Versatech USA Announces Letter of Intent and Agreements With LDR International, Inc.
29 7월 2004 - 11:00PM
PR Newswire (US)
Versatech USA Announces Letter of Intent and Agreements With LDR
International, Inc. Proposed Acquisition to Re-Establish
Versatech's Sales And Marketing Operations BELLEVUE, Wash., July 29
/PRNewswire-FirstCall/ -- Versatech USA, Inc. (OTC:VITC) (BULLETIN
BOARD: VITC) , announced today that it had entered into a Letter of
Intent, Confidential Information and Exclusive Rights Agreement
with LDR International, Inc. (LDRI), a printing equipment and
graphic arts products distribution company located in Portland,
Oregon. Under the terms of the agreements, Versatech USA intends to
purchase 100% of the assets and business of LDRI in a proposed cash
and stock purchase transaction, within its exclusive rights period
extending to September 30, 2004. The closing of this transaction is
subject to certain terms and conditions. LDR International, Inc.,
established in 1978, imports and domestically markets printing and
bindery equipment, including: paper cutters manufactured by Itoh;
jogger paper sheet separators manufactured by Kudo; folders and
paper feeders manufactured by Shoei; and multicolor offset printers
manufactured by Shinohara. Through its Fusion Systems International
Division, the company integrates and distributes computerized
printing software, DigiPage(TM) and Color Ray(TM) (software used by
companies such as Ringer AG, Tucker Printers, and the Color Wheel),
that is based on Harlequin Software Technology licensed by Global
Graphics Software Limited, designed for the Macintosh, Linux, and
Unix computer operating system platforms. The Company is also a
licensed distributor for Epson, Hewlett Packard, Apple, and Sun
where it principally markets printers, scanners, computers, and
supplies to the graphics arts industry segment. Ralph W. Johnson
heads LDRI and is a veteran of over 40 years as a supplier of
products and equipment, including computerized printing
installations, to the graphic arts and printing industries. Steve
Krakonchuk, Versatech USA's Chairman, stated, "The association of
Mr. Johnson with the planned acquisition of LDRI business is a
perfect match for Versatech, as it re-establishes its sales and
marketing business operations. Mr. Johnson is a tested veteran
whose addition to the management team will be a positive factor in
the development of our business growth opportunities. LDRI has a
good operating industry niche and the company possesses an
extensive sales and marketing management information systems
infrastructure. Versatech is not only provided the opportunity to
expand its business by adding complementary product lines, but also
is afforded the ability to expand its business operations
geographically, while maintaining stringent operational control."
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21 of the Securities Exchange Act of 1934 and
are subject to the safe harbor provisions of those sections and the
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risk uncertainties,
including those described in our filings with the SEC, and that the
actual results or developments may differ materially from those in
the forward-looking statements as a result of various factors. We
have based these forward-looking statements on information
currently available and disclaim any intention or obligation to
update or revise any forward-looking statement. Versatech USA, Inc.
is headquartered in Bellevue, Washington. For more information
about Versatech USA, Inc., please visit the Company's web site at
http://www.vusainc.com/ . DATASOURCE: Versatech USA, Inc. CONTACT:
Steve Krakonchuk, CEO of Versatech USA, Inc., 1-888-222-9392, or
+1-604-214-9392; or Gene Marbach, Investor Relations of Makovsky
& Co., +1-212-508-9645, , for Versatech USA, Inc. Web site:
http://www.vusainc.com/
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