American CinemaStores to Acquire The Digital Group for up to 600,000 Shares of Common Stock.COMMERCE, Calif.--(BUSINESS WIRE)--Sept. 2, 1997-- Unique Print-On-Demand System Aimed at Reducing $32 Billion Returned Piece Goods piece goods pl.n. Fabrics made and sold in standard lengths. Also called yard goods. piece goods Noun, pl goods, esp. fabrics, made in standard widths and lengths Noun 1. Market, Amongst Other Benefits American CinemaStores Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACSI ACSI Association of Christian Schools International ACSI American Customer Satisfaction Index ACSI Association Canadienne des Sciences de l'Information (French) ACSI American Communications Services, Inc. ), in a further expansion in the apparel trades, Tuesday announced that it had signed a Letter of Intent to acquire The Digital Group, a privately owned company with patents pending on a system of digital print technology for fabrics, and will form a new ACSI subsidiary called Digital Group. Digital Group's three founders, William Grier, Walter Wilhelm and Roger Wilson, will receive up to 600,000 shares of common stock based on earnings contributions for ACSI, and will remain with the company. Grier, president of the new Digital Group subsidiary, is a former senior executive of Cactus Inc., and in his 20 years of product development application experience in the print industry helped pioneer successful sublimation sublimation, in chemistry sublimation (sŭblĭmā`shən), change of a solid substance directly to a vapor without first passing through the liquid state. printing for apparel and has been involved with many direct print-on-demand technologies. Wilhelm, who will direct sales and marketing for The Digital Group, is the former founder of Microdynamics, a pioneer in Quick Response technology, and is a partner in Wilhelm-Leslie Associates, a firm specializing in bringing leading-edge technology to the sewn goods industry. Wilson, executive vice president of The Digital Group, a prominent apparel industry spokesman for the "Agile Manufacturing Agile manufacturing is a term applied to an organization that has created the processes, tools, and training to enable it to respond quickly to customer needs and market changes while still controlling costs and quality. Concept," was most recently chairman of the board and chief executive officer of Bula Inc., the Durango, Colo., apparel manufacturer which has been the beta site An organization or group that is beta testing hardware and/or software. See beta test. for testing and implementing the Digital Group technology. The advantages of digital printing for apparel in fabric manufacturers are: high-resolution printing produces durable, color-fast apparel; designers can select colors from the widest color spectrum in the industry; the low-stress printing process provides a greater range of fabrics and preserves the material's original drape drape v. To cover, dress, or hang with or as if with cloth in loose folds. n. A cloth arranged over a patient's body during an examination or treatment or during surgery, designed to provide a sterile field around the area. , feel and stretch; direct digital set-up allows change-on-the-fly printing so clients can produce product as needed as needed prn. See prn order. . "The Digital Group process resolves many problems endemic in the fashion world," said Kathryn Van Ness Van Ness may refer to: People
The Digital Group technology enables manufacturers to inventory rolls of white fabric, and print as many or as few yards on demand in different patterns and colors, using a proprietary system involving a computer/design system, unique inks, paper and heat transfer for equipment. Digital Group is in the process of installing its system and equipment in three apparel manufacturing plants, one of which is ACSI's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Susan Burrowes Ltd. Digital Group has also signed a Letter of Intent to acquire three-and-a-half-year-old Cactus-Europe, a Paris-based pioneer in the development of fashion printing on fabric as well as Formica, glass and furniture. Sales of Cactus-Europe in 1997 were $1.4 million. Grier said: "Longer-range plans call for digital application service centers in every major trade region within four years. Simultaneously, Digital Group will begin working with major manufacturers to operate dedicated production centers for companies interested in being ahead of the curve of consumer demand for apparel products." Cactus-Europe recently signed a five-year agreement with Paris-based SEHM (Salon International Del'Habillement Masculin), the organization responsible for the menswear portion of the Ready To Wear show, with offices in 39 countries. SEHM, in conjunction with Digital Group France, will sponsor young apparel designers working with digital printing applications. The SEHM also will sponsor the demonstration of Digital Group production at apparel shows worldwide. ACSI, formerly an operator of merchandise boutiques at movie theater locations, terminated that business in 1996. ACSI now operates two subsidiaries, Sierra Fixture & Design Inc. and Just Jackets Inc., and with its recent acquisition of Susan Burrowes Ltd., has embarked upon a program of strategic apparel and other related acquisitions, with a focus on companies whose revenues and profits can be enhanced not only by astute merchandising but also can benefit from the acquisition of The Digital Group. CONTACT: American CinemaStores Inc. Kathryn Van Ness or Christopher Ebert, 213/725-4955 or ACSI Investor Relations Investor relations The process by which the corporation communicates with its investors. , 800/922-3456 or The Wall Street Group Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212/888-4848 (Institutional Investors) |
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