Augat discontinues negotiations with Lindsay Specialty Products.MANSFIELD Mansfield, city and district, England Mansfield, city (71,325) and district, Nottinghamshire, central England, on the western border of Sherwood Forest. The city lies in a coal district, with manufactures of hosiery, shoes, and metal products. , Mass.--(BUSINESS WIRE)--Feb. 21, 1996--Augat Inc. (NYSE NYSE See: New York Stock Exchange :AUG) today announced that it has terminated its negotiations with Lindsay Lindsay, town (1991 pop. 16,696), SE Ont., Canada, on the Scugog River, NE of Toronto. It is an industrial town, with woolen, flour, and lumber mills, in an agricultural and scenic lake district. Specialty Products. Augat had previously announced on December December: see month. 20, 1995 that it had signed a letter of intent to acquire certain electronic assets of Lindsay Specialty Products. "Our communications business is currently growing at a rate of more than 30 percent annually and the market demands immediate investment in these product areas," said William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack R. Fenoglio, Augat's President and Chief Executive Officer. "Augat is disappointed that this transaction has not moved to closure. The pace of the Lindsay negotiations is inconsistent with the requirements of our major customers and the achievement of our growth objectives. Therefore, we have decided to break off negotiations rather than continue at an unproductive pace." Ron Hoover, Augat's Vice President of Business Development and chief negotiator in the process, stated, "We were unable to make progress in addressing major issues which have hampered the negotiation process. We intend to address this market through other investments and relationships." One of the largest manufacturers of connector products in the world, Augat Inc., is pursuing a strategy for growth in communications, automotive, computer and industrial markets through customer partnerships, new-product introductions, strategic acquisitions and ongoing productivity measures. CONTACT: Ellen B. Richstone or James R. Buckley James Richard Buckley (November 18, 1870 - June 22, 1945) was a U.S. Representative from Illinois. Born in Chicago, Illinois, Buckley attended the public and parochial schools and Christian Brothers' Commercial Academy. He engaged in mercantile pursuits. Chief Financial Officer Account Executive Augat Inc. Sharon Merrill Associates, Inc. 508/543-4300 617/262-1800 |
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