Printer Friendly

Maxco Increases Equity Investment in Strategic Interactive; Cites High-Tech Company's Success and Prospects in Internet/Intranet Training.

LANSING, Mich.--(BUSINESS WIRE)--Oct. 2, 1997-Maxco Inc. (NASDAQ/NMS:MAXC) announced today it has acquired an additional 30 percent equity stake in technology-based training and education provider Strategic Interactive.

Maxco, a Lansing, Mich.-based holding company, said it paid an undisclosed amount of cash to bring its total equity position to 45 percent ownership of the privately held company. Maxco acquired its initial 15 percent position in Strategic Interactive in January 1997.

"We continue to be pleased with the progress Strategic Interactive is achieving in building awareness and market share in the emerging on-line training market," Maxco Chairman Max A. Coon said. "Our decision to invest further in the company reflects this growth, as well as our confidence that Strategic Interactive will continue to create significant value for Maxco and our shareholders in the future."

Based in East Lansing, Mich., at Michigan State University, Strategic Interactive (http://www.siweb.com) provides internet and intranet-based training and education for companies such as Ford, General Motors and Dow Chemical. Strategic Interactive is also a provider of content for distance learning to the Michigan Virtual Automotive College, a not-for-profit corporation specializing in delivering post-secondary education for auto workers. The company, which employs approximately 40 people and has been profitable since its inception, is currently operating at a $5 million sales rate.

Maxco will continue to report on its stake in the two-year old training company as an equity investment on its balance sheet.

A diversified holding company, Maxco's businesses include Ersco and Wisconsin Wire & Steel, construction supplies distribution units; Pak-Sak Industries Inc., which makes polyethylene packaging; and Atmosphere Annealing Inc., a production metal heat-treating service company. Maxco also holds investments in a real-estate development limited liability company, and in other technology-related businesses: Medar Inc. (NASDAQ/NMS:MDXR) and AXSON, S.A.

CONTACT: Maxco Inc., Lansing

Max A. Coon or Vincent Shunsky, 517/321-3130
COPYRIGHT 1997 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Oct 2, 1997
Words:311
Previous Article:Accolade Features Two Top Bands on Test Drive 4 Soundtrack; Orbital and The Younger, Younger 28's Included on Fall Release.
Next Article:Scorpion Minerals Inc. Miing Initial Drill Results Confirm Gold-Rich Porphyry Copper Mineralization.
Topics:


Related Articles
U S WEST Interactive Services Invests in VDOnet; Internet Video Gets Boost from Two Investments in One Day.
CMG reports first quarter fiscal 1997 operating results; Sales increase 82 percent.
Financial Intranet and Siemens Pyramid Information Systems announce memoranda of understanding on delivery of Financial Intranet's On Demand...
Centra Software and CBT Systems Announce Strategic Partnership.
Wang Global Awards Three-Year Online Learning Contract to CBT Group's Scholars.com Subsidiary.
Kiket Online Learning Centers Announces Strategic Partnerships with Leading Technology Companies Netpodium, Inc., and 2WAY Corporation, to Facilitate...
TrainingNet Inc. Raises $33.7 Million in Third Round of Venture Capital Funding, Solidifies Lead as Premier B2B E-Commerce Marketplace in $98 Billion...
LINQware.com Announces Strategic Alliance with One of the Nation's Largest Providers of Bandwidth Services to Businesses in Support of Microsoft's...
Crossing the border.
DigitalThink UK Introduces New Performance Solutions for Sales/CRM, Marketing and Human Resources.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters