AM International Inc. announces agreement to sell its forms and sheetfed printing presses and AIP businesses.ROSEMONT, Ill.--(BUSINESS WIRE)--July 5, 1995--AM International Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AM) Wednesday announced the execution of an Agreement with Graphic Systems Services Inc., an Ohio corporation, for the sale of certain tangible and intangible assets relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the manufacture and sale of the forms and sheetfed printing presses formerly manufactured by the company's Sheridan Systems division. In conjunction with the sale of the forms and sheetfed businesses, AM will also sell its service and supplies business for the former business unit known as Advanced Imaging Products ("AIP AIP acute intermittent porphyria. AIP Acute intermittent porphyria "). The total purchase price for the transaction is approximately $6.0 million. This transaction is subject to certain conditions and is expected to close in July, 1995. AM's Chairman, President and Chief Executive Officer, Jerome D. Brady, said Wednesday that "this transaction will permit the Sheridan Systems division to focus on its core businesses of bindery A NetWare file used for security and accounting in the early NetWare 2.x and 3.x versions. The bindery pertained only to the server it resided in and contained the names and passwords of users authorized to log in to that server. and newspaper mailroom equipment sales and services. "Our overall market strategy requires that full attention be devoted to the central lines of business of the Sheridan Systems division, and our recent strategic alliance with IDAB WAMAC WAMAC Washington Area Military Athletic Conference AB, a Swedish company, and the purchase of IDAB Inc.'s stacker business are further examples of our commitment to this philosophy." AM also announced Wednesday the sale of its photocopier photocopier Device for producing copies of text or graphic material by the use of light, heat, chemicals, or electrostatic charge. Most modern copiers use a method called xerography. servicing business in England, which was operated through the company's AM Multigraphics division. The business was sold to Danka UK plc, for a total purchase price of 2.825 million pounds. Brady described the transaction as a "crucial step toward the restructuring of our European businesses, with a focus on our core competencies and a commitment to restructuring the businesses to profitable levels." The two asset transactions are expected to significantly benefit the company's profitability both for its fourth quarter and its fiscal year ending July 31, 1995. In addition, the company continues its efforts to restructure its foreign operations. To this end, the company announced that it is exiting its unprofitable Australian operation, having earlier commenced a Voluntary Administration Proceeding. The company continues its active review of other restructuring alternatives. AM International, with corporate headquarters in Rosemont, sells and services a wide range of printing and print production equipment, newspaper mailroom systems and bindery systems, and provides services and supplies to the worldwide graphics industry. The company's common stock is traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "AM," and the warrants trade under the symbol "AM.WS." AM International has annual revenues of approximately $500 million and employs approximately 3,200 people. CONTACT: AM International Inc., Rosemont Yvonne Jordan Herbert, 708/685-2512 |
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