Business Services Industry
Ocean Bio-Chem Inc. acquires 20-acre manufacturing operation
Business Wire, Feb 9, 1996
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 9, 1996--Ocean Bio-Chem Inc. (NASDAQ: OBCI) today announced that it has signed an agreement to acquire a fully automated state-of-the-art chemical mixing facility which includes plastic bottle manufacturing, warehousing and storage located in Montgomery, Ala.
Highlights of the acquisition include 1.2 million liquid gallon storage tanks and 200,000 gallon capacity mixing tanks which will add to the company's ability to fill proprietary and custom orders for a variety of products and customers.
Related Results
Bottles can be manufactured on site, then filled, labeled, boxed and shipped via rail, truck or barge from the company's satellite facility which will be a part of the acquisition. The satellite facility is located very near the manufacturing plant on the Alabama River which provides access to the Gulf of Mexico.
The facility has a fully operational marine terminal and complementing rail operation. Up to 30 freight cars can be accommodated for loading and unloading onto trucks and/or barges.
The acquisition will add immediate revenue from existing accounts. Major customers include Shell Oil and Citco.
The company is presently listed and publicly traded as a Small Cap issue under the NASDAQ Symbol OBCI. Ocean Bio-Chem Inc. manufactures and distributes a full line of maintenance and care products for boats, recreational vehicles, automobiles, motorcycles and aircraft. Products are sold under the trademark Star brite name. -0- Note: The foregoing is news relating to Ocean Bio-Chem Inc. For more detailed information the reader is referred to the company's 10-K filed with the Securities and Exchange Commission. This does not constitute an offer to buy or sell securities by GeoMarketing or Ocean Bio-Chem Inc. and is meant purely for informational purposes.
CONTACT: Ocean Bio-Chem Inc.
Peter Dornau, 954/587-6280
or
GeoMarketing
James Nikas, 415/885-6813
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