Unifirst Holds Ribbon Cutting Ceremony For New High Tech Industrial Laundry Facility In Santa Fe Springs, Calif.

LOS ANGELES— January 15, 2019 — UniFirst Corp. — a North American provider of customized work uniform programs, corporate attire, and facility service products — is hosting a ribbon-cutting ceremony on Wednesday, January 30, 2019, at 11:00 a.m. to celebrate the opening of its new 73,000-square-foot, state-of-the-art industrial laundry plant at 13123 Rosecrans Ave. in Santa Fe Springs, Calif. The new facility has created more than 100 jobs to service businesses in the Greater Los Angeles area.

The new plant, which features the latest innovations in textile services technology and automation, was developed to accommodate the rapidly growing customer base in Greater Los Angeles, Long Beach, Newport Beach, Anaheim, and surrounding areas. It provides local businesses with managed service programs for uniforms and workwear, as well as facility service products, including floor mats and mops, wipers and towels, and restroom and ancillary products. UniFirst had previously serviced area customers from its smaller-sized branch facility in Norwalk, Calif., which employed 55 people, most of whom relocated to the new facility.

“Our LA plant is an engineering showpiece,” says UniFirst president and CEO Steven Sintros. “The new facility features latest technologies and high-tech processing systems that are among the most advanced in the textile service industry. This will allow us to continually improve our managed uniform programs for our customers’ benefit, so they consistently receive the very best services possible.”

Spanning 3.57 acres, the new plant also has an eye on the “greener” side. The new UniFirst facility supports greater energy efficiency through investments that include heat reclaiming equipment, latest-generation warehouse lighting, and contemporary rooftop HVAC units. All cleaning formulas and detergents are 100% environmentally friendly and natural light throughout the plant offers a positive employee boost to the workday.

“We’re extremely excited to bring this world-class operation to the Greater Los Angeles market,” said the new plant’s general manager, Anthony Ortega. “Our L.A. operation is the culmination of all the technological advancements we’ve made over the years, serving as a model for new UniFirst servicing operations to come, and reinforces our ongoing commitment to quality, efficiency, and industry-leading customer service. It also represents UniFirst’s long-term commitment to the local business community, the surrounding regions, and the state of California.”

Posted January 15, 2019

Source: UniFirst Corp.

MagnaColours® Launch BluePrint Campaign

BARNSLEY, England — January 15, 2019 — Manufacturer of water-based screen-printing inks MagnaColours® will launch a brand-new initiative at the upcoming ISS Long Beach exhibition. The MagnaColours BluePrint campaign will be introduced at the show, a corporate sustainability partnership between Magna and ocean conservation charity Just One Ocean. Magna’s support and donations to the charity will contribute to valuable research into pollution, the threat of microplastics to wildlife and human health and how industry can work towards cleaner oceans. The aim of the project is to raise awareness of global ocean pollution and the impact of unsustainable manufacturing processes from the garment industry.

Just One Ocean was founded by David Jones in 2014, an environmentalist, researcher, diving specialist and speaker. Having travelled the world as a diver and an underwater photographer, David saw for himself the devastation that the human race was having on the environment and oceans in particular. About the partnership with MagnaColours, he said, “As a UK conservation charity having the support of business and industry is important to us.  We are proactively undertaking research and raising awareness of ocean issues, but we need help from a wide range of organizations to do that.  However, it is also important to us that we forge relationships with organizations that not only reflect our goals and objectives, but also contribute in some way to making the planet and the oceans potentially a better place.  Sustainability is key to that and we are therefore delighted to have partnered with Magna Colours Ltd.”

Magna’s support for the charity will initially contribute to two key research projects, the Big Microplastic Survey: a unique science programme gathering data about the scale and distribution of the global microplastic issue. And an expedition to the Northwest passage in 2019, focusing on gathering data from the arctic circle on the impact of anthropogenic activities involving students from UK and EU universities to undertake experiments and bring back information.

As water-based ink manufacturers for the textile screen-printing industry, MagnaColours has a history of sustainability initiatives and innovative environmentally sensitive product ranges, often industry-firsts. In 2017, Magna launched GNA®, its universal certificate of compliance and sustainability that meets the customer demand to significantly reduce the amount of hazardous and environmentally damaging chemicals from the garment-printing industry.

About their brand-new BluePrint programme, Chairman and Owner of MagnaColours Tom Abbey said, “By choosing MagnaPrint® inks, screen-printers and brands can reduce their impact on the environment through eradicating harmful chemicals, reducing unnecessary ink consumption and increasing their production efficiency. As we continue to develop even more sustainable screen-printing inks, with the BluePrint campaign we are also positively supporting the health of the earth’s oceans.”

Posted January 15, 2019

Source:  MagnaColours®

Nominations For 2019 Industry Awards Accepted At TRSA Website Through February 1

ALEXANDRIA, Va. – January 15, 2019 – Nominations for TRSA corporate awards are due February 1. Members can win industry-wide recognition of their own exemplary business practices by nominating themselves or honor other companies’ achievements and excellence by nominating them. The program provides for multiple winners in each award category with Operators (linen, uniform and facility services companies) and Associates (suppliers) eligible for each.

Members are encouraged to visit www.trsa.org/awards to learn how Operators and Associates (headquarters or branch locations) may qualify for each award and nominate using the forms on the website:

  • Above and Beyond Service
  • Clean Green Innovation
  • Company Community Service (individual, team or company award)
  • Diversity Recognition
  • SafeTRSA Safety Excellence
  • Volunteer Leadership (individual)

Awards will be presented at TRSA’s 9th Annual Legislative Conference, March 27-28, 2019, in Washington, DC. Receiving a TRSA corporate award distinguishes an operation with customers and employees and recognizes the latter for exceptional teamwork. Two representatives of each company that wins an award will receive complimentary registration for the Legislative Conference, including seats at the Awards Dinner there. Other attendees from the winning company will receive a 50% discount on the registration fee, which includes a dinner seat.

As the only organization for local, regional, national and international Operators serving all types of businesses, TRSA draws upon the widest range of expertise in the linen, uniform and facility services industry, reflected in these awards’ credibility. TRSA is an unparalleled authority in evaluating company excellence, including innovations, social and environmental responsibility programs, employee satisfaction and well-being efforts, and customer-service focus.

Award winners leverage this credibility by announcing the TRSA honor to their communities, customers and prospects. This promotes the business and elevates its brand as an employer to attract talent. TRSA supports such promotion by informing local and national media of the honors bestowed to each company.

Winners gain well-deserved recognition, joining an exclusive group of high achievers who won the same award(s), positioning the new winners in prestige alongside past honorees. Such industry affirmation helps winners create inroads in the industry leading to improved networking and information sharing.

A TRSA award also is an instant morale boost for employees, as they receive industry-wide validation of their hard work.

Posted January 15, 2019

Source:  TRSA

Lectra Strengthens Its Executive Committee

PARIS – January 15, 2019 – Lectra is strengthening its Executive Committee to accelerate the implementation of its Lectra 4.0 strategy, initiated in early 2017, with the objective of becoming a key player in the Industry 4.0 market.

Lectra’s 2017-2019 strategic roadmap, the first step in the company’s transformation, has five objectives: accelerate revenue growth, both organic and through targeted acquisitions; accentuate its technological leadership to further enhance the value of its products and services offer; strengthen its competitive position and long-term relationships with customers; progressively launch new software offers in SaaS mode; and self-finance its internal and external development.

To empower its customers in implementing the
principles of Industry 4.0, Lectra has, over the past 
three years, significantly increased investments in the design and development of new product lines and in complementing its existing software and cutting solutions. The company relies mainly on four key technologies: Big Data, Artificial Intelligence, the Industrial Internet of Things and the Cloud. Lectra’s first Industry 4.0 offers were launched in 2018 in some countries as a pilot and will be progressively rolled out worldwide in 2019.

Until now, Lectra’s Executive Committee was composed of Daniel Harari, Céline Choussy, Edouard Macquin, Jérôme Viala and Véronique Zoccoletto. In order to accelerate the execution of its strategy, the group has decided to review the organization of its subsidiaries, refocus efforts toward Customer Success, and expand its Executive Committee, which remains under the chairmanship of Daniel Harari, chairman and CEO.

Jérôme Viala, executive vice president, is now vice-chairman of the Executive Committee, with increased responsibilities on subsidiary operations, while maintaining his current duties.

Lectra’s subsidiaries are newly organized into four main regions. The purpose is to better adapt the Lectra 4.0 strategy to Lectra’s different markets, accelerate business development and strengthen synergies within each geographical area. The new regions are Americas, led by Edouard Macquin; Asia-Pacific, led by Javier Garcia; Northern & Eastern Europe, Middle East, led by Holger Max-Lang; and Southern Europe & North Africa, led by Fabio Canali. Fabio Canali, Javier Garcia and Holger Max-Lang join the Executive Committee.

To be even closer to its customers’ needs and guarantee optimum use of its solutions, Lectra has created the position of chief customer success officer, headed by Laurence Jacquot, who joins the Executive Committee.

Maximilien Abadie, chief strategy officer, becomes a member of the Executive Committee, with the mission to support the implementation of the Lectra 4.0 strategy within the group’s teams and prepare the 2020-2022 strategic roadmap.

Olivier du Chesnay, CFO, joins the Executive Committee with the objective to strengthen the fundamentals of Lectra’s economic model.

Céline Choussy, chief marketing & communications officer, will have as her main mission to ensure the launch and development of new offers.

Véronique Zoccoletto, chief transformation officer, will focus on escalating Lectra’s ongoing digitalization and use of the four key technologies.

“Our growth plan is ambitious and we had to put in place a structure that enables us to quickly achieve our objectives. The new dynamic of our regions, together with the creation of a dedicated Customer Success team, will further strengthen the intimacy we share with our customers. I have worked for a long time with each member of this new Executive Committee, and I have admired and appreciated over the years their passion for Lectra and the depth and range of their talents. We have a more robust and cohesive management team in which I have every bit of confidence to take Lectra to a new and important stage in its development,” said Daniel Harari.

Posted January 15, 2019

Source:  Lectra

Durst Strengthens Large Format Printing Division With New Dual Leadership, Central Management

BRIXEN, Italy – January 15, 2019 – Durst, manufacturer of advanced digital printing and production technologies, is expanding its high-revenue Large Format Printing (LFP) segment with a new leadership. Previously, the segment was divided into the areas of web-fed printing in Brixen and flatbed printing at the Lienz production site. With the introduction of the P5 technology platform and the future development of hybrid printing systems, the historically grown structure will be dissolved in favor of better efficiency in the daily dealings with Durst customers and the business unit will be controlled from the Durst headquarters in Brixen, northern Italy.

The new dual leadership will be formed by experienced Durst managers Christian Harder and Andrea Riccardi. Both employees have been with the company for more than 20 years and have helped shape the evolutionary stages of Durst inkjet technology in all its facets. As the new global sales director, Harder has cross-segment know-how and has been responsible for successful worldwide sales management for Ceramics Printing in recent years. Prior to that, he was responsible for sales in Eastern Europe and Latin America in the LFP segment. Riccardi, as the new head of Product Management, worked for many years in direct sales in the important LFP market Italy and since the end of 2016 has been responsible for the product portfolio in LFP web printing and the further development in Soft Signage/Fabrics Printing.

“The reorganization in the LFP segment brings together the building blocks we set in 2017 with the introduction of the P5 technology platform, the expansion of the Lienz and Brixen customer centers and the new headquarter in Brixen,” said Christoph Gamper, CEO of the Durst Group. “The new dual leadership has my fullest confidence and the best prerequisites for further developing the segment and consolidating our position as market leader. By concentrating the management function in the Group, we are also paving the way for optimal networking and integration with the relevant areas in development, software and services. The Lienz location will also benefit from the cross-segment technology transfer.”

Posted January 15, 2019

Source:  Durst

Management Changes At TANATEX Chemicals With A New CEO, CFO, And CTO

EDE, Netherlands – January 15, 2019 – The Board of TANATEX Chemicals, saw several changes commencing January 1, 2019. With a new CEO, Jørgen Vendel, CFO, Calvin Qiu, and CTO, Paul Oude Lenferink, a new era starts for the company

Tanatex was formed in 2007 following a management buyout of the company from Lanxess. Over the past 11 years, it has developed a robust, sustainable textile processing chemicals business. The company became part of the Transfar Group in 2016. After 11 years as frontmen for the successful company, CEO Marco de Koning and CFO Arthur Hopmans decided  to depart Tanatex Chemicals end 2018 and give room to new ideas. They leave the company in the trusted hands of former CCO Vendel.

“The past 11 years with Tanatex have been a highly rewarding and exciting journey,” said de Koning. “Our aim was to build an international textile chemical company which offered solutions instead of mere products. With the talent and enthusiasm of all the people in the company, that is exactly what we have done. My passion for our business remains as strong as ever and it is with pride that we hand over the reins to our new team who will bring their own vision and enthusiasm to take the company on to the next stage in its development.”

Vendel joined Tanatex early 2017 as CCO  and now makes the move to CEO. He has extensive experience in the global chemicals industry, having held local and international senior management roles at The Linde Group and BP Oil. The role of CCO will continue to be fulfilled by Vendel for the time being.

“I am looking forward to build on the considerable achievements of the past,” Vendel said. “When I joined the company, it was the start of a new adventure for me, one which has proved exciting, challenging and deeply fulfilling. In the years ahead, we will continue this adventure together with the great team of Tanatex and Transfar, continually striving to exceed expectations in a world where environmental awareness is growing.”

Calvin Qiu has been working during the past 18 years for multinational companies including China Eastern Airlines, Cisco Systems, Shell and, most recently, AkzoNobel in various senior global business and financial roles. Calvin brings to the company a unique combination of financial expertise and commercial acumen with a background across China and the Netherlands, both professionally and culturally

“I am excited to join Tanatex and take upon this unique opportunity to grow Tanatex business together with colleagues, partners and customers from Tanatex and Transfar,” Qiu said. “I look forward to taking part in this journey and will strive to unlock the value for stakeholders including employees, customers and shareholders”

In the continued pursuit of the strategic objectives of Tanatex, the role of Chief Technology Officer (CTO) has been elevated to board level recognizing the importance of technological competence, innovation focus and product stewardship. Paul Oude Lenferink has been appointed CTO as of January 1, 2019. Lenferink has been responsible for R&D and technology developments during the last eight years within Tanatex Chemicals, and has extensive experience in the chemical industry.

Posted January 15, 2019

Source:  TANATEX Chemicals B.V.

Haggar Clothing Co. Launches Pant Line For Boys

DALLAS – January 15, 2019 – Haggar Clothing Co. has launched a line of pants for boys this winter, featuring four styles all made with eco-friendly REPREVE® fiber created from recycled water bottles.

The new boys line is the latest in Haggar’s award-winning sustainable offerings. In 2018, Haggar received the inaugural Repreve Champions of Sustainability award for using over 100 million recycled plastic bottles in its Life Khaki, E-CLO™ Stria & Premium Comfort Dress Pant lines.

In addition to sustainability, the Haggar™ Boys line (starting at $24.99) offers unique comfort features that help active kids easily move throughout the day from playground to classroom to after-school activities. Features include reinforced knees for durability, stretch fabrics that move with them and industry-leading comfort waistbands that flex for better fit and comfort.

The entire boys line is available in Slim and Regular fits in sizes 4–20 and includes:

  • Cool 18® Pro Boys Flat Front pant in black, tan and heather gray;
  • The Jogger Boys Flat Front pant in khaki, black and navy;
  • Premium No Iron Khaki Boys Flat Front pant in black, navy and sand; and
  • Sustainable Chino Boys Flat Front pant in khaki, black and navy.

“The new Haggar Boys line is perfect for parents looking for comfortable, durable clothes in current, on-trend styles and colors their sons will want to wear, whether as part of a school uniform or for any occasion where they need to be a little more put-together than just jeans,” said Haggar Chief Sourcing and Merchandising Officer Tony Anzovino. “Many parents today are focused on environmentally friendly products, and the fact that our boys line is made with sustainable fabrics really sets it apart.”

The line is available on Haggar.com, JCPenney.com, Bealls.com, Boscovs.com, Stage.com and Amazon.

Posted January 15, 2019

Source:  Haggar Clothing Co.

IDEA®19 Website Registration Open For Nonwovens & Engineered Fabrics On Display Miami Beach, Fla., March 25-28, 2019

CARY, N.C.  – January 15, 2019 – INDA, the Association of the Nonwoven Fabrics Industry, announces the idea2019.com website is open for registration to attend IDEA®19, the triennial global event for the nonwovens & engineered fabrics industry to be held at the Miami Beach Convention Center in Miami Beach, Fla., March 25-28, 2019.

The event is expected to attract more than 7,000 attendees and over 500 exhibitors from 70 plus countries across the spectrum of nonwovens and engineered fabric sectors from hygiene, medical, and filtration to automotive, geotextiles, building, construction, and home furnishings — to conduct business with current and prospective customers.

Highlights of the event include daily market intelligence sessions where industry experts present actionable data, key drivers and educated insights for business opportunities in critical regions. Experts include:

  • CHINA:  Chuanxiong (Eric) Zhang, Ph.D., Secretary General, China Nonwovens and Industry Textiles Association (CNITA) – The Nonwoven Markets of China 

SOUTH AMERICA: Francisco Tascón, Product Marketing Manager, South America, Berry Global, Inc. – The Disposable Hygiene Markets of South Americ
  • NORTH AMERICA: Brad Kalil, Director of Market Research & Statistics, INDA – Global Industry Statistics
  • ASIA:  Dr. Hiroaki Kanai, President, Kanai Juyo Kogyo Co., Ltd. and ANFA Chairman. – The Nonwoven Markets of Asia
  • EUROPE: Pierre Wiertz, General Manager, EDANA – The Nonwoven Markets of Greater Europe

Other highlights of the event include the presentation of the prestigious IDEA19 Lifetime Achievement Award to honor an individual who has given his or her best both personally and professionally to serve INDA and the industry, and the IDEA Achievement Awards organized by INDA in partnership with Nonwovens Industry Magazine. The IDEA Achievement Awards occur every three years in conjunction with IDEA to honor leading companies and new products (since IDEA16) in the global engineered fabrics industry in six categories: equipment, roll goods, raw materials, converted products (short-life), and converted products (long-life), and entrepreneur. Finalists will be announced Feb. 1, 2019.

The IDEA16 Lifetime Achievement Award was presented to Leo Cancio, advisor at Clopay Plastic Products. IDEA16 Achievement Award Winners included:

  • Machinery/Equipment: 
ITW Dynatec’s Ultra Strand Coating System;
  • Fibers/Raw Materials: 
BASF’s SAVIVA™ SAP Technology;
  • Roll Goods: 
Jacob Holm’s SoftLite™ lightweight nonwovens;
  • Short-Life Converted Product: 
WipeMeWorld’s WipeMe® flushable wipe on a roll;
  • Long-Life Converted Product: 
Impossible Objects, LLC’s Composite-Based Additive ;Manufacturing (CBAM) 3D printed pieces; and
  • Entrepreneur: 
Mogul Nonwovens and Diaper Recycling Technology/MobiAir.

“We return IDEA to a fully modernized facility in Miami Beach that will make this event a most memorable experience.  We’ve had a great response to our triennial global event and exhibit space sales have already been brisk,” said Dave Rousse, INDA president.

Posted January 15, 2019

Source:  INDA, the Association of the Nonwoven Fabrics Industry

Shaw Industries Ranks Among Forbes’ List Of America’s Best Employers For Diversity 2019

DALTON, Ga.  – January 15, 2019 – In recognition of Shaw Industries Group Inc.’s (Shaw) commitment to and investment in promoting a corporate culture of diversity and inclusion, Forbes Magazine has named Shaw as one of “The Best Employers for Diversity.”

In collaboration with analytics firm Statista, Forbes identified The Best Employers for Diversity through an independent survey of more than 50,000 U.S. employees working for companies employing at least 1,000 people within its U.S. operations. The evaluation was based on four different criteria, with the 500 companies receiving the highest total scores selected as the “The Best Employers for Diversity 2019.” Criteria included:

  • Direct recommendations from employees regardless of age, gender equality, ethnicity, disability, LGBTQ+ and general diversity concerning their own employer.
  • Indirect recommendations: participants were given the chance to evaluate other employers in their respective industries that stand out either positively or negatively with regard to diversity.
  • Diversity among top executives / board: Based on extensive research an index was built based on the share of women who fill top executive or board positions.
  • Diversity KPIs: An index of objective and publicly available diversity KPIs (e.g. existence of a department/position responsible for diversity, proactive communication of diverse company culture) was created.

“Shaw’s talent management strategy places investment in our 22,000 associates at the core of the company,” said Mike Fromm, chief human resource officer at Shaw. “We strive to foster an environment where diverse perspectives and ideas are heard, and value is placed on both seen and unseen characteristics and experiences that our associates bring to the organization. Diversity and inclusion are necessary for innovation and growth, allow us to better understand our customers and their needs, and position us to attract and retain the best talent.”

Lucia Cook, corporate diversity and inclusion leader at Shaw, stated, “This ranking is an indication that we are headed in the right direction with our strategy and actions. Shaw’s commitment to cultivating  an inclusive and diverse corporate culture is supported by a number of initiatives that reach associates at all levels of the company in an effort to spark growth for our people and our business.”

The Shaw Way, a multi-faceted strategy touching all aspects of business enterprise-wide, was developed around the company’s talent competency model, which drives the leadership imperatives necessary for success. The model is aligned with all talent processes from selection and performance management to leadership development and recognition. Demonstrating inclusive leadership is a key talent competency expected at every level of our organization.

Shaw’s diversity and inclusion efforts are continually shaping new talent acquisition and retention practices to reduce unconscious bias in the hiring and promotion process, including associates from all backgrounds in key business decisions, and educating its associate base on cultural fluency.

In addition to ongoing training and education, key initiatives include:

  • Shaw’s Supplier Diversity Policy helps make a positive difference in the communities we serve by providing all suppliers with equal access.
  • Associate-led Resource Groups (ARGs) drive engagement within the company by connecting associates with both similar and different perspectives. Open to all Shaw associates, ARGs focused on the needs and interests of women, Hispanic and Latino, black and multicultural, veterans, and sales have connected thousands of associates with networking and professional development opportunities.
  • Shaw formed the first bilingual Toastmasters group in Georgia.
  • Shaw partners with Project SEARCH to offer an internship program for young people with intellectual and developmental disabilities.
  • Future Workforce Development efforts partner with community and educational programs focused on STEM (Science Technology Engineering and Math) skills and career opportunities. Shaw has a number of programs keenly focused on showcasing STEM careers to underrepresented populations through mentorship, coaching and skills training.

Posted January 15, 2019

Source:  Shaw Industries Group

12 ReTech To Acquire Red Wire Group To Increase The Manufacturing Capability And Revenue Of Its Emotion Fashion Group Subsidiary

LAS VEGAS/HONG KONG — January 14, 2019 — 12 ReTech Corp. announced today that it has signed a definitive Exchange of Equity Agreement to acquire Salt Lake City-based Red Wire Group LLC (Red Wire) in a stock for stock transaction. Closing is scheduled to occur before the end of this month.

Red Wire is a profitable and efficient contract cut-and-sew manufacturer generating significant revenue and is located less than 100 yards from the company’s Emotion Fashion Group (EFG) facility. Red Wire Group has maxed out its own existing facilities capacity and can benefit from the excess capacity that EFG currently possesses.

Angelo Ponzetta, 12 ReTech’s CEO, stated: “We believe that Red Wire is very synergistic to our current EFG operation. In addition to the revenue and profits that Red Wire brings to the group we add efficiency and expertise to continue to drive down our production costs that began with our relocation of EFG from Los Angeles to Salt Lake City. This extra capacity and efficiency will allow Red Wire to take on many more jobs that should catapult its revenue from its current $650,000 to three to four times that annually, while increasing our margins.”

Hub Blanchett, president of EFG, stated, “Being acquired by 12 ReTech was just the catalyst for future acquisitions. I am thrilled to team up with Red Wire. Their production team is outstanding and will allow our team to focus on revenue growth and delivery fulfillment.”.

Ponzetta continued: “We have been working on this acquisition throughout the holiday season and while we executed non-binding Letters of Intent we decided to wait until the signing of the Exchange Agreement to announce this news as our past experience with acquisitions has taught us that Murphy’s law typically applies at the signed Letter of Intent stage”.

Greg Haehl, managing member of Red Wire, commented: “I am excited to become part of 12 ReTech team. Being a technology expert myself, I have seen what they are doing to help retailers improve themselves. The technology that is available at 12 ReTech is very exciting and I plan to lend my own expertise to their efforts. At the same time, Red Wire’s capabilities will help EFG’s own manufacturing floor operations and their extra capacity will allow us to substantially grow our own business.” He continued, “I have seen first-hand the commitment and assistance the whole 12 ReTech Team brings to every acquisition and this strongly influenced our decision to be acquired.”

Ponzetta added, “We have been informed that due to our current stock price OTC Markets intends to shortly remove us from their QB group. They have indicated that once our stock reaches and maintains the mandatory $0.01 threshold price for 10 days it’s a simple matter to regain the QB status. Historically, the QB designation hasn’t yet really benefitted our investors but the reporting requirements which we maintain as a QB stock will continue to be maintained. We are optimistic that with the important acquisitions we are closing, the investing public will view our Company more favorably and our stock should respond accordingly, allowing us to be re-certified as a QB stock.

“The target date for the completion of this acquisition is on or about January 23, 2019. The closing of this transaction is still subject to completion of due diligence and a few other details. Red Wire acquisition coupled with EFG acquisition provides us with a strong operating base for additional acquisitions we hope to announce soon.

Posted January 14, 2019

Source: 12 ReTech Corp.

1...1,3391,3401,341...2,649Page 1,340 of 2,649

Sponsors

Breaking News

Load more

Digital Issue

2026 Quarterly Issue II

View Latest Digital Issue

FEATURED ARTICLES

© Copyright 2017 Textile Industries Media Group, LLC.