Company Posts Record Sales Month
Denman & Davis Expands Product Lines and Equipment to Meet Increased Sales Growth

CLIFTON, N.J., June 14, 1999 — Denman & Davis announced today that the company has added new equipment and expanded its stainless line. The move is in direct response to recent significant sales volume increases, in particular, heavy demand for stainless. The Clifton, N.J., headquartered steel service center completed its best sales month ever in the company's 111-year history, despite a generally soft industry market.

To accommodate increased demand, the company has added an additional 7-1/2 ton crane in its stainless bay. According to Denman & Davis President and CEO, David N. Deinzer, the crane will improve operating efficiencies by getting material in and out of the bay faster as customer demand has increased.

Denman & Davis has also expanded its stainless steel inventory, adding Type 316 stainless rounds up to 12-1/2". In 1998 the company also added stainless steel floor plate in 60-inch widths to its inventory.

"Both of these new products come in response to our customers' demand for stainless products," said Deinzer. "We are adding to our stainless inventory to round out our traditional carbon line; we now offer a full package of materials and value-added services to OEMs. Now," he continued, "as a result, we inventory almost 100% of the metals that OEMs consume."

Deinzer credits the aggressiveness and customer dedication of the company's sales force for Denman & Davis' growth in a difficult market.

Denman & Davis is an ISO 9002 certified multi-location steel service center, supplying steel and other metal products to original equipment manufacturers, metalworking job shops, fabricators and maintenance and repair departments. The company is headquartered in Clifton, N.J.