A.D. TECH accepts Foilmark's decision not to pursue discussions on acquisition offer.TAUNTON, Mass.--(BUSINESS WIRE)--May 30, 1997-- World's largest food company to expand microwave product sales in Europe using A.D. TECH's patented materials Advanced Deposition Technologies Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADTC ADTC Armament Development Test Center ADTC Advanced Data Tools Corporation ADTC Apparel Training and Design Centre (India) ADTC Advance Data Transfer Cartridge ADTC Advanced Data Transfer Cartridge ) announced today they have accepted Foilmark's decision not to pursue discussions regarding A.D. TECH's unsolicited un·so·lic·it·ed adj. Not looked for or requested; unsought: an unsolicited manuscript; unsolicited opinions. unsolicited Adjective acquisition offer. "I believe Foilmark's decision was short-sighted and uninformed," said Glenn J. Walters, president/CEO of A.D. TECH. "There are significant cost savings, technical synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. and manufacturing economies of scale that could have benefited both company's shareholders in this proposed transaction. A.D. TECH had financing available for this transaction, but we will respect their decision." A.D. TECH made an offer to purchase all of Foilmark's stock on May 14, 1997. The offer was made at a premium to the current market price of Foilmark's Common Stock. A.D. TECH also announced today that Unilever, the largest food company in the world, after more than 12 months of successful test marketing of "ACCU-CRISP" in Europe, has decided to broadly expand product sales using A.D. TECH's patented microwave food packaging materials. Additionally, A.D. TECH is introducing a new microwave product: Microwave Roaster roaster a young fowl for eating; weighs 5 to 7 lb at 6 months of age. Bags, which can brown and crisp a whole chicken or turkey in one-third the time of conventional ovens, utilizing A.D. TECH's patented materials. In the past six months, the "BROWN N' CRISP" infomercial in·fo·mer·cial also in·for·mer·cial n. A relatively long commercial in the format of a television program. [info(rmation) + (com)mercial.] Noun 1. has been running very successfully, being rated one of the top ten informericals during this period and a second infomercial is underway. The new Microwave Roaster Bags are expected to be offered in the near future. "BROWN N' CRISP" is being sold in numerous international markets and expanding. For instance, A.D. TECH has a promotional agreement with Sanyo microwave ovens. "BROWN N' CRISP" has been very successful at the retail level, with distribution expanding to all major retailers nationwide. "BROWN N' CRISP" is becoming a staple at the consumer level and a significant portion of A.D. TECH's annual revenues. Advanced Deposition Technologies, Inc. (NASDAQ: ADTC) is a technology development corporation committed to commercializing new technologies and products related to thin films, coatings, dielectric dielectric (dī'ĭlĕk`trĭk), material that does not conduct electricity readily, i.e., an insulator (see insulation). A good dielectric should also have other properties: It must resist breakdown under high voltages; it should not film and vapor depositions Vapor deposition Production of a film of material often on a heated surface and in a vacuum. Vapor deposition technology is used in a large variety of applications. . Currently, the company has product divisions in markets for electronics, microwave food packaging, security holograms, retroreflective films, and a product development group. The company either owns or licenses more than 35 patents and has approximately twelve patents pending. A.D. TECH pursues technology leadership positions in its existing markets and develops new products for emerging growth industries. On a selective basis, the company licenses its proprietary technologies and patents to market leaders who can accelerate the revenue growth of A.D. TECH's unique products and technologies into large-scale commercialization and markets. Certain statements contained above are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual events, results, and/or timing may differ from the events, results and/or timing as projected, estimated, or described above. CONTACT: Glenn Walters Maribel Lopez A.D. TECH, Inc. Ronald Trahan Associates, Inc. 508/823-0707 617/332-0101 |
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