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SNYDERGENERAL EXPLORES STRATEGIC ALTERNATIVES

 DALLAS, Sept. 16 /PRNewswire/ -- SnyderGeneral Corporation announced today that it has actively begun exploring a range of strategic alternatives including a potential sale of the Dallas-based private company. SnyderGeneral is a worldwide manufacturer and marketer of air filtration products and heating, ventilating and air conditioning (HVAC) equipment and systems primarily for commercial, institutional and industrial applications with 1992 revenues of approximately $740 million.
 According to SnyderGeneral, the goals of the study are to facilitate the expected growth of the company's business units while additionally maximizing operating flexibility and the liquidity and value of SnyderGeneral's stockholdings. "In light of external and internal factors affecting our core businesses, we have concluded that our leveraged capital structure will increasingly impede our ability to seize emerging market opportunities," said Richard W. Snyder, chairman and chief executive officer of SnyderGeneral. The company has retained The First Boston Corporation to assist in evaluating various alternatives.
 Sales of SnyderGeneral's air filtration equipment and systems, replacement air filters and air pollution control equipment and systems globally sold under the AmericanAirFilter and AAF brand names totaled over $335 million last year. The company's HVAC products are sold under various trade names including McQuay, McQuay/Sanyo, Wesper, BarryBlower, JennFan and AAF. Worldwide sales of these products exceeded $400 million last year.
 "The enforcement of the U.S. Clean Air Act under the Clinton Administration and the worldwide phase-out of ozone-damaging refrigerants (CFCs) is already having a significant impact on our business units worldwide," said Snyder. "Our current debt structure will likely hinder our ability to meet expected rising demand for more efficient and environmentally friendly air quality control products."
 "While I am extremely proud of SnyderGeneral's record over the past 10 years, prospects for manufacturers of efficient, cost effective and environmentally friendly air quality control products in the 1990s will be unparalleled," commented Snyder. "Both of our major business segments will require increased capital investment to facilitate anticipated potential growth, and we accordingly must take appropriate steps to seize this unique opportunity."
 He further added that, "An organization possessing greater financial and other resources would be in a superior position to capitalize upon SnyderGeneral's existing competitive strengths."
 -0- 9/16/93
 /CONTACT: Robert Lloyd Snyder, vice president-corporate development of SnyderGeneral Corporation, 214-754-0500/


CO: SnyderGeneral Corporation ST: Texas IN: SU:

SM -- NY011 -- 2551 09/16/93 08:35 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
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