Global Realty Acquiring Houston's Excalibur

Excalibur Holdings president/chairman/CEO William "Bill" Stuart says in the same statement his company welcomes the deal because it will allow the firm to tap public markets to fund future acquisitions.

Global Realty is traded on the Over-the-Counter Bulletin Board. Excalibur is privately held. Global closed March 26 at 29 cents a share, up four cents from 25 cents on March 25. Trading volume was 16,500 shares.

Excalibur Holdings has three operating subsidiaries: Excalibur AeroSpace, doing business as Aero Weld; Excalibur Steel, which builds high-volume structural steel and piping components for power generation plants; and Excalibur Services, a fabrication and manufacturing firm.

Among the three companies' national clients are Berkshire Hathaway's Flight Safety Corp.; AMR Corp.'s American Airlines; Singapore Airlines; the FBI in Washington, DC; Koch Industries; Woolslayer; Tower Systems; Tek Fin and Total Energy Resources.

After the merger, Excalibur Holdings Inc. will be a wholly owned subsidiary of Global Realty. Global will issue 10.5 million shares of its common stock and up to 2.2 million shares of its preferred stock. Current stockholders of EHI will own no less than 91% of the outstanding shares of Global's common stock after the merger.

Stuart will head the new management team as chairman/president/CEO. Other officers will be Matthew Flemming, chief financial officer; Dwayne Lewis, chief operating officer; G. Ross Brown, vice president/operations; and David Rains, vice president/marketing.

The new board of directors will comprise Stuart; Flemming; Lewis; A. Earl Swift, chairman, Swift Energy; Frank X. Marshik, retired senior vice president/business development, M.W. Kellogg Corp.; and W. Donald Parr, senior vice president/financial advisor, UBS PaineWebber, Dallas.

Excalibur Holdings Inc. currently employs 200 staffers at a 250,000-sf manufacturing center in Tulsa, OK.