KMC, WORTH MAY COMBINE ENTITIES
KMC, WORTH MAY COMBINE ENTITIES SAN JOSE, Calif., Dec 12 /PRNewswire/ -- KMC Enterprises Inc.
(NASDAQ: KMCI) and Worth Corp. (NASDAQ: WRTH) today announced that the companies are exploring a possible combination of the entities. Committees of the boards have been formed to consider whether a combination of the companies is in the best interest of their respective shareholders and the form and terms of any such combination.
KMC Enterprises Inc.'s principal asset is ownership of 62 percent of Krause's Sofa Factory, a combined manufacturer and retailer of made-to-order upholstered furniture. Worth Corp. currently holds 68 percent of the outstanding common stock of KMC Enterprises Inc. and 18 percent of Mr. Coffee Inc. (NASDAQ: JAVA). -0- 12/12/91 /CONTACT: Robert G. Sharpe for KMC Enterprises Inc., 408-436-7467/ (WRTH KMCI) CO: KMC Enterprises Inc.; Worth Corp. ST: California IN: REA SU: TNM
RM -- SJ001 -- 2044 12/12/91 14:59 EST
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|Date:||Dec 12, 1991|
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