POORE BROTHERS FIRE DAMAGE UPDATE
November 6, 2000 - Poore Brothers, Inc. (Nasdaq: SNAK) today provided an
update regarding the previously announced damage sustained at its Goodyear,
Arizona production facility as a result of a fire on October 28, 2000 and its
efforts to restore operations.
The Company announced that it believes it can continue to meet nearly all
customer needs during the temporary production shutdown. Third party
manufacturers have agreed to provide the Company with production volume that the
Company believes will be sufficient to satisfy nearly all of its anticipated
customers' needs. Beginning immediately at its Goodyear, Arizona facility, the
Company will season and package the bulk product received from third party
manufacturers. The Company has developed plans to source product from third
party manufacturers until such time as production resumes at the facility, which
the Company estimates will be during the first quarter of 2001.
The Company also confirmed that its Goodyear, Arizona plant sustained
extensive fire damage to the processing area roof and equipment utilities. Based
on a preliminary assessment of the damage, the Company believes that there was
no major damage to processing equipment, or any other area of the plant,
including packaging, warehouse and offices areas.
Mr. Eric J. Kufel, President and CEO, stated, "We extend our most sincere
appreciation and gratitude to the Goodyear Fire Department and other
Phoenix-area fire departments who went beyond the call of duty to save our
production facility. We would also like to thank the community and the snack
food industry for their tremendous support and assistance."
"While this event was extremely unfortunate, our ability to source product
and to restore non-processing operations quickly through a tremendous team
effort, combined with the overwhelming support received from consumers, has only
strengthened our commitment and resolve to achieve our "Intensely Different"
growth objectives," concluded Mr. Kufel.
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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) 932-6203, 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.
