Wescam Acquires Remaining 49 Percent of Wescam-USA.
HAMILTON, Ontario--(BUSINESS WIRE)--Jan. 3, 1996--WESCAM INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic.
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1. See Tokyo Stock Exchange (TSE).
2. See Toronto Stock Exchange (TSE). :WSC WSC Winter Symposium on Chemometrics
WSC Winter Simulation Conference
WSC Wayne State College
WSC Westfield State College (Westfield, MA)
WSC Western State College (Colorado) ) Wescam Inc. ("Wescam") is pleased to announce its purchase of the remaining 49 percent of Wescam-USA, Inc. ("Wescam-USA") from Terry O'Rourke and Ed Silva.
This purchase is pursuant to an agreement dated March 23, 1995, between Wescam and the vendors, as described in Wescam's initial public offering prospectus of October 12, 1995. In accordance with this agreement, Wescam today made a cash payment to the minority shareholders as partial settlement of the purchase price. The remainder owing will be calculated with reference to fiscal 1995 and 1996 earnings and payment will be in the form of Wescam common shares, to be issued within the next twelve months.
Wescam-USA was formed by the merger of Wescam's U.S. entertainment services operations with Creative Resources and Marketing Group, Inc.("CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ") in fiscal 1995, with the former shareholders of CRM, Messrs. O'Rourke and Silva, owning 49 percent and Wescam owning 51 percent. The merger combined the entrepreneurial skills and contacts in the entertainment industry of Messrs. O'Rourke and Silva with the financial and highly technical resources of Wescam.
Rarely is a motion picture or major sporting event brought to the screen without WESCAM(R) technology, with most recent contributions being towards the production of "Goldeneye goldeneye
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Wescam is the world leader in the design and manufacture of stabilized aerial camera, image capture and microwave systems, used in numerous applications, including: public safety and surveillance, search and rescue, feature films and television broadcast of news and major sporting events around the globe. Wescam is traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE)
Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "WSC".
CONTACT: Mark Chamberlain, 905/689-2231