Algonquin Mercantile Announces Acquisition of Manufacturing Facility.NEWMARKET Newmarket, town (1991 pop. 15,861), Suffolk, E England. It has been a horse-racing center since early in the 17th cent. There are four principal races: the One Thousand Guineas, the Two Thousand Guineas, the Cambridgeshire, and the Cesarewitch. , Ontario--(BUSINESS WIRE)--May 1, 1998--(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AM.) Algonquin Algonquin (ălgŏng`kwĭn, -kĭn), small group of Native North Americans. The name of the Algonquian branch of the Algonquian-Wakashan linguistic stock (to which they belonged) is derived from their name (see Native American languages). Mercantile Relating to trade or commerce; commercial; having to do with the business of buying and selling; relating to merchants. A mercantile agency is an individual or company in the business of collecting data about the financial status, ability, and credit of individuals Corporation ("Algonquin") announces that it has acquired for $1.7 million a manufacturing facility close to the Oshawa car and truck assembly operations of General Motors of Canada. Algonquin will lease the factory to its subsidiary, Automodular Assemblies Inc. ("Automodular"). Automodular will use the facility for the sequencing of sub-assemblies based on orders recently received from General Motors of Canada. Automodular expects to reach full production in the facility by early 1999. Automodular operates two other facilities in the Oshawa area and plans to coordinate production at all three plants to achieve efficiencies and freight savings. CONTACT: Algonquin Mercantile Corporation Winston R. Ash, 905/841-4473 905/841-2714 (FAX) |
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