Bria Communications announces merger with AltaChem Group.SALT LAKE CITY--(BUSINESS WIRE)--July 31, 1995--Bria Communications Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BRIAA) announced today the signed letter of intent to merge with the AltaChem Group, an Irish company. Under the terms of the agreement, Bria Bria is the capital of Haute-Kotto, one of the 14 prefectures of the Central African Republic. The town has a population of 35,204 (2003 census). See also: prefectures of the Central African Republic and AltaChem will execute a stock for stock exchange in a tax-free tax-free adj. Not subject to taxation; tax-exempt. tax-free Adjective not needing to have tax paid on it: a tax-free lump sum Adj. 1. reorganization. AltaChem will transfer 100% of the issued and outstanding stock of AltaChem to Bria. In exchange, Bria will issue a sufficient number of shares of Bria common stock to AltaChem so that AltaChem will own 80% of the common stock of Bria, of which 5% of the common stock will be held by AltaChem's consultants. The completion of the merger is subject to the settlement of all outstanding liabilities of Bria. AltaChem creates commercial chemicals and products for the renovation, repair, maintenance and insulation insulation (ĭn'səlā`shən, ĭn'sy  –), use of materials or devices to inhibit or prevent the conduction of heat or of electricity. of buildings, houses, vehicles and mobile homes. The company sells a range of one component foams such as the foam packed in aerosol aerosol (âr`əsōl,–sŏl): see colloid. aerosol System of tiny liquid or solid particles evenly distributed in a finely divided state through a gas, usually air. cans, foam applicators, valves, rings and accessories. The one component foams are used as a foamable adhesive/sealant. AltaChem hopes to be the world market leader on one component pu foams. The company has ventures in Belgium, Slovenia, China, India and Russia. AltaChem estimates the company will grow at a 20% rate per year. Sales are expected to reach approximately $33 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) with positive cash flow $6.1 million (USD) by the year 2000. CONTACT: Bria Communications Corp. Richard Surber, 801/575-8073 |
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