Printer Friendly

ROADMASTER UPDATES MERGER ANNOUNCEMENT

 ROADMASTER UPDATES MERGER ANNOUNCEMENT
 ENGLEWOOD, Colo., Nov. 6 /PRNewswire/ -- Roadmaster Industries


Inc. (NASDAQ: WHEL) reported that in connection with the previously announced Aug. 7, 1991 Agreement in Principle to combine the company's operations with those of Diversified Products Corp., both parties are continuing their due diligence activities in accordance with the Letter of Intent. Furthermore, Roadmaster announced that it had retained the firm of Hanifen, Imhoff Inc., investment bankers and a New York Stock Exchange member firm to advise the company's board of directors as to the fairness of the proposed transaction.
 The company also announced that Edward E. Shake, has been elected a director of Roadmaster Corp., its wholly-owned subsidiary. Shake, who has been serving as president of Roadmaster Corp. since Feb. 1, 1991 will begin serving on the board of directors effective Jan. 1, 1992. Shake has been associated with Roadmaster since 1974. He has a Bachelors and Masters Degree in Engineering from the University of Tennessee and an AMP Degree from Harvard.
 The company further reported that Roadmaster Corp. continues to report strong results. The open orders for shipment continue at record levels and currently exceed $31 million. The total open order status a year ago was approximately $21.7 million. Furthermore, total revenues for October 1991 are expected to exceed $25 million. In comparison to a year ago, total revenues for October 1990 were $13.2 million.
 Roadmaster Industries operates through its two wholly-owned subsidiaries, Roadmaster Corp. and Hamilton Lamp Corp. Roadmaster Corp. is a leading designer and manufacturer of junior wheel goods, bicycles and health fitness equipment. Hamilton Lamp is a leading manufacturer of lamps and replacement shades.
 -0- 11/6/91
 /CONTACT: Thomas B. Olson of Roadmaster Industries, 303-290-8150/
 (WHEL) CO: Roadmaster Industries Inc.; Roadmaster Corp.; Diversified
 Products Corp. ST: Colorado IN: SU: TNM BB -- DV005 -- 1696 11/06/91 12:15 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 6, 1991
Words:309
Previous Article:PETROLEUM OPEN SOFTWARE ANNOUNCES ELECTION OF CHAIRMAN OF THE BOARD
Next Article:REPUBLIC NEW YORK $150 MILLION SUBORDINATED NOTES RATED
Topics:


Related Articles
ROADMASTER COMPLETES REAL ESTATE SALE PART OF DELEVERAGING PLAN SAYS COMPANY
ROADMASTER INDUSTRIES COMPLETES RECORD YEAR COMPANY SAYS IT EXPECTS FURTHER INCREASE FOR 1992
ROADMASTER CONTINUES STRONG PERFORMANCE INTO 1992 JANUARY 1992 IS THE FIRST PROFITABLE JANUARY IN THE COMPANY'S HISTORY
ROADMASTER FORECASTS RECORD 1992 REVENUES COMPANY AND DP END MERGER NEGOTIATIONS
ROADMASTER REPORTS RECORD MID-YEAR RESULTS; SALES INCREASE BY 34 PERCENT AND EARNINGS FOR SIX MONTHS REACH 4 CENTS PER SHARE
ROADMASTER TO REPURCHASE SHARES
ROADMASTER COMPLETES AMERICAN PLAYWORLD ACQUISITION
ACTAVA GROUP ANNOUNCES AGREEMENT TO COMBINE ITS SPORTING GOODS COMPANIES WITH ROADMASTER INDUSTRIES, INC.
BRUNSWICK ANNOUNCES AGREEMENT TO PURCHASE ROADMASTER BICYCLE BUSINESS
Brunswick Completes Roadmaster Bicycle Acquisition

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