CFM Majestic Decides Not to Purchase Assets of Monessen Hearth Systems Company.MISSISSAUGA Mississauga (mĭsĭsaw`gə), city (1991 pop. 463,388), S Ont., Canada, 12 mi (20 km) W of Toronto on Lake Ontario. A residential suburb of Toronto and a growing transportation and industrial center, it is one of Canada's fastest-growing , Ontario--(BUSINESS WIRE)--Oct. 18, 1999-- CFM (Cubic Feet per Minute) The measurement of air flow. Cooling fans are rated in CFM. Majestic has announced today that it will not proceed with its previously announced intention to purchase substantially all of the assets of Monessen Hearth Systems Company. CFM has decided not to proceed with this transaction because the results of its due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. investigation have not been satisfactory. CFM Majestic Inc. is a leading vertically integrated manufacturer of gas and wood-burning fireplaces, free-standing free-standing Managed care adjective Referring to a physically and, often, financially discrete entity–eg, a surgical center, that is separate from, but may be affiliated with, a hospital; FS facilities may provide ambulatory surgery, emergency or stoves and other hearth products in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and the United Kingdom. The Company designs, develops and manufactures North America's most complete line of hearth products and maintains an ongoing program of research and development aimed at continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. improving the quality, design, features and efficiency of its products. This press release contains forward looking statements that involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include, without limitation, general economic conditions, consumer confidence and the level of housing starts, the Company's ability to develop new products, the seasonality of the demand for the Company's products, competition, and foreign currency fluctuations. These factors and other risks and uncertainties are discussed in the Company's Registration Statement on Form 40-F and in the subsequent reports filed by the Company with the U.S. Securities and Exchange Commission. |
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