American Safety Razor Completes Acquisition of The Cotton Division of American White Cross, Inc.VERONA, Va.--(BUSINESS WIRE)--April 23, 1997--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) announced today that it has completed the acquisition of The Cotton Division of American White Cross Inc. ("Cotton"). American Safety Razor previously announced on March 21, 1997, that it had entered into an agreement to acquire certain assets, primarily equipment and inventory, and assume certain obligations, primarily customer and supplier orders, of Cotton for a total consideration of approximately $9.8 million. Cotton manufactures and distributes private-label and value-brand cotton swabs "Q-Tip" redirects here. For the rapper, see Q-Tip (rapper). For the band, see Q-Tips (band). Cotton swabs (British English: cotton buds) are used in first aid, cosmetics application, and a variety of other uses. , cotton rounds and squares, cotton balls and puffs, pharmaceutical coil, and cotton rolls. "We are excited that Cotton is now a part of American Safety Razor," stated William C. Weathersby, ASR's President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "Cotton strongly complements our existing operations, adding both new products and new customers to our rapidly growing fiber and foot care segment." 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 value-priced brands of Personna(R), Gem(R), Flicker(R), LegMate(R), Bump Fighter(R), Treet(R), GEM Blue Star(R), Pal(R) and MBC (Multimedia Benchmark Committee) A graphics benchmark that provides MPEG-2 and other tests. See GPC. (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: SM Berger & Co. Stanley Berger or Brian Vogel, 216/464-6400 |
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