ABC Dispensing Technologies Inc. announces "Virtual Squeeze"; a definitive multi-million dollar joint venture with Damon Industries.AKRON, Ohio--(BUSINESS WIRE)--June 25, 1997--ABC Dispensing Technologies Inc. announced today it entered into a multi-million dollar joint venture agreement with Damon Industries, a privately-owned, national fruit juice manufacturing company headquartered in Sparks, Nev., to form "Virtual Squeeze" -- a 50-50 business enterprise designed to effectively compete in the $3 billion institutional fruit juice market. The objective of the joint venture is to provide the Skilled Nursing Facility skilled nursing facility n. Abbr. SNF An establishment that houses chronically ill, usually elderly patients, and provides long-term nursing care, rehabilitation, and other services. Industry with the shelf-stable juice products manufactured by Damon and state-of-the-art dispensing technology provided by ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. . Douglas S. Damon, president of Damon Industries, stated: "The equipment manufactured by ABC perfectly matches the needs of nursing homes." With a horizontal integration Horizontal Integration When a company expands its business into different products that are similar to current lines. Notes: For example, a hot dog vendor expanding into selling hamburgers. Compare this to vertical integration. See also: Vertical Integration of the two manufacturers, Damon and ABC working together, Damon believes that a significant portion of this industry can be penetrated by the Virtual Squeeze joint venture. Damon further stated: "High technology, quality, economy of scale, and other benefits resulting from this joint venture will bring a new face to the industry. Nursing homes are being constructed at a phenomenal rate to accommodate the aging population. Presently, there are tens of thousands of nursing homes in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ." Charles M. Stimac Jr., president/CEO of ABC Dispensing Technologies Inc., stated: "This is the real deal. Virtual Squeeze, with Damon Industries as our respected and experienced partner, will be a powerful product offering in the institutional juice market. Compounding our equipment placements and juice sales year after year allows for the possibility of expansive geometric growth and sustained revenues." The mechanics of the joint venture are simple. ABC will manufacture equipment and provide technical support for use by the joint venture. Damon will manufacture fruit juice and provide marketing and administrative support for the joint venture. The equipment will be sold and leased back by the joint venture and the leases will be serviced from juice revenues. The customer commits to Virtual Squeeze for Verb 1. squeeze for - squeeze someone for money, information, etc. coerce, force, hale, pressure, squeeze - to cause to do through pressure or necessity, by physical, moral or intellectual means :"She forced him to take a job in the city"; "He squeezed her for a period of time, and the joint venture provides the rest (equipment, juice, service). The customer gets great juice and equipment at the simplest and most competitive prices in the industry. After joint venture expenses are covered all profits from juice revenues will be split 50-50 by ABC and Damon. Stimac added further: "An all-out direct sales/marketing effect has commenced with the major nursing facility chains and mainline mainline Drug slang verb To inject a drug food distribution companies. N.S.F. certification was applied for and is in process. Installation, service, and preventative maintenance strategies are being implemented. We are also planning expansion of our production capacity. Results of marketing research and field test locations have been astoundingly positive." ABC's electronically brix-controlled, automatic dispenser is capable of pouring 400 chilled, four ounce drinks per hour. The system has built-in "dishwasher-like" mandatory periodic sanitization sanitization /san·i·ti·za·tion/ (-ti-za´shun) the process of making or the quality of being made sanitary. san·i·ti·za·tion n. functionality. The button-actuated, patented nozzle inside the convenient, moveable wand dispenses water and concentrate simultaneously and repeatedly for up to six flavors. The unit is totally self-contained -- electronics, power supply, compressor compressor, machine that decreases the volume of air or other gas by the application of pressure. Compressor types range from the simple hand pump and the piston-equipped compressor used to inflate tires to machines that use a rotating, bladed element to achieve , chiller chill·er n. 1. One that chills. 2. A frightening story, especially one involving violence, evil, or the supernatural; a thriller. chiller Noun 1. ,and bins for up to six bags of concentrate -- all fit within the small footprint. Automatically blending two juices at a time provides an expanded universe
The term Expanded Universe (sometimes called an Extended Universe) is generally used to denote the 'extension' of a media franchise (i.e. of flavors. ABC Dispensing Technologies Inc. provides user-friendly solutions to world-wide customers with needs for fast, precise and reliable measurement and control of high-volume dispensing of beverages, other liquids, paints, powders and other granular ingredients. CONTACT: ABC Dispensing Technologies Inc., Akron Charles M. Stimac Jr., 330/733-2841 |
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