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Microcap & Penny Stocks : Stratford Acquisition (HARD) - Turnaround Extraordinaire? -- Ignore unavailable to you. Want to Upgrade?

To: Doug from CT who wrote (33)	8/18/1999 9:13:00 PM
From: Thomas Kundrat	Respond to of 34

Here's the release... Related QuotesHARD 0.250000 -0.020000 delayed 20 mins - disclaimer Monday August 16, 11:55 am Eastern Time Company Press Release Novex Systems International, Inc. Acquires the Allied Composition/ Por-Rok Businesses From the Sherwin-williams Company. NEW YORK--(BUSINESS WIRE)--Aug. 16, 1999--Novex Systems International, Inc. (formerly Stratford Acquisition Corporation) completed its acquisition of the Allied Composition/Por-Rok businesses of The Sherwin-Williams Company today. Novex manufacturers and markets a line of speciality building materials and synthetic concrete reinforcement fibers. With this acquisition Novex will be expanding its current product line to include well-known product brand names like Por-Rok, Dash Patch and Lev-L-Astic. Novex will continue to manufacture its Fiberforce concrete reinforcing fibers in its Mississauga, Ontario facility and will continue to operate the Allied/Por-Rok plant in Clifton, New Jersey. The acquired business unit is profitable and should contribute at least $2 million in sales annually which will enable the company to achieve positive earnings on a consolidated basis. A portion of the acquisition financing and working capital financing was provided by Dime Commercial Corp. Novex plans to make additional acquisitions as part of its buy-and-build strategy to become a diversified producer and marketer of specialty building materials. According to Novex's Chief Executive Officer, Daniel W. Dowe, ``the Por-Rok acquisition gives Novex an outstanding platform to build upon in light of the well-accepted product brand names and the distribution system that ranges from major retailers to industrial product distributors that are serviced by over 20 marketing professionals. This acquisition will also open up considerable marketing opportunities for our company to offer our premium concrete repair and flooring products to Por-Rok's existing 800 accounts and for us to penetrate much further into the do-it-yourself market. Starting in the Fall we will begin marketing our Fiberforce fiber products in eight Home Depot stores located in Canada and the northeastern region of the U.S. We will have virtually no product or management overlap which has eliminated the post-closing drag on our momentum. With this acquisition, we have taken a significant step operationally and look forward to continued growth in partnership with Dime Commercial Corp. which provided a portion of the acquisition financing and a working capital facility.' Novex Systems International, Inc. manufacturers and markets premium building materials under the brand names Por-Rok, Dash Patch, Halco, Lev-L-Astic, Fiberforce and Novacrete. The company has its executive offices in New York, manufacturing facilities in New Jersey and Ontario and eleven sales offices located throughout the United States. The Company's common stock is listed on NASDAQ OTC under the ticker symbol ``HARD'. ------------------------------------------------------------------------ Contact: Novex Systems International, Inc., New York Daniel W. Dowe, President and CEO, 212/825-9292