AURA SYSTEMS TO PURCHASE JAPANESE AUDIO SPEAKER COMPANY
EL SEGUNDO, Calif., May 14 /PRNewswire/ -- Aura Systems, Inc. (Nasdaq: AURA) announced today that it has reached an agreement to purchase 100% of the outstanding shares of the MYS Corporation, a manufacturer and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and supplier of audio speaker systems to the consumer electronics industry. Terms were not disclosed. MYS is headquartered and has its engineering facilities in Japan, with factories in Malaysia and the United States.
MYS has well established marketing and distribution channels and a blue chip OEM customer base in the North American and Asian markets. Aura also intends to sell its proprietary speaker products through the MYS marketing channel system.
MYS is a private corporation closely held by the Masayoshi family who will continue their positions in management and on the Board of Directors of MYS. "Aura welcomes the Masayoshi's and all the employees of MYS into the Aura family of companies," said Mr. Harry Kurtzman, Aura's Chief Executive Officer.
Aura Systems, Inc. is an innovator and producer of electromagnetic devices including its patented High Force Actuator, AuraSound(TM) speakers, Bass Shaker(TM), EVA(TM) (Electromagnetic Valve Actuators) for internal combustion engines, and AMA (Actuated Mirror Array(TM), Ultra Bright Large Screen Televisions).
/CONTACT: Cipora Kurtzman-Lavut of Aura Systems, Inc., 310-643-5300, ext. 209; or Al Donius of Hill and Knowlton, 212-885-0370/
CO: Aura Systems, Inc.; MYS Corporation ST: California IN: CPR Cardiopulmonary Resuscitation (CPR) Definition
Cardiopulmonary resuscitation (CPR) is a procedure to support and maintain breathing and circulation for a person who has stopped breathing (respiratory arrest) and/or whose heart has stopped (cardiac SU: TNM TNM tumor-nodes-metastasis; see under staging.
tumor, nodes and metastases; a system of cancer staging (see TNM staging).
MP -- NYTU121 -- 7774 05/14/96 14:02 EDT EDT
Eastern Daylight Time
EDT Eastern Daylight Time
EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York