American Safety Razor Company Discontinues Exploration of Strategic Alternatives.VERONA, Va.--(BUSINESS WIRE)--May 13, 1998--American Safety Razor Company (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 :RAZR) today announced that it has discontinued its previously announced exploration of strategic alternatives, including the possible sale or recapitalization of the Company, because it was not satisfied with the valuations, terms, and certainty of the alternatives considered. American Safety Razor also commented that, consistent with the Company's objective of maximizing stockholder value, it will opportunistically consider any bona fide [Latin, In good faith.] Honest; genuine; actual; authentic; acting without the intention of defrauding. A bona fide purchaser is one who purchases property for a valuable consideration that is inducement for entering into a contract and without suspicion of being strategic alternative attractive to the Company and its stockholders. American Safety Razor Company is the leading manufacturer of private-brand and value-priced shaving blades and razors in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company's shaving blade and razor products are sold under retailers' private-brand names as well as American Safety Razor's own brands: Personna(R), Gem(R), Flicker(R), Legmate(R), Bump Fighter(R), Treet(R), GEM Blue Star(R), Pal(R), MBC (Multimedia Benchmark Committee) A graphics benchmark that provides MPEG-2 and other tests. See GPC. (TM), and Burma Shave(TM). The Company also manufactures and distributes a female shaving system under the Revlon(R) brand licensed from Revlon and sold under the Perfect Finish(TM). The Company also manufactures cotton swabs, cotton balls and puffs, and foot care items which are sold under retailers' private-brand names as well as its own value-priced brands, Megas(R), ACCO ACCO American College of Chiropractic Orthopedists ACCO Association of County Commissioners of Oklahoma ACCo American Cyanamid Company ACCO Adenoid Cystic Carcinoma Organization ACCO American Clip Company ACCO Assistant Central Control Officer (R), and Crystal(R). The Company is also a leading manufacturer of premium and value-priced blades and bladed hand tools, sold primarily under the Personna(R), American Line The American Line was a shipping company based in Philadelphia that existed from 1871 to 1902. In its original guise it was a part of the Pennsylvania Railroad, although the railroad got out of the shipping business soon after founding the company. (TM), and Ardell(TM) brand names, as well as bar soaps for the cosmetic/skin care, pharmaceutical, and department store markets. In addition to its consumer products, American Safety Razor manufactures and markets industrial and specialty and medical blades. CONTACT: American Safety Razor Company Thomas G. Kasvin, Chief Financial Officer, 540/248-8000 |
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