BELDING HEMINWAY COMPANY ENGAGES FINANCIAL ADVISOR
BELDING HEMINWAY COMPANY ENGAGES FINANCIAL ADVISOR NEW YORK, Feb. 19 /PRNewswire/ -- Belding Heminway Company, Inc.
(NYSE: BHY) announced today that it has engaged Bear, Stearns & Co. Inc. as its financial advisor for the purpose of exploring a possible merger or sale of the company. On Feb. 14, 1992, Belding Heminway announced that it intended to hire a financial advisor to assist in exploring alternatives to maximize value for its shareholders, including a possible merger or sale of the company.
Company Profile Belding Heminway is a multifaced corporation engaged in manufacturing, marketing and distributing textile and related products. The company's two major divisions -- Industrial and Consumer Products -- serve their markets worldwide, through a network of strategically located plants, warehouses and offices. Scope of Operations Industrial Division: The company's Industrial Division consists of Belding Corticelli Thread Group and the Home Furnishings Group which manufacture and market industrial threads and decorative home furnishings fabrics. Belreine Corporation: The company's export division located at 78 Avenue de Champs Elysees, Paris, France markets products related to the Industrial Division and will provide market and/or manufacturing capability to non related products on a worldwide basis. Consumer Products Division: The Consumer Products Division, consisting of B. Blumenthal, Lansing and Pentapco, packages and markets a diversified line of consumer products for home and office use. Real Estate: The company has investments in entities organized to develop various residential and commercial properties. Cellular Telephone: The company has a minority interest in an operating cellular telephone company. -0- 2/19/92 /CONTACT: Ronald V. Kaplan of Belding Heminway Company, Inc., 212-556-4700/ (BHY) CO: Belding Heminway Company, Inc. ST: New York IN: SU:
SM-KW -- NY076 -- 0616 02/19/92 16:25 EST
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|Date:||Feb 19, 1992|
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