Quantex Signs MOU with Samlex Europe
04 January 2006 - 6:36AM
Business Wire
Quantex Capital Corporation (PINK SHEETS:QCPC) President and CEO L.
Evan Baergen announced today that management has signed a
Memorandum of Understanding ("MOU") to purchase 51% of the issued
shares of Samlex Europe, B.V. The MOU is non-binding and is subject
to due diligence and financing. "We are thrilled to announce this
major development," said Baergen. "We have seen very positive
results from our purchase of Samlex America last year and the
stellar year that they have had, so when the opportunity to
purchase a stake in Samlex Europe was presented to us there was no
hesitation." Samlex Europe has been a distributor of power
conversion units and related products since 1990. There is no
common ownership with Samlex America. Both companies derived their
name from one of their product suppliers, Samlex Electric, based in
Hong Kong. Samlex Europe was formed by Jacob van Veen, who still
continues to play an important role in the day-to-day operations of
the business. The company is now run and owned by Mr. van Veen's
son, Marcel. "One of the important factors that encouraged us to
sign the MOU was the current ownership and management of Samlex
Europe. The van Veens are not only knowledgeable and professional,
but their eagerness to work together with Samlex America to
capitalize on some very synergistic opportunities was what really
made this deal work. With Samlex Europe's good history of
profitable, strong management and bright future, it was an easy
deal to get done." Quantex and Samlex Europe will work together
over the next few months to sign a binding legal agreement. This
news release may contain forward-looking statements that are based
on management's current expectations, which are subject to known
and unknown uncertainties and risks. This could cause actual
results to differ materially from those contemplated or implied by
such forward-looking statements. Maxxcapp is under no obligation to
update any forward-looking statements contained herein should
material facts change due to new information, future events or
otherwise. The TSX Venture Exchange does not accept responsibility
for the adequacy or accuracy of this release. Quantex Capital
Corporation (PINK SHEETS:QCPC)
Quantex Capital (CE) (USOTC:QCPC)
Historical Stock Chart
From May 2024 to Jun 2024
Quantex Capital (CE) (USOTC:QCPC)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Quantex Capital Corporation (CE) (OTCMarkets): 0 recent articles
More Quantex Capital Corporation News Articles