Printer Friendly

BFD INDUSTRIES WILL ACQUIRE GEM NONWOVENS, INC.

 BFD INDUSTRIES WILL ACQUIRE GEM NONWOVENS, INC.
 MARKHAM, Ontario, Oct. 6 /PRNewswire/ -- BFD Industries


(Vancouver: BFI) today announced it signed an asset purchase agreement to acquire the assets of GEM Nonwovens, Inc. ("GEM"), an automated manufacturer of disposable surgical head and shoe covers, located in Huntsville, Ala.
 Under the terms of the agreement, and in accord with the Bankruptcy Court approval, BFD will acquire all the assets of GEM, and will satisfy GEM's obligations to certain creditors who hold such assets as security, which obligations do not exceed $330,000 (U.S.). Additionally the patented process for the automated equipment has been acquired from another party in consideration for the payment of a royalty of 4 percent of the gross profits that are produced from the use of the patented process for a period of six years. This agreement is subject to the approval of the Vancouver Stock Exchange.
 BFD Industries manufactures and markets a full line of patented eye and face shield products for healthcare, industrial, and consumer applications. The shields are optically clear, distortion-free and anti-fogging. They are also disposable in order to eliminate any chance of cross contamination. BFD's Alpha Pro Tech unit manufactures surgical and dental face masks, as well as medi-pads. BFD has manufacturing facilities in Birmingham, Ala., Salt Lake City, and Janesville, Wis.
 This press release was prepared on behalf of the board of directors by the undersigned who accepts full responsibility for its contents:
 ON BEHALF OF THE BOARD
 Sheldon Hoffman, CEO
 The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
 -0- 10/6/92
 /CONTACT: Sheldon Hoffman, CEO, BFD Industries, 60 Centurian Dr., No. 112, Markham, Ontario, L3R 9R2, 416-479-0654; or Tom Laughran, 708-564-5610, Bruce Marcus, 212-580-0703, Earle Brown, 813-796-1452, or Tim King, 213-541-4415, all of The Investor Relations Company, for BFD Industries/
 (BFI.) CO: BFD Industries; GEM Nonwovens, Inc. ST: Ontario IN: MTC SU: TNM


SM -- DE025 -- 7266 10/06/92 17:28 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 6, 1992
Words:334
Previous Article:WARBURG PINCUS ANNOUNCES PURCHASE OF JCI DEBENTURES
Next Article:McDONNELL DOUGLAS WILL LAUNCH COMMUNICATIONS SATELLITE, OCT. 12
Topics:


Related Articles
BFD INDUSTRIES ANNOUNCES ACQUISITION OF ALPHA PRO TECH
BFD INDUSTRIES REPORTS SALES INCREASE IN SECOND QUARTER
BFD INDUSTRIES INC. COMPLETES ACQUISITION OF GEM NONWOVENS ASSETS
BFD REPORTS AGREEMENT TO PURCHASE MDC CORPORATION, PATENTS AND LICENSE AGREEMENT
BFD ENTERS INTO LOAN COMMITMENT AGREEMENT
BFD COMPLETES FINAL PAYMENT ON ALPHA PRO TECH ACQUISITION
BFD REPORTS GRANTING OF INCENTIVE STOCK OPTIONS
BFD INDUSTRIES REPORTS SALES INCREASE IN 2ND QUARTER AND SIX MONTHS
BFD INDUSTRIES TO PURCHASE DISPOSAL MEDICAL PRODUCTS, INC.
BFD INDUSTRIES SIGNS EXCLUSIVE DISTRIBUTION AGREEMENT WITH BAXTER'S SCIENTIFIC PRODUCTS DIVISION

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters