officer of ElkCorp. "We believe there are tremendous growth opportunities in the market and are confident in our competitive position in the industry."
Mr. Karol continued, "We are focused on being the supplier of choice across all of our product lines and view this expansion as validation of our commitment to providing our customers the most innovative, highest quality products in the market."
About ElkCorp
ElkCorp, through its subsidiaries, manufactures Elk brand premium roofing and building products (over 90% of consolidated sales) and provides technologically advanced products and services to other industries. Each of ElkCorp's principal operating subsidiaries is a leader within its particular market. Its common stock is listed on the New York Stock Exchange (ticker symbol: ELK). See www.elkcorp.com for more information.