D.G. Jewellery of Canada Ltd. Acquires Aviv Jewelry Business From Aviv Inc.; Forms Aviv Inc.NORTH YORK North York Former city (pop., 2001: 608,288), southeastern Ontario, Canada. In 1998 it joined the cities of Etobicoke, Scarborough, Toronto, and York and the borough of East York to become the City of Toronto. North York became a borough in 1967 and a city in 1979. , Ontario--(BUSINESS WIRE)--Feb. 12, 1998--D.G. Jewellery of Canada Ltd. (Boston Stock Exchange The Boston Stock Exchange (BSE) is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834. On October 2nd, 2007 Nasdaq agreed to acquire BSE for $61 million. - DGJ; Nasdaq - DGJLF) announced the acquisition of the assets of Aviv Inc., a leading American diamond jewelry manufacturing company and its factory outlet division; New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Gold & Diamond Exchange Inc., both located in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , for cash considerations of approximately US$4.0 million including the assumption of debt. Aviv, Inc. is wholly owned by D.G. Jewellery of Canada. Aviv, in business since 1977, manufactures upscale diamond bridal and dinner rings as well as earrings and other jewelry. Its customers include Zales Jewelers, Gordon's Jewelers, Sterling, Friedman's, Helzberg Diamonds Helzberg Diamonds is a diamond retail company founded by Morris Helzberg in 1915 in Kansas City, Missouri. It was quickly taken over, when he became ill, by his son Barnett Helzberg, Sr. at the age of 16. In 1963, Barnett Sr. , J.C. Penney, A.A. Friedman, Reed Jewelers, Fred Meyer, Marks Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . Jewelers, Military Exchange Services, Shopping Networks, hundreds of independent jewelers and a fast growing European distribution base. Jack Berkovits, President of D.G. Jewellery stated, "Aviv is one of the most recognized diamond jewelry manufacturers in America and we feel proud to be associated with people of such a highly regarded firm. We look forward to continuing to provide the level of service which their distinguishing clientele have come to expect throughout the US and Europe. These two acquisitions and the recent acquisition of Diamonair, Inc. are expected to triple our revenues to US$45 million for fiscal 1998 with an expected commensurate increase in profits. Very importantly, D.G. Jewellery has achieved its stated goal of being amongst the premier suppliers of all categories of jewelry including diamonds, precious and semi-precious gemstones and synthetics to all major retailers in America as well as independent jewelers across the country." D.G. Jewellery of Canada is engaged in the design, manufacture, merchandising and wholesale distribution of stone-set jewelry for jewelry retail chains, mass merchants, department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , catalogue show rooms, shopping networks and other high-volume retailers in Canada and in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . -0- This press release may contain forward looking statements that involve risk and uncertainties, including statements related to the introduction of new products. The actual results could differ materially from those anticipated in the forward looking statement as a result of factors including delays in product development and manufacturing and the introduction of new technology. CONTACT: D.G. Jewellery of Canada Ltd. Jack Berkovits, President 416/665-8844 or Gary Davis, Vice President Finance 416/665-8844, ext. 232 |
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