To: 2MAR$ who wrote (5866 ) 5/31/1999 10:30:00 PM From: Ga Bard Respond to of 9440
Wyant Corporation Reports Acquisition SOMERVILLE, NJ, May 31 /CNW-PRN/ - Wyant Corporation (Nasdaq: WYNT - news) announced today that its Canadian subsidiary, Wood Wyant Inc., has entered into a definitive agreement to acquire certain assets and the operating business of the Atlantic Sanitation Division of Cassidy's Ltd. headquartered in Dartmouth, Nova Scotia. The all cash transaction is expected to close on June 30, 1999. The Atlantic sanitation business of Cassidy's Ltd. (formerly known as Maritime Chemical) is a leading provider of sanitation products and services to the commercial and institutional markets in Nova Scotia, New Brunswick and Prince Edward Island. Commenting on the acquisition, Wyant Corporation Chairman and Chief Executive Officer, Donald C. MacMartin, stated that ''the combination will strengthen our ability to provide superior products and services to our many customers throughout the Maritime Provinces. This is another significant step in our overall strategy of building on our position as a leading national distributor in the Canadian sanitation supply industry''. Wyant Corporation is an integrated sanitation and facility maintenance supply company with extensive manufacturing, sales and distribution capabilities. It operates three manufacturing plants, including a sanitary paper products converting plant, a chemical manufacturing plant and a converting operation manufacturing disposable wiping products. Wyant's business is conducted in North America through two subsidiaries, Wood Wyant Inc. and IFC Disposables, Inc. The Company employs approximately 500 people in the United States and Canada. Detailed corporate information and press releases can be accessed at: www.wyantcorp.com