Hearthlist Digest #157 - Monday, June 22, 1998
 
Corrected Press Release....
  by "Craig Issod" <[email protected]>
 

(back)
Subject: Corrected Press Release....
From: Craig Issod <[email protected]>
Date: Mon, 22 Jun 1998 18:42:22 -0400
 
Bob Hope did not pass away and.....
 
More Information:					For Immediate Release
Karen OShea, Vice President
Communications and Public Relations
(972) 497-5172
 
 
 
Lennox Issues Correction To Earlier Press Release;
Asset Purchase Agreement Signed To Acquire Superior
 
A recent press release from Lennox Industries announcing the acquisition of
four hearth products companies is not correct, according to Bob Schjerven,
President of Lennox Industries.
We have signed an asset purchase agreement to acquire Superior Fireplace
Company, and have signed non-binding letters of intent for the purchase of
Portland Willamette, a division of Byers Industries, Inc., and the stock of
Pyro Industries Inc., which markets under the name of Whitfield, said
Schjerven.  We also continue to have ongoing negotiations with Marco Mfg.,
Inc.  However, none of these acquisitions have actually been completed at
this time.  We did not intend to mislead anyone in the industry and regret
any confusion the incorrect release may have caused.
As we described last fall, these are simply Lennox next steps in building a
major presence in the hearth products industry.  We look forward to
continuing our plans for growth.
Schjerven and Hearth Products Inc. President Warren Hanselman did confirm
that Lennox Industries Inc. has announced the formation of a new hearth
products subsidiary,
Hearth Products Inc.  a new, wholly-owned subsidiary of Lennox Industries Inc.
	Assuming the completion of our asset purchase agreement with
Superior and successful negotiations with other companies, we will be
pleased to welcome them to our corporate family, said Hanselman.
 
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Craig Issod             HearthNet at http://www.hearth.com
[email protected]    Everything your Hearth Desires
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Buddha says "avoid error"
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