CENTERCORE SEEKS TO ACQUIRE MARIS EQUIPMENT COMPANY FROM JWP, INC.
WAYNE, Pa., April 27 /PRNewswire/ -- CenterCore, Inc. (NASDAQ: CCOR), a designer and manufacturer of office furnishings, ergonomic seating systems and air filtration systems for businesses, the government and health care markets, today announced it has signed a letter of intent to acquire Maris Equipment Company, a wholly owned subsidiary of JWP, Inc. (NYSE: JWP). Maris, headquartered in Exton, Pa., provides integrated electronic systems including security access control, closed circuit television, fire, sound, fiber optics, communications and other systems. Maris markets to businesses, the aviation and transportation industries and the nation's correctional facilities. It is one of the largest electronic systems suppliers to the U.S. Federal Bureau of Prisons. Maris reported 1992 sales of $45 million. CenterCore, a Safeguard Scientifics, Inc. (NYSE: SFE) partnership company, with 1992 net sales of $45.6 million, is based in Wayne. Begun in 1984 as a manufacturer of ergonomic modular office systems for businesses and the government, CenterCore in 1989 developed the industry's first furniture-based air filtration system. Integrating clean room technology, CenterCore's air filtration system is 99.97 percent effective in removing dust and contaminants from the breathing zone of office workers and has been proven to reduce absenteeism and symptoms caused by sick building syndrome. The assets of the company, Airo Clean, that helped design the air filtration system, were acquired by CenterCore in February and offer significant market potential through Airo Clean's recently developed portable isolation devices that are designed to protect bone marrow transplant and HIV-positive patients. "We are always looking for strategic opportunities to improve and diversify our product lines, and this alliance with Maris would allow us to incorporate many additional health, safety and security features into our furniture systems," said George E. Mitchell, CenterCore's president and chief executive officer. Maris' advanced security technology, particularly in the areas of access control and monitoring detection, has the potential of being integrated into individual workstations, to provide additional safeguards both for computer access and air quality monitoring, said Mitchell. Maris initially concentrated on commercial, industrial and institutional clients before moving in 1978 into the correctional facility market, where it now is a dominant player. Maris' clients in the Philadelphia area include Philadelphia Newspapers, Inc.; Liberty Office Towers; the Philadelphia School District and Conrail. "Maris can look forward to the continued growth of our business as the opportunity for new markets is expanded by the prospective relationship with CenterCore," said Arthur Partridge, chief executive officer of Maris. CenterCore has manufacturing facilities in Plainfield, N.J.; Mansfield, Ohio; Exton, Pa.; and Waterloo, Ontario. CenterCore products are represented by a network of dealers throughout the United States, Canada, Europe and Asia. /deval/ -0- 4/27/93 /CONTACT: Cathy Souders or Mary Stengel of The Tierney Group, 215-732-4100, for CenterCore/ (CCOR JWP SFE)
CO: CenterCore, Inc.; Maris Equipment Company ST: Pennsylvania IN: ENV SU: TNM
MJ-LJ -- PH037 -- 1616 04/27/93 16:47 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Apr 27, 1993|
|Previous Article:||NEW YORK STOCK EXCHANGE CLOSING, TUESDAY, APRIL 27 /PRN/|
|Next Article:||LIBERTY TECHNOLOGIES, INC. POSTS 33 PERCENT INCREASE IN FIRST QUARTER OPERATING RESULTS|