Conference unifix::sailing

1850.0. "C&C International Yachts Limited" by EPS::SAMUELSON () Thu Apr 09 1992 09:35

    			PRESS RELEASE
    
    Toronto, Canada. - April 3 / 92
    
    It was announced today by C&C International Yachts Limited, that it has
    acquired for an undisclosed amount, substantially all of the assets of
    C&C Industries Limited.
    
    The assests relate to C&C Yachts based in Niagara-on-the-Lake, Canada,
    the well known manufacturer of state of the art performance and luxury
    yachts which, due to financial difficulties, has been idle since
    January 1991.
    
    C&C International Yacths Limited is a newly formed corporation
    controlled by a group of Hong Kong investors led by Dr. Frank CHao,
    chairman of the Wah Kwong Shipping Group.
    
    Commenting on the purchase of C&C Yachts, Dr. Chao said... "We are
    delighted with this new acquisition and intend to build upon the
    excellent reputation for quality, innovation and design which C&C has
    traditionally been known for, in order to project the business into new
    markets internationally."
    
    The newly appointed President, Mr. Anthony Koo, stated that  he looks
    forward to cooperating with the C&C work force to carry on the business
    at the Niagara-on-the-Lake facility.  Further, he stated he is pleased
    with the positive business climate generated by the Town of
    Niagara-on-the_Lake.
    
    For further information, contact C&C International Yachts Limited in
    Niagara-on-the-Lake, Canada.
    
    Tel 416-468-2101
    Fax 416-468-4743