MIDL-NEWS:
Midland, Inc. Announces Sale of Entertainment Division
Business Wire - December 15, 1997 11:28
%MIDLAND MIDL %TEXAS %NEVADA %ENTERTAINMENT %RESTAURANTS %FOODS %BEVERAGES %COMPUTERS %ELECTRONICS %COMED V%BW P%BW
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DALLAS--(BUSINESS WIRE)--Dec. 15, 1997--Midland, Inc. (Nasdaq/BB:MIDL) announced today that it has sold DRC Incorporated of Las Vegas, Nev.
DRC (a Nevada corporation) is in the restaurant, bar and entertainment business in Las Vegas to CNH Holdings, Inc., a Nevada corporation, for cash and stock. Midland decided to sell DRC due to its continued concentration in the bearing and power transmission business and the final acquisition of Diskman Software.
Midland has closed on its acquisition of Diskman Software of Dallas, Texas. Diskman develops and sells software to various industries throughout the U.S. Charles Kandutsch, president of Diskman, and his management team will remain, and Kandutsch will become a vice president of Midland. New Departure's interchange software will be transferred to the new subsidiary for further development and marketing. Diskman adds marketing and software expertise that management feels will more than double revenues from the software division. Sales for FY 1998 are expected to exceed $5,000,000.
Midland is a fully reporting company trading on the OTC market. All reports for Midland have been filed in a timely manner, and the company intends to remain current on its filings.
For additional information, contact Investor Relations at 800/754-4519.
CONTACT: Midland, Inc.
Investor Relations, 800/754-4519 |
