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Poof PRODUCTS,
INC. PURCHASES JAMES INDUSTRIES,
INC.
Plymouth, MI
- Poof Products, Inc., a toy manufacturer
in Plymouth, Mich., has purchased
James Industries, Inc., manufacturer
of Slinky toys, with headquarters
in Hollidaysburg, Pa. The transaction
at an undisclosed price was completed
on July 17, 1998.
James
Industries was founded in 1945 with
one spring toy, Slinky, and now
has a multi-product line for 2-5
year old pre-schoolers, as well
as for 6-11 year old school children.
Ray Dallavecchia,
president and CEO of Poof Products,
has had over 25 years experience
in financial management, retailing,
product procurement and merchandise
distribution. He stated, "Poof
Products will take advantage of
the synergies between Poof and Slinky
products, customers and manufacturing
know-how, to generate a faster growth
track for more success in the future.
The plan is to maintain both manufacturing
facilities in their present locations
and utilize the strength and experience
with people familiar with the operations.
"We are
extremely pleased that Tom James,
with 30 years with James Industries,
will continue in a managerial capacity
and will be an integral member of
our team, "Dallavecchia added.
"We appreciate this opportunity
to continue the growth and prominence
of the James Industries product
line."
Betty M. James,
president of James Industries, said,
"Through the years we have
received many offers for the purchase
of our company. This sale was based
more on the compatibility of our
business philosophies and product
lines than other considerations.
We are confident that this company
will continue the direction and
marketing of our product line in
the same manner as we have followed
in the past. We feel very good about
having Slinky products in the hands
of this company."
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