Another version of the press release from Reuters:
Friday April 24, 10:45 am Eastern Time
ICC considers air conditioner unit spinoff
HATBORO, Pa., April 24 (Reuters) - ICC Technologies Inc. said Friday that as part of its merger
with Internet services provider Rare Medium Inc., it is evaluating the possible spinoff of its air
conditioning business.
ICC, a designer of climate control systems, said it hired the investment banking firm of Legg Mason
Wood Walker Inc to evaluate strategic alternatives for the air conditioning business.
''(ICC) will concentrate its efforts on rapidly growing its Internet business to further solidify the
position of Rare Medium as a top tier player in the Internet industry,'' said Irwin Gross, ICC's
chairman, and Glenn Meyers, ICC's president and chief executive in a statement.
ICC intends to change its name to Rare Medium and its stock symbol to reflect its new focus.
The air conditioning business is operated by ICC's Fresh Air Solutions subsidiary.
ICC, through its Rare Medium subsidiary, is an Internet professional services company engaged in
the design, development and implementation of Internet website and Intranet/Extranet solutions.
MJ |
