AMERICAN BUSINESS PRODUCTS SIGNS LETTER OF INTENT TO ACQUIRE HOME SAFETY EQUIPMENT CO., INC.
ATLANTA, June 23 /PRNewswire/ -- American Business Products, Inc. (NYSE: ABP) today announced that it has signed a letter of intent to acquire all of the stock of privately held Home Safety Equipment Co., Inc., doing business as Conway Enterprises or Discount Labels of New Albany, Ind. "The proposed cash transaction is subject to the execution of a definitive agreement," said Thomas R. Carmody, ABP president and chief executive, in making the announcement. Discount Labels, a specialty label producer, had sales of $22.1 million for the fiscal year ended Dec. 31, 1992. Founded in 1963, the company has approximately 350 employees. Upon consummation of the acquisition, the company will operate as an independent unit of American Business Products under current management. "Discount Labels has been highly successful and no changes in its operation or method of doing business are contemplated. The addition of Conway Enterprises to ABP's group of operating companies will broaden our product line and expand our markets as part of our plan for growth," Carmody said. American Business Products, Inc., which marked its 51st consecutive year of record sales ($463.5 million) in 1992, is a leading supplier of forms for computers and other electronic equipment; envelopes and specialty mailers; book printing, and other business supplies with 43 production facilities in the continental United States and Hawaii. ABP's operating companies are Curtis 1000 Inc., Vanier Graphics Corporation, BookCrafters USA, Inc., American Fiber-Velope Mfg. Co. and Jen-Coat, Inc. The company also has a joint venture, Curtis 1000 Europe GmbH in Neuwied, Germany. -0- 6/23/93 /CONTACT: Robert W. Gundeck of American Business Products, 404-953-8300/ (ABP)
CO: American Business Products; Home Safety Equipment Co. ST: Georgia, Indiana IN: SU: TNM
RA-BN -- AT005 -- 5104 06/23/93 15:19 EDT
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|Date:||Jun 23, 1993|
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