Bonal International, Inc. Proposed Plan of Merger Not Approved
ROYAL OAK, Mich., March 19, 2013 /PRNewswire/ -- Bonal International, Inc., (OTC: BONL) held a special meeting of the stockholders on March 18, 2013, to vote on the proposed Agreement and Plan of Merger by and among the Company, DePierre Management & Manufacturing LLC and DMM Acquisition Corporation. At the special meeting, the required affirmative vote of the number of shares of Company common stock necessary to approve the proposal was not attained. Accordingly, the Agreement and the Plan of Merger has terminated, and the buyer and the Company have terminated negotiations, said A. George Hebel, III, Chairman.
Bonal International, Inc., through its wholly owned subsidiary, Bonal Technologies, Inc., is the world's leading provider of sub-harmonic vibratory stress relief and weld conditioning technology. Headquartered in Royal Oak, Michigan, Bonal serves the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, mold making, ship building, and welding industries. Bonal's patented Meta-Lax® technology is used for eliminating thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the time, energy, and monetary costs of competing technologies. More information can be found at www.Bonal.com or by calling 1-800-Meta-Lax.
SOURCE Bonal International, Inc.