BELIZE CITY, Belize, Jan. 25 /PRNewswire/ -- BHI Corporation
(Nasdaq: BHIKF), a leader in outsourced facilities services in North America,
announced today that its ISS division has been renamed One Source. The name
change is effective immediately. The terms of BHI's acquisition of the
facilities services business in early 1998 specified that the ISS name would
no longer be used in North America after mid-1999.
BHI Chairman and Chief Executive Officer, Michael A. Ashcroft, said: "BHI
has made substantial progress in the facilities services division in the last
nine months, including 11 acquisitions that have been successfully integrated,
adding $58 million in revenue; introducing technology to the business with the
launch of a call center in Florida; and improving margins. The name change to
One Source reflects our intention to offer a full range of facilities services
-- one single solution -- to customers in North America."
Mr. Ashcroft added, "Recent acquisitions of a landscaping company and a
specialist metal and marble refinishing service provider demonstrate our
ongoing expansion into services that can be cross marketed to our existing
base of more than 10,000 customers."
Commenting on the name change, BHI's Chief Operating Officer and President
of One Source, Ray Gross, said, "The transition to One Source branding for all
services is underway and we believe the name reflects our commitment to
provide high quality and comprehensive services that exceed customer
expectations. As more building managers turn to outsourcing, our strategy is
to be the One Source for facilities services solutions."
BHI Corporation is a leader in the outsourced facilities services sector
in North America and provides janitorial, landscaping, security services,
general repair and maintenance and other specialized services to more than
10,000 commercial, institutional and industrial accounts. The company also
owns and operates selected businesses in Central America. BHI prepares its
financial statements in US dollars and according to US GAAP.
Forward-Looking Statement
Certain statements in this press release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. In particular, statements contained herein regarding expectations
with respect to future revenue and business expansion, are subject to known
and unknown risks, uncertainties and contingencies, many of which are beyond
the control of BHI, which may cause actual results, performance or
achievements to differ materially from anticipated results, including, among
others, overall economic and business conditions, the demand for BHI's
services, competitive factors, regulatory approvals and the uncertainty of
consummation of future acquisitions. Additional factors which may affect
BHI's business and performance are set forth in BHI's filings with the
Securities and Exchange Commission.
Note: This and other press releases are available through Company News On
Call by fax; call 800-758-5804, extension 114380, or at
http://www.prnewswire.com.
SOURCE BHI Corporation
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CONTACT: Angela Entwistle of BHI, 561-368-3899; or Eileen M. Halsch of Broadgate Consultants, Inc., 212-232-2222, for BHI
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