Auxer Industries Inc. Announces The Acquisition of Comac Systems Ltd.WAYNE, N.J.--(BUSINESS WIRE)--Sept. 12, 1997--Auxer Industries Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Electronic Bulletin Board:AUXI) announced today the acquisition of Comac Systems Ltd., a software company located in Surrey, England with a revenue base of over $2 million specializing in maintenance management systems. Comac is a 16-year-old Computerized Maintenance Management System Computerized Maintenance Management System (CMMS) is also known as Enterprise Asset Management. A CMMS software package maintains a computer database of information about an organization’s maintenance operations. (CMMS CMMS Computerized Maintenance Management System CMMS Computerized Maintenance Management Software CMMS Center for Medicare and Medicaid Services CMMS Conceptual Model of the Mission Space CMMS Center for Multilingual Multicultural Studies ) company. This company has just completed a two-year product renovation and is well positioned in the international community. Comac currently has over 500 US and UK users. The MK10, the new release, is available in DOS, Windows, and Oracle. The company has achieved annual revenue levels of $3.5 million over the past two years while the company has concentrated on development of their new MK10 product which can be reviewed on the Internet at http://maintenance.net/comac. The marketplace for this product is several $100 million. This is the second acquisition of several which will become a member of the new software group offering a spectrum of management applications ranging from maintenance, project, program, CAD, asset and financial packages. Auxer plans to add other products to the group in the future. The group, Auxer Software UK, will offer multiple solutions and integrated packages to midsize companies traditionally only offered to large companies. The company intends to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. economies of scale, strength from critical mass, an international presence on both sides of the Atlantic and a solid world wide customer base. The industry has accepted Auxer's Software UK group concept with tremendous enthusiasm. Each of the target acquisitions represents cutting edge technology and enjoys the respect of being the product of choice in its respective markets. Auxer Industries is a holding company which currently owns five subsidiaires under two groups: Auxer Software UK, intends to continue to grow through the acquisition of several UK based technologies with the intent of bringing these established companies and high quality products to the United States market. This group is in the process of evolving into a spectrum of integrated management applications geared toward addressing mid to large size company needs. This level of integration has traditionally been customized only for the largest sized corporations and has never been available to the mid to large size company segment of the market which has long been ignored. This group currently owns Gable CAD Systems, a Computer Aided Design (application) Computer Aided Design - (CAD) The part of CAE concerning the drawing or physical layout steps of engineering design. Often found in the phrase "CAD/CAM" for ".. manufacturing". company and Comac Systems. Auxer Automotive is a rapidly growing aftermarket automotive and marine manufacturer and distributor. The automotive group owns and markets several automotive lines including Formula 2000 Ultimate(TM) Engine Oil Treatment, Garrys(R) Royal Satin Cream Paste(TM), Royal Satin Marine Cream Paste(TM), King's Ransom Clear Coat(TM), It(R) silicon spray, T-Bolt(R) rust penetrant pen·e·trant adj. Penetrating; piercing: a penetrant wind from the north. n. Something that penetrates or is capable of penetrating. , Easy Test(R) Antifreeze antifreeze, substance added to a solvent to lower its freezing point. The solution formed is called an antifreeze mixture. Antifreeze is typically added to water in the cooling system of an internal-combustion engine so that it may be cooled below the freezing point testers, Battery Testers, Carbon Monoxide carbon monoxide, chemical compound, CO, a colorless, odorless, tasteless, extremely poisonous gas that is less dense than air under ordinary conditions. It is very slightly soluble in water and burns in air with a characteristic blue flame, producing carbon dioxide; testers, Air Conditioning Recharge Kits & Components, and Drain Plug Kits, distributed internationally. Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of 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. Investors are cautioned that such forward looking statements involve risks and uncertainties, including, without limitation, completion of acquisitions, continued acceptance of the acquired companies' products, competition, new products and technological changes, intellectual property rights and other risks. CONTACT: Auxer Industries Inc. Ronald Shaver, 800/418-2002, www.auxer.com |
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