AFGL International announces two significant acquisitions in the temporary staffing industry.NEW YORK--(BUSINESS WIRE)--Sept. 9, 1996--AFGL International 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 :AFGL AFGL Air Force Geophysics Laboratory ) today announced that it has entered into letters of intent to acquire two Northeast temporary staffing services companies, through its Headway Corporate Staffing Services division, brining the company's estimated annual revenue on a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis to approximately $96 million for fiscal year 1996. "This is an exciting step forward in our effort to build a national staffing company focusing on the financial services industry," said Gary S. Goldstein, chairman and chief executive officer of AFGL International. "We are thrilled to have found two high quality companies that fit our acquisition strategy so well. Both companies specialize in serving the financial services community and have a history of rapid growth. In addition, these acquisitions will increase our presence in the higher-end, more profitable office temporary segment of the business. With our position in the Northeast greatly enhanced, we are ready to expand our acquisition campaign nationally," continued Goldstein. The company recently entered the temporary staffing industry through the acquisition of Irene Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Temps Inc. and its affiliates, a major New York-based temporary staffing company, and is in the process of identifying and evaluating several potential staffing acquisition candidates in other financial services centers throughout the country. AFGL International Inc. is a leading provider of human resources and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to the financial services industry. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , AFGL International also has offices in Washington, D.C., London, Tokyo and Hong Kong. -0- Safe Harbor Statement under 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: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operation's, markets, products and prices, and other factors discussed in the company's various filings with the Securities and Exchange Commission, including without limitation the Registration Statement of Form S-3 (Registration No. 333-08615). CONTACT: AFGL International, Inc. Julie Risi, 212/508-3520 or Strategic Growth International Richard Cooper/Alan Goldsand, 516/829-7111 |
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