BusinessNet Holdings Corp. Announces Acquisition of Action Services, Inc.; Will Merge Optical Technology Operations.Business Editors MIDLAND PARK, N.J.--(BUSINESS WIRE)--April 26, 2000 BusinessNet Holdings Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BNHC) announced today that it had agreed to acquire Action Services, Inc., a Tennessee Tennessee, state, United States Tennessee (tĕn`əsē', tĕn'əsē`), state in the south-central United States. based optical products manufacturer and distributor with operations in Knoxville, TN and Miami, FL. BusinessNet will merge Action Services' operations with the Chemko Optical Supplies Division of its EyeAmerica, Inc. subsidiary to create ASI ASI, n See Anxiety Sensitivity Index. , which will be one of the largest chemical and technology suppliers to Opticians, Ophthalmologists, Optometrists and optical laboratories worldwide. "By combining the operations of two long-established former competitors, we believe that the new ASI will emerge as the clear leader in what has been a highly-fragmented industry, and allow us to continue to be a pioneer in developing, manufacturing and distributing innovative, high-quality and high-value products to the optical industry", said Mr. John Lux, President of EyeAmerica. Mr. Gershon Berman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Action Services, stated: "We expect that the marriage of our two companies will result in greatly increased sales as we take advantage of our 75 years of experience, Chemko's patented products and new products under development, and the economies which will result from combined management, sales forces, advertising campaigns and a state-of-the-art Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the business-to-business presence". Certain statements in this press release are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning 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 and involve known and unknown risk, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the for ward- looking statement. Factors that impact such forward-looking statements include, among others, changes in worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition. |
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