(BSNS WIRE) Bullhide Anticipates 100% Increase in Revenues to $5,000,000
Bullhide Anticipates 100% Increase in Revenues to $5,000,000
Business Editors
DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--June 22, 1999--The
Bullhide Liner Corporation (OTC BB:BULH) announced today that it has
entered into negotiations to acquire Scorpion Truck Bedlinings, Inc.
Based in Cloverdale, Indiana, Scorpion offers a low cost spray-on
truck bedliner system, which it markets primarily to auto body and
collision repair shops. Scorpion's simplified system allows its
dealers to offer their customers a solvent based, polyurethane
bedliner product as an add on to their already established services.
The low cost of the system allows the dealer to turn a profit
relatively quickly, and the simple nature of the equipment, combined
with the know-how of Scorpion's dealers, minimizes training time.
The acquisition of Scorpion would allow Bullhide to expand its
product line by adding the entry-level Scorpion system to its more
sophisticated Spraymaster 3030 and Spraymaster 3050 systems. These
systems, though used to install bedliners, are more cost efficient
when used for larger industrial flooring and coatings applications. By
offering a more complete product line, dealers will be able to choose
the most cost efficient system for their purposes.
According to W. Gordon Freeman, Chief Executive Officer of
Bullhide, "With approximately 300 dealers in 17 countries, Scorpion is
an ideal acquisition candidate for Bullhide. In addition to expanding
our product line, the acquisition should increase Bullhide's revenues
100% to almost $5,000,000."
The Bullhide Liner Corporation has a revolutionary patent pending
polyurethane-based material initially targeted for the pick-up truck
bedliner market. With its superior strength, toughness, anti-skid
properties and excellent chemical resistance, Bullhide has expanded
into the industrial flooring market. Additionally, when spray molded
onto metal, wood, fiberglass or concrete, this product provides:
superior protection from corrosion and deterioration; chemical
containment; sound dampening; waterproofing; and, equipment
protection.
For more information, visit Bullhide's web site at
www.bullhide.com.
This material was prepared by Strategic Investors Group (SIG) for
the Company discussed herein, based upon Company supplied information
or other sources believed to be reliable. The information is not
guaranteed by SIG for accuracy or to be all-inclusive. The foregoing
discussion contains forward-looking statements that involve risks and
uncertainties. Actual results could differ from those discussed in
this release. This material is for informational purposes only and is
not an offer or solicitation to buy or sell securities. SIG, its
affiliates, and/or its officer, directors and employees may from time
to time have a position in these securities.
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CONTACT: Strategic Investors Group, Fort Lauderdale, Fla.
Donald P. Visco, President
954/567-1639
dvisco@stratego.net
KEYWORD: FLORIDA
INDUSTRY KEYWORD: AUTOMOTIVE CHEMICALS/PLASTICS
BUILDING/CONSTRUCTION MERGERS/ACQ |
