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Article: Forward Industries Agrees to Sell Advertising Specialties Business.
- Article from:
- Business Wire
- Article date:
- September 22, 1997
CopyrightCOPYRIGHT 1997 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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WEST HEMPSTEAD, N.Y.--(BUSINESS WIRE)--Sept. 22, 1997--Forward Industries Inc. (NASDAQ: FORD) announced today that the company has entered into an agreement to sell, by way of an asset sale, its advertising specialties business to Amplaco Group Inc. for an aggregate consideration of $1,350,000, including a portion of secured debt.
The agreement contemplates that Amplaco will acquire certain assets of Forward relating to the advertising specialties business, and assume certain liabilities. The transaction is conditioned upon, among other things, negotiation and completion of a definitive sublease agreement and security documentation with respect to the portion ...