![]() |
|
WENR Signs Letter of Intent to Acquire Interest in Stewart Products LOS ANGELES – June 16, 2003 -- WENR Corp. (OTC: WNRC) (www.wenr.net) announced today that it signed a letter of intent to acquire an interest in Stewart Products Inc., (www.stewartproducts.com) a manufacturer of products for the law enforcement industry. Stewart Products is located in Southern California. Terms of the proposed acquisition were not disclosed. Stewart Products, Inc. engineers, manufactures, and markets public safety vehicle products to police, sheriff and highway patrol departments across the U.S., Mexico and Canada. It specializes in mobile radio consoles, mobile computer mounts, mobile command posts, and other related products and accessories. Its staff has been serving the Public Safety Market for over 10 years. Stewart Products offers several off-the-shelf solutions as well as more customized mounts. Sales have consistently been in the low seven-figure range for the past 4 years and are expected to increase. WENR is interested in Stewart Products as an entrée into the Homeland Security sector. The Company believes that security and law enforcement will be an expanding industry. The Company is also interested in utilizing its voice-recognition technology to develop software products for this industry sector. WENR Corp. recently changed its focus on its criteria to acquire companies to enhance shareholder value. In the past WENR focused its resources on technology and software concerns. The Company has shifted its focus to acquire specialty product manufacturers, primarily in Southern California. The Company is pursuing operating companies that are profitable and have been in business more than 5 years. In addition to Stewart Products and En Garde Health (a manufacturer of vitamins and other dietary supplements), the Company is evaluating several other potential acquisitions and expects to make offers in the near future. If all of these offers were accepted, the Company’s aggregate interest would generate a combined annual revenue stream of $4-6,000,000 and provide a net profit to the Company during this current year. The Company will continue to develop and market ScreenFriends products and utilize it in cross-promotions with newly acquired concerns as practical. WENR Corp. intends to acquire targeted companies with a combination of cash from proceeds from stock offerings and / or stock in WENR. The Company will provide Stewart Products and other acquired entities with resources for marketing and access to capital. It will also provide senior management assistance for product and market development and secure working capital as needed. Disclaimer For more information:
|
|
5826 Uplander Way,
Culver City, CA 90230 • (310) 216-7700 • FAX (310) 216-9191 |