KRUG INTERNATIONAL'S BELDRAY LIMITED ACQUIRES BUSINESS OF DENNISON HOUSEWARES LTD.
KRUG INTERNATIONAL'S BELDRAY LIMITED ACQUIRES BUSINESS OF DENNISON HOUSEWARES LTD. DAYTON, Ohio, June 8 /PRNewswire/ -- KRUG International (NASDAQ: KRUG) announced today that its U.K. housewares business, Beldray, acquired the business of Dennison Housewares Ltd. The main product line of Dennison Housewares is a variety of clothes airers primarily for indoor use. With this acquisition, Beldray, a leading manufacturer of ironing boards, household ladders and domestic wheelbarrows, will strengthen its presence in the home laundry market. For fiscal 1992, Beldray had revenues of $26 million. The acquisition continues Beldray's strategy of acquiring businesses and products that broaden its product lines and fit its existing sales, marketing and manufacturing resources. Over the past years, Beldray has successfully acquired Ryland wheelbarrows, Duroflex loft ladders and the loft ladder and shower screen business of Hardlife Ladder Company. "Beldray's successful product expansion strategy has allowed the company to increase market share and sales volume despite the slow U.K. economy. We are proud of this accomplishment," said Maurice F. Krug, chairman and chief executive officer of KRUG International. Located in the United Kingdom, Beldray manufactures and sells ironing boards, household ladders and wheelbarrows, rotary and indoor clothes dryers and shower screens. Through its three businesses -- Aerospace in the U.S.; Leisure Marine and Housewares in the U.K. -- KRUG International provides government, industry and consumers with a wide variety of products and services. In the U.S., the Aerospace business has been providing technical and professional services to NASA and the Department of Defense for more than 30 years in life sciences research, laboratory operations and biotechnology development. Included in Aerospace is the Alpha Net Division, a network communications company that designs, installs and maintains local and wide area networks for data, voice and video communications with emphasis on fiber optics. In the U.K., KRUG International manufactures housewares and garden products and distributes leisure marine equipment. KRUG International common shares are traded on the NASDAQ National Market System, symbol KRUG; Wall Street Journal OTC National Market issue, symbol KRUG. -0- 6/8/92 /CONTACT: Ellen Geron of KRUG International, 513-224-9066/ (KRUG) CO: KRUG International ST: Ohio IN: ARO LEI SU: TNM
KK -- CL007 -- 7782 06/08/92 09:46 EDT
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|Date:||Jun 8, 1992|
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