Aquagenix completes purchase of Aquatic Right of Way Control.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--June 11, 1996--Aquagenix 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 NM:AQUX,AQUXW) announced Tuesday that the company has completed the purchased of Plant City, Fla.-based Aquatic & Right of Way Control Inc. (ARC) for $1.5 million. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Andrew P. Chesler, chairman of the board and president of Aquagenix Inc., the acquisition of Aquatic & Right of Way Control Inc. significantly increases the company's market presence in industrial vegetation management services in the southeastern 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. . Aquagenix Inc., the leading aquatic and industrial vegetation management company, funded the acquisition with a cash payment of $150,000 and the balance in the form of 270,000 shares of Aquagenix Inc. common stock. Aquatic & Right of Way Control Inc., founded in 1982, is a leading provider of industrial vegetation and utility right of way management services in Florida, Georgia, and Alabama. These services include the control of noxious weeds in the `right of ways' adjacent to distribution and transmission power lines. The assets being purchased from Aquatic & Right of Way Control Inc. include recurring service contracts, industrial vegetation management equipment and treatment products. Ray Spirnock, formerly president of Aquatic & Right of Way Control Inc., has joined the Aquagenix Land-Water Technologies staff as Utilities and Industrial Business Development Supervisor. His primary duties will include business development of industrial right of way customers, customer service as well as ensuring continuity and goodwill. "The purchase of Aquatic & Right of Way Control Inc. represents management's execution of Aquagenix' business strategy of continued growth through targeted acquisitions," said Andrew P. Chesler, chairman of board and president. Aquagenix Inc. is poised to take advantage of the high growth potential of the industry and the opportunities, through acquisition, to consolidate the existing marketplace of privately held aquatic and industrial vegetation management companies. -0- NOTE TO EDITORS: Aquagenix Inc. is the leading provider of aquatic and industrial vegetation management services in the Southeast United States. Based in Fort Lauderdale, the company has service offices in Florida in Daytona Beach Daytona Beach (dātō`nə), city (1990 pop. 61,921), Volusia co., NE Fla., on the Atlantic coast and Halifax River (a lagoon); inc. 1876. Center of a rapidly urbanizing area, in a region settled by Spanish Franciscans in the 17th cent. , Fort Lauderdale, Fort Myers Fort Myers, city (1990 pop. 45,206), seat of Lee co., SW Fla., on the Caloosahatchee River, near the Gulf of Mexico; founded 1850, inc. 1905. It has a tourist trade and light industry and is a shipping point for citrus fruits, winter vegetables, flowers (especially , Jacksonville, Miami Lakes, Orlando, Palm Beach, Sarasota and Tampa and in Myrtle Beach, S.C. It provides aquatic and vegetation management services as well as environmental cleanup services to governmental and commercial customers in Florida, Georgia, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. . CONTACT: Aquagenix Inc., Fort Lauderdale Andrew P. Chesler, Chairman of the Board and President or Helen Chia, Chief Financial Officer 954/975-7771, fax 954/969-7700 |
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