| FOR IMMEDIATE RELEASE | 12/30/2004 |
| WLS Stamping Co. Buys ASC Corporation | |
|
CLEVELAND ? December 30, 2004 ? Renaissance Partners, LLC served as financial advisor to Baltimore-based ASC Corporation in connection with the sale of the company to Cleveland-based WLS Stamping Co. Under WLS ownership, the name of the company will remain ASC Corporation. "WLS is pleased with the transaction and believes this acquisition will create a synergy allowing us to service our customer base with an extended range of products and services," states Vladimir Tigay, Vice President of WLS Companies and General Manager of ASC Corporation. After creating and distributing the selling memorandum to strategic and financial buyers, Renaissance Partners identified WLS as a buyer for its client and assisted them through the negotiation process to the completion of the sale, which closed November 19, 2004. Formed in 1944, WLS Stamping provides creative solutions to manufacturing companies that are faced with stamping, fabricating and assembly concerns. The company employs over 200 people. ASC is a precision machining company that caters primarily to the defense industry. Renaissance Partners, LLC, a subsidiary of DKW Law Group, LLC, provides strategic guidance, business advice and investment banking services to companies around the world. Visit www.renaissance-partners.com or www.dkwlaw.com for more information. |
|
