CompX Completes Chicago Lock Acquisition.Business Editors HOUSTON--(BUSINESS WIRE)--Jan. 11, 2000 CompX International Inc. (NYSE NYSE See: New York Stock Exchange :CIX (Commercial Internet Exchange Association, Herndon, VA, www.cix.org) Pronounced "kicks," it was a membership organization that promoted the development of a level playing field for ISPs. ) announced that it has completed the acquisition of substantially all the operating assets Operating Assets Another term for working capital. of Chicago Lock Chicago Lock Co. is a lock manufacturer. Since 1933, it has sold a tubular lock marketed under the registered trademark "Ace." Millions of Ace locks have been sold; for instance, these locks are used in Northwestern Corporation's Triple Play bulk vending machine. Company as previously announced for approximately $9.2 million in cash. CompX used borrowings under its existing credit facility to pay the cash purchase price. The acquired operating assets manufacture the Ace(R) brand tubular key lock, which has been used in the vending industry for decades, and the Tubar(R) security system, which has a significant position in the higher security vending market. CompX is a leading manufacturer of ergonomic computer support systems, precision ball bearing slides and security products. |
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