Data Documents Incorporated signs agreement to acquire Moore Labels, Inc.OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb.--(BUSINESS WIRE)--July 14, 1997--Data Documents Incorporated (Nasdaq:DDII) today announced it has entered into a definitive agreement to acquire Moore Labels, Inc. of Wichita, Kansas
Wichita, also known as the Air Capital of the World, is the largest city in the U.S. state of Kansas, as well as a major aircraft manufacturing hub and cultural center. , a privately held supplier of pressure-sensitive labels used in the pharmaceutical, food, plastics and miscellaneous manufacturing industries manufacturing industries npl → industrias fpl manufactureras manufacturing industries npl → industries fpl de transformation . Moore Labels had revenues of $13.5 million in 1996. Upon completion of the acquisition, Moore Labels will become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Data Documents. Terms of the transaction were not disclosed. The acquisition is subject to completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . "This is an important move for Data Documents," said Walter J. Kearns, Data Documents' chairman, president and chief executive officer. "The acquisition reflects our strategy to further penetrate high-growth segments of the pressure-sensitive label market. "Moore Labels will be a strong complement to our existing prime label offerings," Kearns continued. "Data Documents entered the prime label market in 1995 with the acquisition of Cal Emblem. For many years, we have been a leader in information systems labels. This latest acquisition will further enhance our position in the pressure-sensitive label market." In business since 1970, Moore Labels customers include major corporations located nationwide. "The company has established a reputation for unusually fast service and excellent quality products," Kearns said. Data Documents, with sales of $246.5 million in 1996, is a leading designer and provider of custom business forms, pressure-sensitive label products, and forms management services and systems. These products and services enable customers to enhance productivity and reduce costs associated with managing information. Additionally, the company's InteliMail. division provides specialized direct mail products and services to its corporate customers nationwide. Data Documents' label group has major operations in Dallas, Fresno, Denver and Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). and sales offices nationwide. For more information about Data Documents, visit the company's web site: www.datadocuments.com. CONTACT: A. Robert Thomas Chief Financial Officer 402-339-0900 or Investor Relations Investor relations The process by which the corporation communicates with its investors. : David Walke/Howard Zar/ Shannon Moody Press: Michael McMullan Morgen-Walke Associates 212-850-5600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion