APPAREL TECHNOLOGIES ISSUES STATEMENT TO INVESTORS
Business Wire - September 24, 1997
COMMERCE, Calif.--(BUSINESS WIRE) -- Sept. 24, 1997--Apparel Technologies, Inc. (NASDAQ:APTX), issued a statement today that they are unaware of any material reasons why their stock has fallen over the last several days. However, they are very excited about their most recent acquisition of The Digital Group, and feel that Wall Street has not yet understood that their digital print technology is in the forefront and could change the textile and apparel industry world-wide.
They have had several meetings with top companies, many of whom are trading on the NYSE that cannot be mentioned at this time, and strongly feel that they will have contracts forthcoming. As stated earlier, ``We have refocused the former ACSI as a technology oriented apparel manufacturing company, with the acquisition on September 4th of The Digital Group, a company with proprietary technology that holds the potential to transform the manufacturing of printed apparel, as well as creating significant change in the textile and apparel retail industries, and should substantially reduce the $32 billion tied up or lost in returned piece goods each year in the U.S. market alone," said Kathryn Van Ness, president and chief executive officer of Apparel Technologies.
The Digital Group has a patent pending technology for a system of digital print for fabrics. Utilizing its proprietary system of computer software, inks, paper and heat transfer, the system permits print-on-demand manufacturing of fashion apparel at competitive cost, creating superior printed apparel with sharp, clear images and vibrant 'locked-in' colors. Because only white fabric is used, change-on-the-fly production including short runs, change orders and personalized garments, give the designer greater freedom, while reducing to days from months the time needed to introduce a product.
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Contact:
Apparel Technologies:
Kathryn Van Ness, President and CEO
213/725-4955
or
ACSI Investor Relations
800/922-3456
or
Institutional Investors:
The Wall Street Group, Inc.
212/888-4848 |
