Bernstein/Leibstone & Associates Inc. announces new product line and shareholder approval of name change.RIVIERA BEACH Riviera Beach (rəvēr`ə), resort city (1990 pop. 27,639), Palm Beach co., SE Fla., on Lake Worth (a lagoon); inc. 1922. Research and development firms are located in the growing city. , Fla.--(BUSINESS WIRE)--Dec. 18, 1996-- Bernstein/Leibstone & Associates Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BLAI BLAI Brown Leaf Area Index ) announced Wednesday that it has received shareholder approval for a name change to Safetech Industries Inc. The board of directors will immediately move to apply to New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State for the appropriate approvals and to NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). for a symbol change. The name change will more accurately reflect the business activity of the company and better position the identity of the company in the Building products industry 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. Darrell L. Peterson, the company's chief executive officer. Additionally, the company announced during the annual shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. held at the Colony Hotel in Palm Beach, Fla., that it is ending the final phase of R&D work on its new plastic lumber line. The company plans to initially market this product nationally through its present distribution system. Introduction of the new plastic lumber line is planned for January 1997. Revenue and profit projections from this new development were not announced at the meeting other than the company expects this new development to significantly add to the company's revenue growth in 1997. Previously the company had announced that it had received the coveted cov·et v. cov·et·ed, cov·et·ing, cov·ets v.tr. 1. To feel blameworthy desire for (that which is another's). See Synonyms at envy. 2. To wish for longingly. See Synonyms at desire. Dade County Product Approval for its ClearShield Hurricane Shutter System. This represents the acceptance of the company's products by the county with the most stringent requirements in the nation. The product approval removes the final obstacle for the company towards re-entering the Broward and Dade County markets, traditionally, the country's largest hurricane protection markets. Product approval is necessary for sale of the product in the South Florida consumer and commercial markets. The new product approval number is 96-0708.04 and approves the clear and black panels for the sale in the Dade and Broward County markets. ClearShield Manufacturing expects that the re-issue of the Dade County Product Approval will have a significant positive effect on revenues in the coming season. Additionally, the company plans to triple capacity before the June 1 start of the 1997 hurricane season. At this time the company is 50% complete with this plan, and believes that this goal will be attained on schedule. ClearShield Manufacturing currently sells to Home Depot stores in Florida, of which there are over 30 in the South Florida area. ClearShield also distributes through its 121 dealers located throughout the Southeastern United States and Caribbean. CONTACT: Bernstein/Leibstone & Associates Inc. Darrell L. Peterson, Chief Executive Officer 800/385-1335 |
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