Impreso, Inc. Subsidiary Agrees to Acquire Certain Assets of United Computer Supplies, Inc.Business Editors COPPELL, Texas--(BUSINESS WIRE)--March 20, 2002 TST/Impreso's Purchase of Assets of Business Forms and Small Rolls Company Expected to Increase Annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. Sales by Approximately 15% Impreso, Inc. (Nasdaq SmallCap: ZCOM), which through its subsidiaries is involved in (1) the manufacture and distribution of paper and film hard copy imaging products for commercial and home office applications and (2) the development of eCommerce initiatives, today announced that its wholly-owned subsidiary, TST/Impreso, has entered into an Asset Purchase Agreement to purchase substantially all of the assets of United Computer Supplies, Inc. and its affiliates ("United") for approximately $7.6 million. Completion of the transaction, which closed on the personal property on March 19, 2002, and is expected to close on the real property in approximately 45 days, is subject to certain contingencies and standard conditions to closing. Headquartered in Itasca, Illinois Itasca is a village in DuPage County, Illinois, United States. The population was 8,302 at the 2000 census. Schools The Itasca School District #10 is home to three public schools. Raymond E. Benson Primary hosts grades PreK-2. , United is a leading producer of business forms and small roll products for a wide range of end markets. With annual sales of approximately $30 million, United has developed a reputation for consistent quality, reliable supply and outstanding customer service. United's core product line consists of continuous feed business forms, which are produced in a wide range of sizes and colors, both with and without carbon. In addition, United has expanded and supplemented its product mix through the introduction of small roll products. TST TST 1 Toxic shock toxin 2 Treadmill stress test, see there has purchased United's business forms and small roll inventory, the equipment associated with the production of small rolls, specific business forms equipment, and customer lists, and has agreed to purchase the Itasca plant. We expect United will liquidate To pay and settle the amount of a debt; to convert assets to cash; to aggregate the assets of an insolvent enterprise and calculate its liabilities in order to settle with the debtors and the creditors and apportion the remaining assets, if any, among the stockholders or owners of the all other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. . TST intends to employ approximately half of United's current employees. "We are delighted to enter into an agreement to acquire a majority of the assets of United. The addition of the Itasca plant will increase TST's number of manufacturing facilities to five, three of which service the densely populated pop·u·late tr.v. pop·u·lat·ed, pop·u·lat·ing, pop·u·lates 1. To supply with inhabitants, as by colonization; people. 2. Eastern portion of 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. ," stated Marshall Sorokwasz, President and Chief Executive Officer of Impreso, Inc. and TST/Impreso, Inc. "A number of important synergies should result from the acquisition, including the ability to more effectively utilize United's existing manufacturing capacity in the production of small rolls, while allowing TST/Impreso to dedicate more of its production capacity to the manufacture of branded cut sheet and specialty imaging products. We should also realize important distribution efficiencies through freight cost savings and the elimination of all public warehouse facilities that overlap between our two companies." "Upon completion of the proposed acquisition, we estimate that Impreso's consolidated annual sales should exceed $120 million in fiscal 2002 and $160 million in fiscal 2003, and TST/Impreso will have significantly increased its share of the business forms and small rolls market," continued Sorokwasz. "We also expect the addition of United to have a positive impact upon Impreso's earnings per share during the twelve months following the completion of the acquisition." In its fiscal year ended August 31, 2001, Impreso, Inc. had net earnings of $.24 per share on net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of approximately $96 million. About Impreso, Inc. Impreso, Inc. is a holding company for TST/Impreso, Inc. and HotSheet.com, Inc. TST/Impreso, Inc. is a manufacturer and distributor of hard copy imaging products for commercial and home use in domestic and international markets. HotSheet.com, Inc. primarily owns HotSheet.com, a single-page, online Internet directory with categorized cat·e·go·rize tr.v. cat·e·go·rized, cat·e·go·riz·ing, cat·e·go·riz·es To put into a category or categories; classify. cat links to premier web destinations. The Company's website domains are www.hotsheet.com, www.impreso.com, and www.tstimpreso.com. Impreso, Inc. is headquartered in Coppell, Texas Coppell is a city in Dallas County, Texas, a suburb and bedroom community of the DFW Metroplex. The population was 35,958 at the 2000 census. A small area in the far northern portion of the city extends into neighboring Denton County. , and its common stock trades on the Nasdaq Small Cap Market under the symbol "ZCOM". This press release may include statements that constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the 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. provisions of 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. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, paper prices and raw material costs, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. |
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