POORE BROTHERS' GOODYEAR, ARIZONA
MANUFACTURING PLANT SUSTAINS FIRE DAMAGE
Goodyear, Arizona, October 30, 2000 -- Poore Brothers, Inc. (Nasdaq: SNAK)
today announced that a fire in its Goodyear, Arizona manufacturing facility
occurred over the weekend. As a result of the fire, production at the facility
has been temporarily shut down. The fire caused damage to the roof and equipment
utilities over the potato chip processing area of the building. While there was
no significant damage to equipment or to the other areas of the building, Poore
Brothers is still in the process of determining the full extent of the damage
and when production may resume at the facility. Fortunately, only one employee
suffered minor injuries as a result of the fire.
The Company is taking aggressive action to meet the needs of its customers
by seeking to identify alternative short-term production sources and making
every effort to resume production at the facility as soon as possible. While the
fire loss may have a potentially significant adverse impact on fourth quarter
results, the Company believes that its property and business interruption
insurance and the aggressive actions that the Company is taking will potentially
mitigate any such adverse impact.
Production of the Company's other product lines, including the recently
announced T.G.I. Friday's(TM) brand snack chips, as well as Tato Skins(R) brand
potato snacks and Pizzarias(R) brand pizza chips will not be impacted by the
fire since they are manufactured at the Company's Bluffton, Indiana facility.
Eric J. Kufel, President and Chief Executive Officer, said, "I want to
personally thank the large number of people and businesses who have reached out
and lent tremendous support to the Company during a difficult time. While we are
first and foremost thankful that no one was seriously hurt, we sincerely
appreciate the community's genuine support. We are doing everything possible to
keep our "intensely different" potato chips on store shelves during this
temporary shutdown."
Poore Brothers is a rapidly growing manufacturer, marketer and distributor
of "intensely different" salted snacks based in Goodyear, Arizona with
manufacturing facilities in Goodyear, Arizona and Bluffton, Indiana. The
Company's primary emphasis is manufacturing "intensely different" salted snack
food items including T.G.I. Friday's(TM) brand snack chips, Poore Brothers(R)
brand potato chips, Bob's Texas Style(R) brand potato chips, Boulder Potato
Company(TM) brand potato chips, Tato Skins(R) brand potato snacks, and
Pizzarias(R) brand pizza chips. The Company also manufactures private label
potato chips for major retailers in Arizona and California and operates a direct
store delivery distribution business in Arizona and a snack food merchandising
company in Texas.
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For further information about Poore Brothers or this release, please
contact Thomas W. Freeze, Senior Vice President and Chief Financial Officer, at
(623) 932-6200, or logon to http://www.poorebrothers.com.
Statements contained in this press release that are not historical facts
are "forward looking" statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Because such statements include risks
and uncertainties, actual results may differ materially from those expressed or
implied by such forward-looking statements. Factors that may cause actual
results to differ from the forward-looking statements contained in this press
release and that may affect the Company's prospects in general include, but are
not limited to, the potential need for additional financing, acquisition-related
risks, significant competition, customer acceptance of new products, dependence
upon major customers, general risks related to the food products industry, and
such other factors as are described in the Company's filings with the Securities
and Exchange Commission.
