KIMBALL COMPLETES PURCHASE OF HARPERS
KIMBALL COMPLETES PURCHASE OF HARPERS JASPER, Ind., Jan. 24 /PRNewswire/ -- Kimball International, Inc.
(NASDAQ: KBALB) announced today it had completed an agreement to purchase Harpers, a manufacturer of metal office furniture located in Torrance, Calif. The agreement was finalized Jan. 23, 1992.
The purchase, financed out of Kimball's working capital, includes the acquisition of Harpers' name, certain operational assets and the assumption of certain liabilities of Harpers. Harpers will continue operations as an independent subsidiary on the west coast. As a privately held corporation, Harpers recorded sales of $52.6 million in its latest fiscal year ended Feb. 28, 1991. Kimball International is a diversified manufacturer of office, healthcare, hospitality and home furniture, as well as television cabinets, electronic assemblies and other products. The company's headquarters are in Jasper, Ind. Kimball reported sales of $555.3 million in its latest fiscal year ended June 30, 1991. Kimball's Class B common stock is traded on the over-the-counter exchange. -0- 1/24/92 /CONTACT: Ken Sendelweck of Kimball International, 812-482-1600/ (KBALB) CO: Kimball International ST: Indiana IN: SU: TNM
KK -- CL001 -- 3149 01/24/92 09:18 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Jan 24, 1992|
|Previous Article:||OKC LIMITED PARTNERSHIP RESPONDS TO INQUIRY REGARDING INCREASE IN UNIT VALUE|
|Next Article:||UNIMED, LECTEC TO PURSUE TRANSDERMAL DEVELOPMENT OF MARINOL|