And another.
Monday July 1 9:36 AM EDT
Alpha Pro Tech Ltd. acquires balance of Ludan Corp.
Chicopee National rollout of Chix(R) Aqua Trak Black(TM) set for August 1
SALT LAKE CITY--(BUSINESS WIRE)--July 1, 1996--Alpha Pro Tech Ltd. (OTC:APTD),
today announced its acquisition of the remaining 20% of Ludan Corp., thereby giving it 100%
ownership.
This move is in anticipation of expected near-term major sales increases in its food service, clean
room and healthcare areas.
These expectations are based in part on the company being informed by Chicopee Inc. that it will
officially launch its North American roll-out of the Chix(R) Aqua Trak Black(TM), Alpha's food
service industry shoe cover, on Aug. 1, 1996. On April 9, 1996 the company announced a potential
$26 million three-year exclusive distribution agreement with Chicopee. The company is already
experiencing major sales growth in its Apparel division in both the clean room/industrial and the
healthcare areas.
The outstanding interest in Ludan was acquired for $68,000 in cash and stock options for 75,000
shares at the current market price. Danny Montgomery, the founder the president of Ludan, will
continue to serve as president of what will now become the Coating Division of Alpha Pro Tech,
where he developed Alpha's patented laminate for its Aqua Trak(TM) shoe covers for the clean
room and food service areas. He also helped engineer Alpha's second generation patented
automated shoe cover machine -- the most efficient and least expensive production method
available. Montgomery's great expertise will now be utilized across Alpha Pro Tech Ltd.'s other
divisions as well.
Alpha Pro Tech develops, manufactures and markets innovative disposable protective apparel
products for the medical, dental, food service and clean room markets. The company has
manufacturing facilities in Salt Lake City, Utah; Nogales, Ariz.; Janesville, Wisc.; Valdosta, Ga.; and
Benjamin Hill and Nogales, Mexico.
CONTACT: Alpha Pro Tech Ltd.
Donna Millar, 905/479-0654
or
KCSA
Paul Holm/Adam I. Friedman, 212/682-6300, ext. 201/205
I am starting to like this puzzle! To bad it seems like nobldy else is aware of it, now is your chance.
CAN YOU SAY UNDERVALUED!!!!
KD |
