Zareba Systems Announces Sale of Assets of Professional Series Automatic Gate Opener Product Line
28 Octobre 2008 - 10:00PM
Business Wire
Zareba Systems, Inc. (NASDAQ:ZRBA) today announced that it sold
substantially all of the assets of the Company�s professional
series automatic gate operator product line to Amazing Gates of
America, LLC for $739,000, plus the assumption of certain
outstanding inventory purchase obligations of the Company. The
purchase price was payable in cash of $200,000 at the closing, with
the balance to be paid through a series of payments through
December 2010. �The Company can now focus exclusively on sales and
support of its Zareba Systems do-it-yourself brand of automatic
gate openers through existing retail channels,� said President and
Chief Executive Officer Dale Nordquist. �This transaction provides
Zareba with a clean exit from the professionally installed
automatic gate opener market, consistent with our previous
announcement that the Company was discontinuing the professional
series automatic gate operator product line.� About Zareba Systems,
Inc. Zareba Systems, Inc. is the world�s leading manufacturer of
electronic perimeter fence systems for animal and access control. A
Minnesota corporation since 1960, the company�s corporate
headquarters is located in Minneapolis, with manufacturing
facilities in Ellendale, Minn. Its Zareba Systems Europe subsidiary
owns Rutland Electric Fencing Co., the largest manufacturer of
electric fencing products in the United Kingdom. The corporate web
site is at located www.ZarebaSystemsInc.com. About Amazing Gates
Amazing Gates of America, LLC ships wrought iron gates and fence to
residential and commercial sites all over the United States. The
company offers hot dipped galvanized steel gates and fence designed
for longevity and simple installation. The company is located in
Bernalillo, New Mexico. More information is available at
www.amazinggates.com.
Zareba Systems (MM) (NASDAQ:ZRBA)
Graphique Historique de l'Action
De Déc 2024 à Jan 2025
Zareba Systems (MM) (NASDAQ:ZRBA)
Graphique Historique de l'Action
De Jan 2024 à Jan 2025
Real-Time news about Zareba Systems (MM) (NASDAQ): 0 recent articles
Plus d'articles sur Zareba Systems, Inc.