Chemfab Corporation to list on New York Stock Exchange.MERRIMACK, N.H.--(BUSINESS WIRE)--Feb. 24, 1997-- Chemfab Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CMFB CMFB Committee on Monetary, Financial and Balance of Payments Statistics (Europe) CMFB Common Mode Feedback (signal amplifiers) CMFB Cosine-Modulated Filter Bank ) today announced that it has filed an application to list its common stock on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The Company's shares will continue trading on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. until the New York Stock Exchange listing becomes effective. Trading on the New York Stock Exchange is expected to begin on or around March 11, 1997, under the stock symbol "CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. ." Commenting on this event, Duane C. Montopoli, Chemfab's President and Chief Executive Officer, said, "Moving Chemfab's listing to the New York Stock Exchange should have numerous benefits for the Company's individual and institutional shareholders. We are making this change for the purpose of promoting narrower bid-ask spreads, enhanced visibility and improved liquidity. We believe that the New York Stock Exchange is the most efficient market for the trading of Chemfab shares." Chemfab Corporation is a world leader in the development, manufacturing and marketing of polymer-based engineered products and materials systems for use in severe service environments. The Company's products typically consist of fiber-reinforced flexible composites, coated or laminated with fluoropolymers, and specialty fluoropolymer A fluoropolymer is a polymer that contains atoms of fluorine. It is characterized by a high resistance to solvents, acids, and bases. Fluoropolymers were discovered serendipitously in 1938 by Dr. Roy J. Plunkett. films. Worldwide end-use applications are in electronics, environmental, food processing, architectural, aerospace, communications, protective clothing and other industrial markets. CONTACT: Chemfab Corporation Moosa E. Moosa (603) 424-9000 |
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