CPT HOLDINGS COMPLETES ACQUISITION OF HUPP INDUSTRIES, INC.
WASHINGTON, Feb. 9 /PRNewswire/ -- CPT Holdings, Inc. (NASDAQ: CPTH) announced yesterday that it had closed on its acquisition of Hupp Industries, Inc. on Feb. 5, 1993. That transaction involved CPT Holdings acquiring 80.1 percent of the capital stock of Hupp for a cash payment of $2 million. Hupp is a specialty manufacturer of heating and air conditioning equipment and mobile products, including fans, heaters, blowers and defrosters used in light as well as heavy duty truck manufacturing. Hupp also manufactures fractional horsepower direct current motors under the DCM trade name. In the year ended Dec. 31, 1992, Hupp sales aggregated approximately $20 million. CPT Holdings is headquartered in Washington, D.C. CPT Holdings has subsidiaries involved in marketing imaging products that were developed by CPT Corporation and manufacturing steel piercer points, which are used in the manufacture of stainless steel tube products. The common stock of CPT Holdings is listed in the NASDAQ System or NASDAQ Small Cap Market under the symbol CPTH. -0- 2/9/93 /CONTACT: William L. Remley, president of CPT, 202-466-5885/ (CPTH)
CO: CPT Holdings, Inc.; Hupp Industries, Inc. ST: District of Columbia IN: SU: TNM
KH -- MN015 -- 4866 02/09/93 17:13 EST
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|Date:||Feb 9, 1993|
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