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Technology Stocks : AXVC - Axial Vector Engine Corporation
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From: QualityStocks4/6/2009 3:37:05 PM
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Axial Vector Energy Corp. (AXVC.PK) Seeks Acquisition of Adaptive Propulsion Systems

Axial Vector Energy Corp. announced that it has engaged in negotiations to acquire Adaptive Propulsion Systems LLC. The company anticipates closing the acquisition and transfering the technology in the next few days.

Because of the highly sensitive nature of the transaction and the importance to both parties, the transfer ceremony will be extended to allow the legal teams to complete the necessary agreements.

AVEC Chairman, Mr. Ahmed Khalifa, commented, “The negotiations have taken off on a positive note and most of the major terms have been agreed upon by both parties. We foresee the final exchange of documents between the respective attorneys by the end of this working week.”

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