ROADMASTER SUBSIDIARY SIGNS LETTER OF INTENT TO ACQUIRE MZH, INC.ATLANTA, Ga.--(BUSINESS WIRE)--January 24, 1995--Roadmaster Industries, Inc. (NYSE NYSE See: New York Stock Exchange :RDM RDM Ring Deutscher Makler (German Realty Association) RDM Red Mage (Final Fantasy, gaming) RDM Remote Device Management (protocol used in theatre lighting equipment) ) today announced that its wholly-owned subsidiary, Nelson/Weather-Rite, Inc. has signed a letter of intent to acquire MZH MZH Mehrzweckhochhaus (University of Bremen, Germany) MZH Moose Lake Carlton County Airport , Inc., a manufacturer and marketer of sleeping bags. MZH, based in Paramus, NJ, is the third largest manufacturer of branded and private label sleeping bags in the U.S. which are sold through mass merchandisers, discount chains, specialty catalogs Specialty catalogs are a promotion and distribution technique commonly employed by direct marketers. They describe, graphically and verbally, a limited range of products. Specialty catalogs are a good promotion/distribution choice for new products. and sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport retailers. Terms of the agreement includes a combination of cash and Roadmaster common stock, as well as the assumption of certain MZH debt. Specific terms of the acquisition were not disclosed. MZH reported sales of approximately $28 million for its fiscal year ended November 1994. Commenting on the acquisition, Henry Fong, President and Chief Executive Officer of Roadmaster, said, "The strategic acquisition of MZH is the first step in our long-term plans to grow our camping business and to develop higher margin product categories for Roadmaster. Our initial plans with MZH include the development of sleeping bag lines under the well-known American Camper and Remington brand names." "Nelson/Weather-Rite has an established leadership position in the camping equipment industry, where sleeping bag sales represent a major category. The addition of MZH products to NWR's tent and camping accessory lines will generate incremental sales and earnings immediately following the closing of the acquisition," Fong added. Melvin Marx, Chairman 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 Nelson/Weather-Rite, stated, "We look forward to working with the MZH management team, which has developed a solid brand franchise by focusing on quality and price, as well as customer service. MZH is a preferred supplier of large mass merchandise retailers such as WalMart Stores and Montgomery Ward." Nelson/Weather-Rite, Inc. is a wholly-owned subsidiary of Roadmaster Industries, Inc. NWR NWR National Wildlife Refuge NWR NOAA Weather Radio NWR National Wildlife Reserve NWR North West Region NWR Not Work Related NWR Network Wavelength Requirement NWR Not Worth Reporting NWR Nuclear Weapons Report products are sold under the American Camper , Weather-Rite and Remington brand names. Roadmaster is one of the largest manufacturers of bicycles and is a leading producer of fitness equipment, junior products and camping equipment. The trademarks or brand names under which Roadmaster sells its products include Roadmaster , Flexible Flyer , Vitamaster , MacGregor , Weather-Rite , American Camper , Remington , DP , Hutch hutch 1. standard cagelike accommodation for rabbits. 2. light, movable cabin for calves or pigs; to provide shelter and warmth for animals at pasture. hutch burn and Reach . CONTACT: Roadmaster Industries, Inc. Henry Fong, 407/624-0885 or Morgen-Walke Associates Christine DiSanto/Adam Steinberg Helen Spanakos - Media Relations, 212/850-5600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion