Escalade, Inc. Acquires 22% of Schleicher & Co. International AG
EVANSVILLE, Ind., Sept. 13 /PRNewswire-FirstCall/ -- Escalade, Inc. (Nasdaq: ESCA) through its wholly owned subsidiary, Martin Yale Industries, Inc., has acquired 21.98% of the outstanding shares of Schleicher & Co. International AG. The Schleicher Group was founded in 1956 under the original Name of DIXI Maschinenbau GmbH in Markdorf / Germany. The company was one of the first producers of data shredders in the world and continues to be one of the leading companies in this business today. In 1989 the company was registered at the Stock Exchanges in Frankfurt and Stuttgart in Germany under the name of Schleicher & Co. International AG (SLI) and the shares are traded actively. Consolidated annual sales of the Schleicher group are approximately US $46 million worldwide. The company manufactures a complete line of data shredders, starting with small Personal Shredders sold under the trademark "Papermonster," and continuing with shredders for the office world under the famous trademark "intimus." "intimus" shredders are used all over the world in small and large enterprises and also in the large administrations and the Government offices and agencies. The high security shredders are used by most Armed Forces and Embassies. The company also manufactures a complete line of large and very powerful shredders for destruction of high volumes as well as complete folders including the metal parts and bound books. Subsidiaries have been established in the USA, United Kingdom, France and Austria. In 1998 Olympia Business Systems Inc. in the USA was purchased. This company sells a variety of office machines under the world-famous trademark "Olympia" in the U.S. Schleicher is represented by well-established Trading Companies in more than 120 countries throughout the world. In 1997 Schleicher set up its own Representative Office in Beijing and in 2001 in Shanghai to better serve the growing Market in the Peoples Republic of China. Affiliated Companies were established in CZECH Republic and India. For several years, Schleicher has purchased and distributed certain Martin Yale products in the U.S., UK and France. In August 2002, Martin Yale and Schleicher signed a sales agreement, allowing Schleicher to distribute Martin Yale products throughout the world and more recently has decided to co-operate to develop products for the worldwide market. The Board of Directors has neither decided for, nor against, any future investment in Schleicher shares. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X41686289
SOURCE Escalade, Inc.
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