Antares Resources acquires Southeastern Motor Sales Inc.GARDEN CITY, N.Y.--(BUSINESS WIRE)--Nov. 21, 1995-Antares Resources Corp. (NASDAQ/Small Cap:ANTR) Tuesday announced it had entered the $15 billion horse trailer A horse trailer or horse van (also called a horse float in Australia and New Zealand) is used to transport horses. There are many several different designs, ranging in size from small units capable of holding two or three horses, able to be pulled by a pickup truck business by acquiring the assets of Southeastern Motor & Trailer Sales Inc., based in Parry, Ga., in exchange for a combination of cash and common stock. Antares Resources said the acquired assets would be assigned to a newly formed subsidiary corporation, changing the name to Southern Trailer Manufacturing Inc. It joins Antares' other three wholly owned subsidiaries 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. , Caribbean Breeze International Inc., Empire Energy Inc., and Cherokee Sun Corp. Southeastern Motor and Trailer Sales Inc. reported sales of $984,000 for the first seven months of 1995. After its sales climbed from $500,000 in 1988 to $3 million in 1993, the company converted to manufacturing its own trailers in a 10,000 sq. ft. plant. With Antares Resources as its parent company, Southern Trailer Manufacturing Inc. will add 40,000 sq. ft. to its manufacturing capacity immediately and manufacture specialty horse trailers and utility trailers. The horse trailers, which range in price from $7,000 to $45,000, will have a capacity of up to five horses, some trailers coming equipped with living accommodations. The utility trailers will be manufactured to sell at prices ranging from $400 to $30,000 depending upon the configuration and equipment. 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. is big "horse country," from the race tracks to riding stables, to private ownership and horse farms. Last year there were 14,000 sanctioned horse shows in the U.S.A. which has an estimated 6.6 million horses. All require specialty horse trailers for transportation. Antares Resources Corp. is the New York-based parent company for three diversified diversified (di·verˑ·s Florida and Georgia-based subsidiaries: Caribbean Breeze International Inc., markets a new line of sun and skin care products; Empire Energy Inc. provides fuel by-products for the pulp and paper industry The global pulp and paper industry is dominated by North American (United States, Canada), northern European (Finland, Sweden) and East Asian countries (such as Japan). Australasia and Latin America also have significant pulp and paper industries. in Georgia and Florida; and Cherokee Sun Corp., which is in the process of entering the cat litter Cat litter (often called kitty litter) is one of any of a number of materials used in litter boxes to absorb moisture from cat feces and urine, which reduces foul odors such as ammonia and renders them more tolerable within the home. business by supplying private-label cat litter "fuller's earth fuller's earth, mineral substance characterized by the property of absorbing basic colors and removing them from oils. It is composed mainly of alumina, silica, iron oxides, lime, magnesia, and water, in extremely variable proportions, and is generally classified as " mined in Georgia. CONTACT: Antares Resources Corp., Garden City Joan Kushay, 516/683-8116 |
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