well shoot. ole P.J.takes some time of and comes back to this pile a crud. whats it all bout rw. whys the share count so high rw. wahts this orbit thing bout rw. this wouldnt be nother one a them westbdige things would it rw. you know where you say somethings gonna hapen then it dont and mean time you sell shares into it. its called pump and dump. have a look see what ol P.J. found.
Industrial Holdings, Inc. Agrees to Acquire Orbitform
24 July 2000
Industrial Holdings, Inc. Agrees to Acquire Orbitform HOUSTON - Industrial Holdings, Inc. reported today that it has reached an
agreement, subject to approval of its shareholders, to acquire OF Acquisition,
L.P. ("Orbitform"), a manufacturer of engineered fastener setting machines.
Since February 1998, the Company has held a limited partnership interest in
Orbitform. As a result of this transaction, IHI will acquire the remaining 51%
interest of Orbitform, and Orbitform will become one of its wholly owned
subsidiaries. In addition, the agreement satisfies a requirement of its senior
lenders. The Company believes that its control of Orbitform will provide it
with greater opportunities to develop and enhance markets for IHI's engineered
fasteners (which currently represents approximately 20% of IHI's revenues) and
Orbitform's engineered fastener-setting machines, which should result in a
larger customer base and expanded profile in the engineered products market.
Orbitform manufactures high-quality forming, fastening and assembly
systems that are sold primarily to the original equipment manufacturers in the
automotive, appliance, electronics assembly, hardware and tools and home
furnishing industries. Its expertise includes orbital forming, thermo-
pneumatic staking, impact riveting, fastening and assembly systems, and roller
head forming. Its brand-name products include Orbitform orbital riveters and
orbital forming equipment, Adtech impact riveting machines and Thernuform
thermo-pneumatic staking systems.
Michael Marsh, President and Chief Executive Officer, stated, "I am
pleased that we have reached an agreement on the acquisition of Orbitform, and
feel confident that our shareholders will approve the transaction. With the
addition of Orbitform, we will be able to strengthen our market position, cash
flow and borrowing base, and will be in a better position to complete a
comprehensive refinancing of our outstanding debt."
Industrial Holdings operates four groups: the Engineered Products Group
which manufactures cold-formed fasteners and specialty metal components for
sale primarily to original equipment manufacturers in the home furnishings,
automotive and electrical components industries; the Stud Bolt and Gasket
Group which manufactures and distributes stud bolts, nuts, gaskets, hoses,
fittings and other products primarily to the petrochemical, chemical and oil
and gas industries; the Heavy Fabrication Group which manufactures and
distributes medium and thick-walled pressure vessels, gas turbine casings,
heat exchangers, wind towers, heat panels and other large machined weldments;
and the Energy Group which remanufactures and sells high pressure valves,
pumps and other related products to the petrochemical, chemical and petroleum
refining industries, the pipeline transportation and storage industries and
energy industry.
now rw you know industrial holdings dont even trade no more. are you selling shares into this and then nothins gonna happen rw. wouldnt be the first time woud it rw. talk to me rw. you know you post here. talk to me. |
