STONE MOUNTAIN INDUSTRIES TO ACQUIRE WEST POINT INSURANCE CO.
STONE MOUNTAIN INDUSTRIES TO ACQUIRE WEST POINT INSURANCE CO. STONE MOUNTAIN, Ga., April 13 /PRNewswire/ -- Stone Mountain Industries, Inc. (SMI) has reached an agreement in principle to acquire the capital stock of West Point Insurance Co., a closely held property and casualty company based in St. John's Antiqua. The announcement was made by Roger Tompkins, president and chief executive officer of SMI. The terms were not disclosed. On completion of the transaction, which requires approval by the boards of directors of both companies and the shareholders of SMI, the merged entity will seek to acquire a domestically registered property and casualty insurer. Stone Mountain Industries, Inc. is a publicly traded blind pool. -0- 4/13/92 /CONTACT: Roger Tompkins of Stone Mountain Industries, Inc., 404-296-4222, or Jack Kucera of Equity Communications, 404-998-3396, for Stone Mountain Industries/ CO: Stone Mountain Industries, Inc.; West Point Insurance Company ST: Georgia IN: INS SU: TNM
BR-EA -- AT005 -- 7616 04/13/92 09:38 EDT
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|Date:||Apr 13, 1992|
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