CBLX HOLDINGS INC. RELEASES STATEMENT
CBLX HOLDINGS INC. RELEASES STATEMENT ENGLEWOOD, Colo., March 16 /PRNewswire/ -- CBLX Holdings Inc.
(NASDAQ: CBLX) has announced today that it has been informed that its three largest shareholders have completed the sale of their share holdings in CBLX to an investor group as of March 16, 1992. The three major shareholders owned an aggregate of approximately 67 percent of CBLX's outstanding stock.
Representatives of the investor group have indicated that the commitment to the corporation and its current executive management team is to continue in its current capacity. A capital infusion of at least $300,000 to $400,000 over the next 12 months will be provided through the investor group to allow the corporation to diversify its current product lines and expand its market presence worldwide. Present plans call for the introduction of two new product offerings within the next 90 to 120 days as a result of a strategic alliance that has been established with Spectrum Photonics, a Texas-based fiber optic engineering firm. The initial products to be introduced are a Fiber Optic Cleaving Tool and an In-Line Coax-to-Fiber Optic Interface Module. CBLX Holdings Inc. currently provides products and services to the cable television industry, including control units and other cable television equipment. -0- 3/16/92 /CONTACT: F. Terry Hankins of CBLX Holdings Inc., 303-694-6789/ (CBLX) CO: CBLX Holdings Inc. ST: California IN: TLS SU:
DM-CH -- SD004 -- 8340 03/16/92 12:42 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 16, 1992|
|Previous Article:||PAINEWEBBER INDEPENDENT LIVING MORTGAGE FUND DECLARES DIVIDEND|
|Next Article:||U.S. ARMY EXERCISES CONTRACT OPTION FOR LOGICON TO SUPPORT SENIOR LEVEL ARMY TRAINING|