ARC Group Worldwide Announces Closing of Advanced Forming Technology and Quadrant Metals Technologies Transactions
August 08 2012 - 5:13PM
Business Wire
The board of directors of ARC Group Worldwide Inc. (formerly
known as ARC Wireless Solutions, Inc.) (“ARC”) is pleased to
announce the closing of its combination with Advanced Forming
Technology, Inc., including its operations in Hungary, (“AFT”) and
Quadrant Metals Technologies, LLC (“QMT”). ARC has been renamed ARC
Group Worldwide, Inc. and is now a diversified manufacturing
holding company with operations in Colorado, Florida, Pennsylvania,
Texas, Minnesota, China and Hungary. ARC’s anticipated 1 for 1.95
reverse stock split has also been completed. In connection with
these corporate actions, ARC’s ticker on the NASDAQ Capital Market
has temporarily changed from “ARCW” to “ARCWD”.
“We are delighted at the closing of the transactions and look
forward to the work of integrating our operations with our new
partners,” said Ted Deinard, interim chief executive officer of
ARC.
About ARC
ARC, through its operating subsidiaries AFT, QMT, and ARC
Wireless LLC and ARC Wireless Ltd. (collectively “ARC Wireless”),
is a global diversified manufacturer active in metal injection
molding, flanges, specialty hermetic seals, and wireless equipment.
For more information about ARC, please visit
www.arcgroupworldwide.net.
Forward Looking Statements
This press release may contain “forward-looking” statements as
defined in the Private Securities Litigation Reform Act of 1995,
which are based on ARC’s current expectations, estimates and
projections about future events. These include, but are not limited
to, statements, if any, regarding business plans and integration
efforts related to the just-completed transaction, pro-forma
statements and financial projections, ARC’s ability to expand its
services and realize growth and efficiencies through the
acquisitions discussed herein, merger-related expenses and the
impact of the transaction on ARC’s earnings, market share and
capital position. These statements are not historical facts or
guarantees of future performance, events or results. Such
statements involve potential risks and uncertainties, such as ARC’s
ability to integrate QMT and AFT as planned and the general effects
of financial, economic, and regulatory conditions affecting our
industries. Accordingly, actual results may differ materially.
Neither ARC nor QMT nor AFT undertake any obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. For
additional factors that may affect future results, please see
filings made by ARC with the Securities and Exchange Commission
(“SEC”), including its Annual Report on Form 10-K for the year
ended December 31, 2011 and its Quarterly Report on Form 10-Q for
the three months ending June 30, 2012.
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