Chempower acquires Controlled Power.AKRON, Ohio--(BUSINESS WIRE)--May 3, 1995--Chempower Inc. (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 - CHEM CHEM Chemistry CHEM Chemical CHEM Chemist CHEM Chemistry Mission CHEM Centre des Hautes Études Militaires (French) CHEM Center for Healthcare Environmental Management CHEM Charge-Energy-Mass (spectrometer) ), announced today that it has acquired 100 percent of the partnership interests of Controlled Power Limited Partnership (CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. ), for an undisclosed amount. CPC, located in Canton, Ohio, has been in business for 28 years and employs 150 people. CPC is in the business of designing and manufacturing electrical metalclad switchgear The term switchgear, used in association with the electric power system, or grid, refers to the combination of electrical disconnects, fuses and/or circuit breakers used to isolate electrical equipment. , power distribution systems, and bus duct systems for mass transit authorities, utilities, chemical and other industrial facilities throughout the country. Commenting on the acquisition, Chempower Inc. President and Chief Executive Officer T.J. Kukk said, ``This is a unique opportunity for Chempower to further diversify into manufacturing and to expand its sheet metal fabrication services.'' Kukk further stated that James G. Owens has been appointed as president of CPC. Owens was an original founder of CPC and operated the company for twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. prior to 1989. Chempower Inc. provides construction and maintenance services and metal fabrication services and products to the industrial and commercial markets. The company also operates offices in Las Vegas; Vincentown, N.J.; Cincinnati; Washington, Pa.; Waverly, Tenn.; and Winfield, W. Va. CONTACT: Chempower Inc., Akron Robert E. Rohr, 216/896-4202 |
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