TO ALL: LATEST PRESS RELEASE:
Atrix International and Firamada, Inc.Sign "Letter of Intent"
April 8, 1998 02:02 PM
MINNEAPOLIS--(BUSINESS WIRE)--April 8, 1998--Atrix International Inc. ATXI of Burnsville, MN and Firamada, Inc. FAMH of New York, NY announced today the signing of a letter of intent. The terms of letter call for the companies to negotiate in good faith and work towards the preparation and execution of a definitive agreement, the mutually agreed to terms also state that this agreement is non-binding and nonexclusive. The structure of the merger would be such that the outstanding shares of Firamada, Inc. would be exchanged for newly issued shares of Atrix International, Inc. Following the merger, the Board of Directors of Atrix would be reconstituted in a manner satisfactory to both parties, with the understanding that designees of Firamada would constitute a majority of the directors. Under the terms of the letter of intent, the two companies have until April 30, 1998 to reach a definitive agreement. Atrix is a leading edge manufacturer of remote metering and production monitoring hardware for the copy control and plastic injection molding industries. The company develops and writes propriety monitoring software for these same industries. In addition, Atrix manufactures industrial vacuums, vacuum filters and printed circuit board transport cases for the office machine/computer industries. The company also offers numerous innovative programs for supplying tools and instrumentation for field service organizations throughout the world. The common stock of Atrix is traded on NASDAQ under the symbol ATXI. Firamada, Inc. is a corporate staffing entity headquartered in New York with offices in Texas, Arizona, Missouri and New York City. The common stock Firamada is traded over the counter under the symbol FAMH.
Atrix International E-Mail: Atrix@worldnet.Att.net Internet: www.Atrix.com |
