Wtc Industries (NASDAQ:WTCO)
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CUNO Incorporated and WTC Industries Announcement
MERIDEN, Conn., and EAGAN, Minn., July 12 /PRNewswire-FirstCall/ -- CUNO
Incorporated (NASDAQ:CUNO) and WTC Industries, Inc. (OTC: WTCO) (BULLETIN
BOARD: WTCO) jointly announced that the waiting period imposed by the
Hart-Scott- Rodino Act in connection with CUNO's pending acquisition of the
voting securities of WTC expired on Friday, July 9 at 11:59 p.m. Parties have
now satisfied their Hart-Scott-Rodino obligations and this condition to closing
their merger has been accomplished. The special meeting of stockholders of WTC
is scheduled for July 29, 2004 and, if approved by the WTC stockholders and the
other conditions to closing are satisfied, the merger will be consummated
within a few days thereafter.
CUNO is a world leader in the design, manufacture and marketing of a
comprehensive line of filtration products for the separation, clarification and
purification of liquids and gases. CUNO's products, which include proprietary
depth filters and semi-permeable membrane filters, are used in the potable
water, healthcare, and fluid processing markets.
WTC Industries, Inc. designs and manufactures water filtration products for
point-of-use applications.
CUNO and WTC want to provide shareowners and prospective investors with more
meaningful and useful information and, therefore, this press release includes
various comments regarding business conditions and the outlook for CUNO and/or
WTC, which reflect currently available information. These forward-looking
statements are subject to risks and uncertainties which could cause performance
or actual results to differ materially from those expressed herein. Such risks
and uncertainties include, among other things: volumes of shipments of
products; changes in product mix and product pricing; costs of raw materials;
the rate of economic and industry growth in the U.S. and the other countries in
which the parties conduct business; economic and political conditions in the
foreign countries in which the parties conduct a substantial part of its
operations and other risks associated with international operations including
exchange rate fluctuations; CUNO's and/or WTC's ability to protect its
technology, proprietary products and manufacturing techniques; changes in
technology; changes in legislative, regulatory or industrial requirements and
risks generally associated with new product introductions and applications; and
domestic and international competition in global markets. Neither CUNO nor WTC
assumes any obligation to update the information contained in this press
release.
DATASOURCE: CUNO Incorporated and WTC Industries, Inc.
CONTACT: Frederick C. Flynn, Jr. of CUNO, +1-203-238-8847,
; or Greg Jensen of WTC, +1-651-554-3144,
Company News On-Call: http://www.prnewswire.com/comp/126696.html