Business Services Industry
Tokheim Corporation Makes Announcement
Business Wire, August 19, 1998
FORT WAYNE, Ind.--(BUSINESS WIRE)--Aug. 19, 1998--Tokheim Corporation announced today that it had extended, until September 30, 1998, the closing date of its offer to purchase and consent solicitation for its outstanding $55 million principal amount of 11 1/2% Senior Subordinated Notes due 2006 (the "Notes") due to the fact that certain conditions required for closing had not been met.
In a related announcement, Tokheim today stated that it had also extended the date of the anticipated closing of the proposed acquisition of the fuel dispenser, systems and services business of Schlumberger LTD (RPS) to September 30, 1998. The company stated that Schlumberger has agreed to the extension and is working closely with Tokheim to structure the transaction in a manner to bring about the earliest possible closing.
Tokheim Corporation manufactures and services electronic and mechanical petroleum dispensing systems. These systems include petroleum dispensers and pumps, retail automation systems (such as point-of-sale systems), dispenser payment or "pay-at-the-pump" terminals, replacement parts, and upgrade kits.
CONTACT: Tokheim Corporation
John A. Negovetich, 219/470-4677
or
Kehoe, White, Van Negris & Company, Inc.
John P. Kehoe/Van Negris/Philip J. Denning,
212/396-0606
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