Alliance Industries acquires Carolina Pacific International Inc.BAKERSFIELD, Calif.--(BUSINESS WIRE)--Nov. 20, 1996--Carolina Pacific International Inc., the largest and best-known grower and developer of Paulownia pau·low·ni·a n. Any of several Chinese deciduous trees of the genus Paulownia, having large, heart-shaped, opposite leaves and pyramidal panicles of purplish or white flowers with a spotted interior. Also called princess tree. Tree plantations and American Tree Farms (wholly-owned subsidiary of Alliance Industries) are now one. Alliance Industries (OTC/BB:ALIDA) Wednesday announced it has reached an agreement with Carolina Pacific International Inc. (CPII CPII Characteristics & Performance Intelligence Information CPII Communications & Power Industries International ) to acquire all common stock, methodology and intellectual property of CPII. The purchase price and terms were not disclosed. CPII Chief Executive Officer and President Scot Corbett and Debra Wade, director and secretary, will remain as officers and operate CPII for Alliance Securities. The Paulownia Tree is the world's fastest growing hardwood hardwood: see wood. hardwood Timber obtained from broad-leaved, flower-bearing trees. Hardwood trees are deciduous trees, except in the warmest regions. tree. Paulownia and Alliance Industries have been the subject of much investor enthusiasm in 1996 as the trees will grow to sizes harvestable for lumber lumber, term for timber that has been cut into boards for use as a building material. The major steps in producing lumber involve logging (the felling and preparation of timber for shipment to sawmills), sawing the logs into boards, grading the boards according to production in eight to 12 years. Alliance Industries' common stock value has also recorded meteoric me·te·or·ic adj. 1. Of, relating to, or formed by a meteoroid. 2. Of or relating to the earth's atmosphere. 3. growth this year. CPII's super-cloned Paulownia Elongata Paulownia elongata is a species of plant in the Paulowniaceae family. It is used as a forestry tree in North America and China. It is reportedly the fastest growing hardwood tree, which are known to grow up to 15 or more feet in the first year. has created extensive Paulownia Plantation activity; their research and clonal development over the last several years has led to major government contracts and seedling supply to the nation's largest timber companies. The acquisition by Alliance Industries of CPII's intellectual properties and proprietary technologies firmly positions Alliance Industries as the world leader in Paulownia Tree production, with more than 700 plantations worldwide and orders for tens of thousands of acres for the 1997 season. CONTACT: Donald A. Baillargeon, 805/637-1000 |
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