Arguss Holdings Announces Proposed Acquisition of Rite Cable Construction Inc.ROCKVILLE, Md.--(BUSINESS WIRE)--Sept. 3, 1997--Arguss Holdings entered into a Letter of Intent detailing their proposed acquisition of Rite Cable Construction Inc. The Rite Cable Construction corporate office is located near Orlando, Fla. with most of their operations in North and 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. . The company 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 regional level. The proposed transaction is for a combination of cash and securities. Rainer Bosselmann, chairman and chief executive of Arguss Holdings, remarked that "Rite Construction has a strong presence 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. and will give our cable operations greater geographic diversity. We are also looking forward to blending our assets to better service our existing customers." The consummation of this proposed transaction is contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent the completion of due-diligence analysis, the signing of a definitive purchase and sale agreement, approval of both companies' boards of directors and other conditions. Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. 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, 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 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. , White Mountain Cable Construction Corp. and Conceptronic Inc. White Mountain Cable is 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 (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 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 Inc. Haywood Miller, 301/315-0027 |
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