From today's 8k filing for BIPL, this is why they are a cash cow>>
And nice gain on XSNI!
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On April 5, 1999, Registrant ("Biopool International, Inc." or "BII")
entered into a definitive agreement to sell certain assets of its BCA Division
("BCA") located in West Chester, Pennsylvania, to Immucor, Inc. ("Immucor") of
Norcross, Georgia. The transaction closed effective April 30, 1999. There was no
prior relationship between Immucor or any of its officers, directors or
affiliates, and the Registrant and any of its officers, directors or affiliates.
The transferred assets consist of inventory, accounts receivable and certain
intellectual property of BCA. The purchase price was $4.5 million, payable in
cash. The Registrant retains ownership of the plant, property, and equipment in
the West Chester, Pennsylvania, facility and will operate the facility on behalf
of Immucor during the transition period. With this cash sale, the Registrant
expects to generate a significant amount of liquidity, which will position the
Registrant to take advantage of acquisition or investment opportunities to
facilitate growth in the Registrant's core business segment. |
