Value Holdings, Inc. Purchases the Assets of John Ziner Lumber Limited.TORONTO--(BUSINESS WIRE)--Feb. 23, 1999--Value Holdings, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:VALH) today announced that its 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. , Network Forest Products Limited, purchased substantially all the assets of John Ziner Lumber Limited for $20.5 million Canadian dollars. The acquisition has closed into escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. pending final funding. Network Forest Products is a wholesale distributor and remanufacturer of lumber in Ontario that occupies 14 acres outside of Toronto with 22,000 square feet of production and office space. The facility also has a Canadian National Railways Canadian National Railway, rail system in Canada and the United States, extending from coast to coast in Canada with many branch lines in each province and in the United States. spur that can accommodate 12 rail cars for direct service to the site. The company employs 129 people. Concurrent with the transaction, Robert Ziner became president and a director of Value Holdings, Inc. Former interim president Alison Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. remains as secretary and a director of the company. Mark Rosenberg has also joined the board of Value Holdings. Jeffrey Kurtz and Gene Bialys have both resigned as directors. |
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