Acklands Limited now Acktion Corporation.TORONTO--(BUSINESS WIRE)--Oct. 10, 1997--Acklands Limited (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , WINNIPEG STOCK EXCHANGE:ACK (ACKnowledgment code) The communications code sent from a receiving station to a transmitting station to indicate that it is ready to accept data. It is also used to acknowledge the error-free receipt of transmitted data. Contrast with NAK. 1. ) Acklands Limited has changed its name to Acktion Corporation, and will commence trading its common shares under this name on the Toronto and Winnipeg Stock Exchanges on October 14, 1997. The change reflects the transformation of the Corporation during the past six months and satisfies an obligation to do so incurred on the sale of its industrial group. Established in Winnipeg in 1889, the Corporation grew to pre-eminence in Canada in two core distribution businesses, namely automotive aftermarket parts, and industrial products and supplies. Its divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of the industrial products and supplies business in December, 1996 and its joint venturing of the automotive aftermarket parts business through Carquest Canada Ltd. resulted in a new focus for the Corporation. Today, Acktion Corporation prepares to focus its energies on investments which will generate superior returns to its shareholders. In addition to its equity investment in the automotive aftermarket business, the Corporation owns 40 percent of Goldlist Properties Inc. of Toronto, a fully integrated real estate company with three key divisions - property ownership, development and construction, and property management. As well, the Corporation owns 28.45 percent of MFP (MultiFunction Printer, MultiFunction Peripheral) See all-in-one and MFD. Technology Services Ltd. of Mississauga, a leading technology leasing and asset management services company. The Corporation also owns a commercial real estate portfolio of approximately $30 million, and continues to own and operate Reynolds Fasteners fasteners In construction, connectors between structural members. Bolted connections are used when it is necessary to fasten two elements tightly together, especially to resist shear and bending, as in column and beam connections. , Inc. a U.S.-wide master distributor of quality fasteners. The new name maintains a link with the past, and accordingly, the share trading symbol Trading symbol See: Ticker symbol ACK remains unchanged. CONTACT: Acklands Limited (Acktion Corporation) Mr. K. (Rai) Sahi, 416/631-5200 416/635-9549 (FAX) |
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