ARCTIC GROUP COMPLETES ACQUISITION OF IOWA-BASED KRIEG BOYS ICE
Winnipeg, Manitoba - Further to its March 2, 1998 news release. The Arctic Group Inc. announced today it has completed the acquisition of all the assets and operations of Iowa-based D.K.E. Enterprises Inc., which does business as Krieg Boys Ice.
Based in Dubuque, Iowa, Krieg Boys Ice is the largest ice production and distribution company in the state.
The acquisition of Krieg Boys Ice has been completed through a combination of cash and the issuance of common shares.ÿ The acquisition is effective July 1, 1998.
As Canada's largest ice company, The Arctic Group Inc. is committed to building an internationally recognized ice company by focusing on an aggressive strategy of growth through acquisition and consolidation of the ice industry in North America.
For further information, call The Arctic Group Inc. TOLL FREE at 1-888-573-9237 or visit The Arctic Group's Web Site atÿ arcticgroup.com
(Signed) On behalf of the Management and the Board of Directors of The Arctic Group Inc., Robert Nagy, Chairman & CEO.
The Alberta Stock Exchange has not reviewed and does not approve or disapprove of the adequacy or accuracy of this release.
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It's now official ice selling season. Some extended hot weather in texas & eastern canada should be helping sales in those locations meet or beat expectations. It appears the brokerage house doing all the selling for the last month or so, has backed off a little. Maybe they went on a picnic & were forced to ask themselves the question as they were buying some ice at the local store. "Is one bag enough?"
Good Trading,
Markus |
