Printer Friendly

PLAYTIME TOYS, INC. MERGES WITH QUALITY PRODUCTS, INC. SUBSIDIARY

 PLAYTIME TOYS, INC. MERGES WITH QUALITY PRODUCTS, INC. SUBSIDIARY
 TAMPA, Fla., Oct. 5 /PRNewswire/ -- Playtime Toys, Inc., ("PTMT" Electronic Bulletin Board) and Quality Products, Inc. (NASDAQ: QYPI) announced the merger of Playtime Toys, Inc. and Q.Y.P., Inc., a wholly owned subsidiary of Quality Products, Inc.
 The merger provides for the exchange of one (1) share of common stock of Playtime Toys, Inc. for one (1) share of post reverse common stock of Quality Products, Inc. Quality Products, Inc., recently announced a reverse split of the corporations common stock on the basis of one (1) new share of common stock for each four (4) shares of common stock of the corporation of record as of Oct. 1, 1992, and effective as of the close of business Oct. 2, 1992.
 Playtime Toys, Inc. is in the business of manufacturing and marketing children's toys, including a unique foam puzzle product line. In March of 1992, Playtime Toys, Inc., entered into an agreement with Turner Home Entertainment for the exclusive license of "The Flintstone Family of Characters." The company uses the Flintstones license to promote and sell their current product line. Playtime Toys, Inc. has its sales and marketing offices located in Scottsdale, Ariz., and owns and operates a 26,000 sq. ft. manufacturing facility located in Fort Smith, Ark. The company sells and distributes its toys and foam puzzles through mass merchandisers, department stores, drug and grocery chains, and exclusive distributors both nationally and internationally.
 Quality Products, Inc., with its principal place of business in Tampa, Fla., and its "Multipress" manufacturing facility in Columbus, Ohio, is in the business of manufacturing and marketing industrial hydraulic bench presses, floor presses, and accessories used with Multipresses. The company is the largest producer of Industrial Hydraulic "C" Frame Presses in the United States. The Multipress products were initially developed in 1931, by the late W.C. Denison and the Denison Engineering Company. Several well known names comprise Quality Products, Inc., customer list including: Allied, Fram, Purolator, Eaton, Honeywell, Ford, Black & Decker, General Motors, West Bend, Bausch & Lomb, 3M, A.T. Cross, and many others.
 Management believes the current corporate and financial condition and production history of Quality Products, Inc., combined with the manufacturing and sales growth potential of Playtime Toys, Inc., through this merger, is in the best interests of both companies and beneficial to their respective shareholders.
 -0- 10/5/92
 /CONTACT: James Renaldo of Quality Products, Inc., 813-963-1300/
 (QYPI PTMT) CO: Quality Products, Inc.; Playtime Toys, Inc. ST: Florida, Arizona IN: MAC SU: TNM


BM -- CL006 -- 6621 10/05/92 13:19 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 5, 1992
Words:431
Previous Article:AMBER'S STORES SALES RISE 43 PERCENT IN SEPTEMBER 1992
Next Article:SPECTRUM SIGNAL PROCESSING REPORTS RECORD ORDERS AND SALES FOR THIRD QUARTER
Topics:


Related Articles
PRODUCERS RELEASING CORP. ANNOUNCES ACQUISITION OF MISTER CROC'S, LTD.
PLAYTIME TOYS INC. ANNOUNCES AGREEMENT WITH TURNER HOME ENTERTAINMENT FOR LICENSE OF 'THE FLINTSTONE FAMILY OF CHARACTERS'
SLM INTERNATIONAL AGREES TO PURCHASE NORCA INDUSTRIES
PLAYTIME TOYS ANNOUNCES THAT ITS FORT SMITH, ARK. FACILITY IS IN FULL OPERATION; APPOINTS MIKE CONGER AS VICE PRESIDENT
PLAYTIME TOYS ANNOUNCES A 2-FOR-1 STOCK SPLIT
QUALITY PRODUCTS, INC. ANNOUNCES STRENGTHENED CONSOLIDATED FINANCIAL POSITION RESULTING FROM RECENT MERGER AND LEGAL SETTLEMENT
QUALITY PRODUCTS EXPANDS PRODUCT LINE WITH ACQUISITION
EMPIRE OF CAROLINA SIGNS AGREEMENT TO ACQUIRE BUDDY L ASSETS
Marvel & Toy Biz Sign Letter of Intent

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters