Arguss Holdings Announces Closing Of Rite Cable Construction, Inc. Acquisition.ROCKVILLE, Md.--(BUSINESS WIRE)--Oct. 6, 1997--Today, Arguss Holdings, Inc. announced the closing of its acquisition of Rite Cable Construction, Inc. of DeLand, FL. Rite Cable, whose primary operations are in the Carolinas, provides underground and aerial construction services and splicing splicing /splic·ing/ (spli´sing) 1. the attachment of individual DNA molecules to each other, as in the production of chimeric genes. 2. RNA s. for fiber optic and coaxial cable to major telecommunications customers on a national level. The purchase price, provided all performance goals are met over the next 12 months, is anticipated to be $3.5 million, to be satisfied with a combination of cash and Arguss common stock, plus the assumption of outstanding debt. Rite Cable will operate as a division of White Mountain Cable Construction Company, a 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. of Arguss Holdings, Inc. There will be no changes to the current Rite Cable management team; Alvin Wright will remain as its Chairman and Les Smith as its President. This release contains "forward-looking" statements based on current expectations that involve a number of risks and uncertainties. The factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to the following: general economic conditions and growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. in the telecommunications construction and SMT (1) (Surface Mount Technology) See surface mount. (2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software. SMT - Station Management circuit board manufacturing industries; competitive factors and pricing pressures; changes in product mix; changes in the seasonality of demand patterns; the timely development and acceptance of new products and services; inventory risks due to shifts in market demand; component constraints and shortages; risk of nonpayment of accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying ; ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale and expansion of capacity; and those discussed in filings made by the Company with the Securities and Exchange Commission. Arguss Holdings, 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 :ARGX) is a holding company that conducts its operations through its wholly owned subsidiaries, White Mountain Cable Construction Corp., TCS (Transportation Control System) A widely used integrated information system for railroad transportation developed by the Missouri Pacific Railroad Company in the late 1960s and early 1970s. It was later implemented by Union Pacific when the companies merged. Communications, Inc. and Conceptronic, Inc. White Mountain Cable and TCS are engaged in the construction, reconstruction, maintenance, repair and expansion of communications systems, cable television and data systems, including providing aerial construction and splicing of both fiber optic and coaxial cable to major telecommunications customers. Conceptronic is a leading worldwide manufacturer of highly advanced, computer-controlled capital equipment used in the electronic, SMT circuit assembly industry. Conceptronic's equipment is preferred by most of the world's largest automotive, telecommunications, aerospace, computer and contract assembly manufacturers. CONTACT: Arguss Holdings Haywood Miller, 301-315-0027 |
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