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J.A. INDUSTRIES ACQUIRES PACIFIC RIM POLYTECH

 NEW YORK, Nov. 30 ~PRNewswire~ -- On Nov. 23, J.A. Industries Inc. acquired the assets of Pacific Rim Polytech Corp., J.A. Industries announced today. Polytech, which successfully produces two product lines, is located in Burnaby, British Columbia, Canada, and has sales revenues for 1992 of approximately $2 million(U.S.). A new wholly owned subsidiary, J.A. Industries (Canada) Inc. has been established to hold the assets and operate the business. Initial monthly profitability is anticipated to be in excess of $30,000(U.S.).
 The terms of the agreement are for $665,000(Canadian) to be paid to Polytech by Feb. 15, 1993, and 25,000 shares to be issued at signing.
 J.A. Industries Inc.'s acquisition of Torik Inc. in September, coupled with the above asset acquisition, gives the company an established consolidated monthly net income in excess of $70,000(U.S.) per month after debt service.
 -0- 11~30~92
 ~CONTACT: J.A. Michie, investor relations, of Tiger-Eye Communications, 604-420-7022, for J.A. Industries~


CO: J.A. Industries; Pacific Rim Polytech Corp. ST: New York, British Columbia IN: SU: TNM

SW -- SE006 -- 4026 11~30~92 09:01 EST
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Publication:PR Newswire
Date:Nov 30, 1992
Words:195
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