Concert Industries Ltd. Applies for De-listing from TSX.GATINEAU, Quebec -- Concert Industries Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CNG CNG Compressed Natural Gas CNG Calling (Tone) CNG Comfort Noise Generation CNG Cryptography Next Generation (Microsoft Windows Vista) CNG Centre National de Génotypage ) ("Concert") today announced that it has applied to the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. to de-list its shares and debentures.The de-listing will be effective as of the close of business December 31, 2004 to coincide with the implementation of the previously announced final plan of arrangement pursuant to the Companies' Creditors Arrangement Act of its Canadian operating subsidiaries (the "Plan"). With the implementation of the Plan, the Tricap Restructuring Fund will become the direct or indirect sole shareholder of Concert's Canadian and European operating subsidiaries. Following these arrangements, the assets remaining in Concert Industries Ltd. will have no material value. Company profile Concert Industries Ltd. is a company specializing in the manufacture of cellulose fiber based non-woven fabrics using airlaid manufacturing technology. Concert's products have superior absorbency ab·sor·bent adj. Capable of absorbing: absorbent cotton. n. A substance that is capable of absorbing. ab·sor capability and are key components in a wide range of personal care consumer products, including feminine hygiene Feminine hygiene is a general term used to describe products used by women during menstruation, vaginal discharge, and other bodily functions related to the vulva. Sanitary Towels (also known as maxi-pads or napkins), pantiliners, tampons, and feminine wipes are the major and adult incontinence products. Other applications include pre-moistened baby wipes, disposable medical and filtration applications and tabletop products. The Company has manufacturing facilities in Canada, in Gatineau and Thurso, Quebec Thurso is a city in the Papineau Regional County Municipality in the Outaouais region of western Quebec. It is located on the Ottawa River, and is within Canada's National Capital Region. Its 2001 population was 2436. , and in Germany, in Falkenhagen, Brandenburg. Forward looking statements Statements contained in this press release that are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such factors include among others: competition, reliance on new products, management of growth and expansion, product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , reliance on major customers and suppliers, start-up of new manufacturing facilities, foreign currency, government regulation and intellectual property rights. CONCERT INDUSTRIES LTD. (TSX:CNG) |
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