Empyrean Communications Inc. Acquires Belfiber Corporation and Basalt Fiber Corporation.Business Editors & High-Tech Writers HOUSTON--(BUSINESS WIRE)--Feb. 19, 2002 Empyrean Communications Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :EPYC) announces today that it has acquired two companies, Belfiber Corporation (Belfiber) and Basalt basalt (bəsôlt`, băs`ôlt), fine-grained rock of volcanic origin, dark gray, dark green, brown, reddish, or black in color. Basalt is an igneous rock, i.e., one that has congealed from a molten state. Corporation Inc. (Basalt), via an issuance of 10,000,000 shares of Preferred EPYC shares for the majority shares of Belfiber and the issuance of 13,000,000 shares of Common 144 shares of EPYC stock for 100% of Basalt Fiber Basalt fiber or fibre is a material made from extremely fine fibers of basalt, which is composed of the minerals plagioclase, pyroxene, and olivine. It is similar to carbon fibre and fiberglass, having better physicomechanical properties than fiberglass, but being . Belfiber Company, a Virginia corporation, markets imported basalt and fiberglass fiber materials. The company sells a high margin product line serving the high-performance pulsejet pulse·jet n. A jet engine in which air intake and combustion occur intermittently, producing rapid periodic bursts of thrust. A jet-propulsion engine containing neither compressor nor turbine. segment of the high temperature filtration market. Belfiber plans on developing specific basalt products to increase materials and products to its sales line. Basalt Fiber Company is a Virginia corporation, which, when fully operational, will produce and market continuous basalt fiber and related products to global markets. Basalt fiber, an advanced technology for the fiber and composites industry, replaces commonly used E or S Glass products and other conventional fiberglass products with better products at competitive prices. Robert L. Lee, a current board member with extensive international business experience, has been named president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Empyrean. Lee will be closely involved in securing financing for the company in both the domestic and international markets. Anthony Fanale, who will be the president and CEO of the company's new Fiber Division, will have full responsibility for the ongoing production, marketing and administration and operations of the Division and will become a member of the board of directors of Empyrean Communications Inc. Empyrean Communications Inc. Announces Board Changes Kenneth Liebscher has resigned as a board member of the company effective Nov. 29, 2002. Thomas McCrimmon has resigned as a board member of the company effective Nov. 20, 2002. Colin Campbell There have been several notable people named Colin Campbell: in Scottish history:
Anthony Fanale was appointed to the board effective Feb. 14, 2002. He brings over 20 years marketing and operations experience in the fiber industry 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. and Russia. This senior executive of the Belfiber and Basalt companies will assume the duties of president and CEO of the company's new Fiber Division. Note: "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. |
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