Newlook acquires Forest City Communications
TORONTO, May 29 /CNW/ - Newlook Industries Corp. ("Newlook") (TSXV: NLI) is pleased to announce that it has acquired Forest City Communications Ltd. ("Forest City"), which operates a telecommunications business from its London, Ontario-based retail location. The transaction is subject to regulatory approvals.
Since 1983, Forest City has provided sales, rental and service facilities for two-way radios, trunked compact mobile radios and other telecommunications equipment to a loyal customer base in Southwestern Ontario. The company specializes in customized communication system design and is respected for its focus on customer service. Forest City also owns and operates a fixed wireless network comprised of eight tower sites extending from London to Sarnia and Kitchener, Ontario.
John G. Simmonds, CEO commented, "Forest City provides us with our first retail presence in Ontario. We plan to lever from this acquisition by adding more products and extending our market coverage beyond the present region serviced."
Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information please call (416) 477-5656 or refer to www.sedar.com.
The management of the company, who take full responsibility for its content, prepared this press release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
For more information contact:
John G. Simmonds
Chief Executive Officer
Newlook Industries Corp
Telephone: (416) 477-5656 x301
