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Tender Offer Complete for Johnston Industries, Inc

  • Tuesday, 9th May 2000
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CGW Southeast Partners IV, L.P. announced that its wholly owned subsidiary, JI Acquisition Corp., has completed its $3.00 per share cash tender offer for all outstanding shares of Johnston Industries, Inc. The offer expired, as scheduled, at midnight, New York City time, on Friday, May 5, 2000. The tendered shares and the shares of Johnston Industries’ common stock that JI Acquisition will purchase at the closing, represent 91.2% of Johnston Industries’ outstanding common stock. Johnston Industries, Inc. markets engineered textile products, primarily for industrial and home furnishings end uses. One of its subsidiaries, Johnston Industries Composite Reinforcements Inc. makes Vectorply(R) and other sophisticated non-crimp multiaxial reinforcing fabrics from fiberglass, carbon and aramid fibers for a wide variety of applications


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