M.D.C. Holdings, Inc. today announced that Luis Solis has been added to the senior management team reporting to Charles Schneider, senior vice president of MDC. His focus will be to improve the strength of the Company's purchasing organizations and leverage the Company's scale as a leading national homebuilder. He will provide leadership to the various regional and divisional purchasing teams around the country. The Company has undertaken to strengthen its ability to make decisions on a national and regional basis.
"We are excited to have added Luis to our team," said David Mandarich, MDC's president and chief operating officer. "He will help us make purchasing and supply chain management a key core competency of our Company. This will enable us to get more value from our relationships with major suppliers and subcontractors and will put us in a position to maximize the management of our costs while improving quality and inventory turns."
Prior to joining MDC, Mr. Solis was president and chief executive officer of Symbius Corporation, a supply chain consulting firm advising Fortune 1000 global clients. Previously, he was an executive vice president with GeoLogistics Corporation, a global logistics outsourcing provider. Prior to GeoLogistics, Mr. Solis was a vice president with GE Capital Corporation focused on strategy and investments for a $500 million global logistics services company. Mr. Solis is a graduate of the University of Pennsylvania and Stanford Business and Law schools.
MDC, whose subsidiaries build homes under the name "Richmond American Homes," is one of the largest homebuilders in the United States. The Company also provides mortgage financing, primarily for MDC's homebuyers, through its wholly owned subsidiary, HomeAmerican Mortgage Corporation. MDC is a major regional homebuilder with a significant presence in some of the country's best housing markets. The Company is the largest homebuilder in Colorado; among the top five homebuilders in Northern Virginia, Phoenix, Tucson and Las Vegas; and among the top ten homebuilders in suburban Maryland, Northern California, Southern California and Salt Lake City. MDC also has a growing presence in Dallas/Fort Worth and has recently entered the Houston and Philadelphia/Delaware Valley markets.
SOURCE: M.D.C. Holdings, Inc.
CONTACT: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Inc., +1-303-804-7706, greece@mdch.com; or Robert Solomon of Rubenstein
Associates, Inc., +1-212-843-8050, rsolomon@rubenstein.com, for M.D.C.
Holdings, Inc.
The Richmond American Homes companies (RAH), HomeAmerican Mortgage Corporation (HMC), American Home Insurance
Agency (also known as AHI Insurance Agency) (AHI) and American Home Title and Escrow Company (AHT) are
owned, directly or indirectly, by M.D.C. Holdings, Inc. and, therefore, are affiliated companies. Each of
RAH, HMC, AHI and AHT offers services independently of each other, and if you obtain a product or service
from one company, you are not required to utilize the services of, or obtain products from, the other
company. Your decision to use a company that is not affiliated with RAH, HMC, AHI or AHT will not affect
your ability to obtain products and services from these companies. See licensing information.
Certain statements on the Site, including statements regarding the MDC Companies' business, financial condition,
results of operation, cash flows, strategies and prospects, constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be
identified by terminology such as "likely," "may," "will," "should," "expects," "plans," "anticipates,"
"believes," "estimates," "predicts," "potential" or "continue," or the negative of such terms and other
comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements of the MDC Companies to be materially
different from any future results, performance or achievements expressed or implied by the forward-looking
statements. Additional information about the risks and uncertainties applicable to the MDC Companies' business
is contained in MDC's filings with the Securities and Exchange Commission, including MDC's Annual Reports on
Form 10-K and Quarterly Reports on Form 10-Q. The MDC Companies undertake no duty to update publicly any
forward-looking statements, whether as a result of new information, future events or otherwise. However, any
further disclosures made on related subjects in MDC's subsequent filings with the Securities and Exchange
Commission, press releases and/or presentations should be considered.
