|
|
Article: Aduddell Industries Terminates Plans to Acquire the Hayden Companies; Alliance between Companies Continues.
- Article from:
- Business Wire
- Article date:
- August 23, 2007
CopyrightCOPYRIGHT 2007 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)
|
OKLAHOMA CITY -- Aduddell Industries, Inc. (OTCBB: ADDL) today announced that it and the sellers of Hayden Building Maintenance, Inc. and Hudson Valley Roofing, Inc. (collectively "Hayden Companies") have jointly agreed to terminate the agreement under which Aduddell would acquire the Hayden Companies.
Stan Genega, President & CEO of Aduddell noted, "When it became apparent that suitable funding for the $6 million cash portion of the transaction by the year-end deadline would be increasingly difficult to secure, especially in the face of the currently restrictive credit environment, we decided against proceeding further. Like us, our colleagues at the Hayden ...