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Article: ENGlobal Corporation Announces Transaction with Cleveland Inspection Services Inc.
- Article from:
- Business Wire
- Article date:
- October 4, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON -- ENGlobal Corporation (AMEX:ENG), a leading provider of engineering services, today announced that it has signed an agreement for the purchase of selected assets from Cleveland Inspection Services Inc. ("CIS"), a privately held inspection firm with approximately 200 employees nationwide. The agreement, which is subject to customary closing conditions, is expected to close within the next 30 days.
Under the agreement, ENGlobal will purchase certain assets from CIS, including fixed assets and certain contract rights. In addition, ENGlobal will assume certain limited contract obligations of CIS under specific agreements, such as customer contracts and ...