More stuff on ADCO. Do your DD and you may see what I see. Hardly any paper out there on this one. This is an investment, imo.
biz.yahoo.com
Monday May 18, 8:31 am Eastern Time
Company Press Release
American Resources and Development Co. Makes
Announcement
SALT LAKE CITY--(BUSINESS WIRE)--May 18,
1998--American Resources and
Development Co. (OTC BB:ADCO - news) Monday announced
that it has acquired more than 80 percent of the common stock of
Printworks Inc. of Portland, Ore., and anticipates that it will
acquire 100 percent of the stock in the near future.
The company, assuming 100 percent of Printworks is acquired,
will issue 129,930 shares of its common stock for the acquisition.
Additional shares of the company may be issued based upon the
earnings of Printworks for each of the three years, ended March
31, 2001, and based upon the market price of the company's
securities.
Printworks Inc., which operates under the name Pacific Print
Works, was founded in 1993 and operates a contract screen
print and embroidery business.
Pacific Print Works employs approximately 85 people and
performs contract work for firms in the apparel industry, including
Nike, Columbia Sportswear, Jantzen, Banana Republic and Dr.
Martens.
In addition to strengths in water-based printing, plastisol and
soft-hand plastisol, and nylon mesh applications, Pacific Print
Works is also an industry leader in the hottest new trend in the
screenprinting industry, high-density printing.
''Pacific Print Works quality of design, printing and embroidery, as
well as customer service, has enabled it to establish an extremely
attractive base of customers, along with the ability to bring on
large new customers,'' stated Karl Badger, president and chief
executive officer of the company.
Management of both companies believe the acquisition of Pacific
Print Works represents a unique opportunity to capitalize on the
synergies between Pacific Print Works and the company's other
subsidiary, Fan-Tastic Inc.
''We expect to leverage Pacific Print Works design, screen printing
and embroidery expertise toward development of Fan-Tastic's
own licensed product line for sale in the company's Fan-a-Mania
stores and elsewhere,'' stated Jeff Harden, president of Pacific
Print Works.
American Resources and Development Co. owns an interest in a
franchisor and owner of retail entertainment and sports stores, and
has an investment in a regional developer and management
provider of golf courses and related developments. American
Resources and development Co.'s common stock is traded on the
over-the-counter bulletin board market under the symbol ADCO.
For additional information contact Karl Badger at 801/363-8961.
Contact:
American Resources and Development Co., Salt Lake City
Karl Badger, 801/363-8961 |
