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1.18x1.2 slaps should be coming soon
INSA Interview with Uniroyal President Howard Curd
http://thewallstreetanalyzer.com/uniroyal-engineered-products-management-interview/
Not letting go of mine!
bid is above the ask. No one is selling
bid support is still strong. Not going to get many shares w/o slapping the ask though
Looking good. This will be a fun one
Invisa Announces Non-binding Letter of Intent to Acquire Uniroyal
Invisa, Inc. (OTCQB: INSA), Uniroyal Engineered Products, LLC and Engineered Products Acquisition Limited jointly announced today the execution of a non-binding Letter of Intent. Under the Letter of Intent, Invisa will acquire all of the outstanding capital stock of Uniroyal Engineered Products and Wardle Storeys Limited in exchange for newly issued shares of Invisa non-convertible preferred stock. The number of current outstanding shares of Invisa common stock will not be altered by the proposed transaction.
The acquisition will combine Uniroyal’s strong presence in the U.S. market and its established Naugahyde® brand name and Wardle Storeys’ strong presence in the UK market into a publicly traded international textured coatings business serving the automotive, industrial, upholstery and healthcare industries. Upon completion of the acquisition, Invisa will have in excess of 500,000 square feet of manufacturing space, 500 employees and approximately $100 million in revenue.
According to Edmund C. King, Invisa’s CEO, “This is a significant step toward transforming Invisa into a sustainable and profitable growth company. We are thrilled to have the opportunity to bring these strong operating businesses and superior management into Invisa.”
Howard R. Curd, CEO of Uniroyal said, “We are indeed proud of Uniroyal’s operating history and brand loyalty in the textured coatings industry. With our expansion earlier this year into the UK through our acquisition of Wardle Storeys and the transaction described in the Letter of Intent announced today, I believe that we will be well-positioned to accelerate and maximize potential growth opportunities.”
The consummation of the transactions contemplated by the Letter of Intent is subject to numerous material conditions including execution by the parties of a definitive agreement and ongoing due diligence. Accordingly, numerous future events could result in the terms of the Letter of Intent being modified or the proposed transaction being delayed or not being consummated. The principal owner of Uniroyal and Wardle Storeys has voting control of Invisa.
About Invisa: Invisa (INSA:OTCQB) manufactures and markets proprietary safety sensing products for the parking gate market under the brand name SmartGate®. Invisa’s safety system generates an invisible protective field that moves with and precedes the potentially hazardous leading edge of powered gates.
About Uniroyal: Uniroyal, based in Sarasota, Florida, with manufacturing in Stoughton, Wisconsin, sells to the automotive and industrial marketplace under the name Uniroyal Engineered Products and to the consumer related marketplace under the name Naugahyde®, the most widely recognized coated vinyl brand name in North America. Uniroyal re-entered the automotive interior marketplace in 2010.
About Wardle Storeys: Wardle Storeys, based in Earby, Lancashire, England, is a well established supplier to the European automotive interior market and sells consumer-related products under the brand name Ambla®.
Higher highs, hit $1.50, someone sold $500 for weekend beer money. Should cruise through the 1s next week.
I dont think they'll let me. Still have hidden bids. MM are playing games to stall in shake some loose hands. My shares are locked tight, I have an alert for $5. I'll start watching it more when we hit that.
Hit that 1.10! Lol
They are hiding bids lol, doubt there are any shares left here floating.
$7-$10 big board stock coming...
looking good so far. Would love to see this have another heavy volume day. We'd hit $5 easy
Two mms now over $12, yeah I'll sell for 80 cents let alone $2 lol. Looking for a break out today! Bid was getting pushed yesterday
Breakout to high 1s in store Friday!
I'm strapped in and ready for it. Looks like they are trying to shake the last cpl of loose hands. But its still holding gains from the big pop nicely
This is about to blow up...
mine was at .95 yesterday. didnt pop up once
I have a bid at $1 they aren't even showing lol!
Dont take much volume to get this moving. Solid looking.
WABR got knocked with 2 500 share trades.
1.15s up and the the next number on L2 is 2.10
I'm locked and loaded. Think I have enough shares to make me pretty happy in anything from $5-10. Those shares were not easy to get either.
Breakout coming..
I'm still waiting for my bid to show up
Yep! There are ZERO shares available here. Impossible to add a large amount. This can still close $1.25+ area with a little more buying..
cpl of nice slaps coming in
MMs playing serious games here. I'm guessing that $1 won't even fill..
I've got a bid in over the current and its not showing up. Been about 5 min. any reason?
Pullback on super low volume. No worries as a little volume will put this back over $1 in a big way. Nothing but positive news coming here.
not much volume today. I got my order filled. Ready for the slaps to roll in
Very nice bid support, ever since this WABR has shown up on the ask it's slowed trading down here. Maybe folks trying to collect in this $1 level as the ask is super thin. No one selling so they will have to let it go shortly.
I scooped some up on the bid, I'll slap the rest if it doesn't get filled in the next cpl of hours. Shares are def being held tight
WABR trolling for shares lol!
grabbing more today
Being a manufacturer in the automotive sector is very profitable. With Naugahyde, automakers are able to cut costs on interiors (leather) without sacrificing quality. Uniroyal is in the best position to profit from booming autosales!
I think this will be a beast once the terms are laid out and the deal is finalized. HUGE potential here! From automotive to industrial. Wardle Storey and Uniroyal (Engineered) is a match made in heaven!!!
"There were two main reasons for the merger," said Uniroyal Engineered President Howard F. Curd in a telephone interview. "The geography is important to expand our footprint. Customers, especially in automotive, are getting more global."
The other main reason is that the firms' auto business, the biggest market for the combined companies, did not have much overlap.
"They sell to different OEMs and Tier 1 companies," Curd explained. "This is an opportunity to open up to new customers overseas."
Yes, huge, I'm looking for a continued uptrend tomorrow. $100 million + in revenues and stated no share structure change to INSA with transaction.
Curd, Uniroyal and insiders already own 90-95% of the shares outstanding.
INSA a gem here!!
"Upon completion of the acquisition, Invisa will have in excess of 500,000 square feet of manufacturing space, 500 employees and approximately $100 million in revenue."
HUUUUUUGE$$$$$$$$))$)
I've never moderated a brd before...
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REVERSE MERGER NEWS:
March 14, 2014
Invisa Announces Non-binding Letter of Intent to Acquire Uniroyal
-Upon completion of the acquisition, Invisa will have in excess of 500,000 square feet of manufacturing space, 500 employees and approximately $100 million in revenue.
-Invisa will acquire all of the outstanding capital stock of Uniroyal Engineered Products and Wardle Storeys Limited in exchange for newly issued shares of Invisa non-convertible preferred stock.
-The number of current outstanding shares of Invisa common stock will not be altered by the proposed transaction.
Current Share Structure:
Shares Authorized: 95 million
Shares Outstanding: 14.2 million*
Shares Floating: 5.3 million
*Curd/Uniroyal owns 10.7 million of Outstanding
Insiders could own 2.6 million of Outstanding
Float is gone..
Current Market Cap (3/21/14): $14 million
1-2x Sales @ $100 million sales = $7-$14 PPS
Invisa (INSA:OTCQB) manufactures and markets proprietary safety sensing products for the parking gate market under the brand name SmartGate®. Invisa’s safety system generates an invisible protective field that moves with and precedes the potentially hazardous leading edge of powered gates.
Invisa Inc.
6935 15th Street East
Suite 120
Sarasota, FL 34243
Phone: 941-355-9361
Fax: 941-355-9373
Uniroyal Engineered Products LLC
Corporate Office
1800 2nd Street, Suite 970
Sarasota, Florida 34236
Phone: 941-906-8580
Uniroyal Engineered Products LLC
Manufacturing Facility
501 South Water Street
Stoughton, Wisconsin 53589-2481
Uniroyal, based in Sarasota, Florida, with manufacturing in Stoughton, Wisconsin, sells to the automotive and industrial marketplace under the name Uniroyal Engineered Products and to the consumer related marketplace under the name Naugahyde®, the most widely recognized coated vinyl brand name in North America. Uniroyal re-entered the automotive interior marketplace in 2010.
Uniroyal Engineered Products merges with UK's Wardle Storeys
Published: March 14, 2013 3:30 pm ET
Updated: March 15, 2013 9:43 am ET
SARASOTA, FLA. -- The producer of the well-known Naugahyde vinyl-coated fabrics brand has merged with a British firm to expand its reach into Europe. Uniroyal Engineered Products announced March 12 that it combined with Wardle Storeys Ltd. of Earby, England. Uniroyal Engineered is headquartered in Sarasota, Fla., and runs a manufacturing plant in Stoughton, Wis. Like Uniroyal Engineered, Wardle Storeys is a major producer of vinyl-coated fabrics. The firms have diverse markets, the major ones including automotive, industrial, upholstery and healthcare.
Terms of the deal were not disclosed. The acquisition became effective March 4.
"There were two main reasons for the merger," said Uniroyal Engineered President Howard F. Curd in a telephone interview. "The geography is important to expand our footprint. Customers, especially in automotive, are getting more global." The other main reason is that the firms' auto business, the biggest market for the combined companies, did not have much overlap. "They sell to different OEMs and Tier 1 companies," Curd explained. "This is an opportunity to open up to new customers overseas."
The combined business has annual sales of more than $100 million, estimated Uniroyal Engineered vice president of human resources John Lynn in a telephone interview. It will be based in Sarasota but the companies will continue to operate under their established names to take advantage of the goodwill they have earned in their markets. There is no immediate plan to create a new name for the combined entity. Uniroyal Engineered has had very limited business overseas, although brokers might have been selling its coated fabrics offshore.
Curd said he and private investors bought Uniroyal Engineered in 2003 with the legal assistance of Five Points Partners LLC of New York. Uniroyal Engineered used to be part of Uniroyal Technology Corp., which filed for Chapter 11 bankruptcy protection in 2002. In 2003 Uniroyal Technology's businesses were split up with Curd and his partners getting the vinyl-coated fabric business. The Uniroyal moniker dates to 1961 when the former United States Rubber Co. changed its name. Uniroyal, originally a tire company, diversified into specialty chemicals, vinyl fabrics, plastic sheet and specialty products. In 1990 French tire major Michelin bought the Uniroyal Tire business. In 2000, Spartech Corp. bought the sheet business comprising Royalite thermoplastic sheet and Polycast cell-cast acrylics. The Naugahyde name derives from Naugatuck, Conn., where the vinyl-coated fabric was first made in 1936. Uniroyal Engineered sells its industrial products under the Uniroyal Engineered Products name and its consumer-related products under the Naugahyde name.
Wardle Storeys' brand names include Amba vinyl-coated fabrics for the contract upholstery market and Velbex calendered vinyl sheet for medical, industrial, barrier, pond liner, decorative laminates and other markets.The company also has a components division that does vacuum forming, injection molding and urethane foam molding for automotive and other markets. Calendered vinyl will be the biggest new business for Uniroyal Engineered in the merger, according to Curd. "Uniroyal [Engineered] and Wardle Storeys have a long history of outstanding design and development capabilities and the technology exchange and the sharing of resources will expand our offerings to all our customers," Curd noted in a news release. Wardle Storeys sells a range of vinyl-coated auto interior trim, including vacuum-formed components. Other markets for such products include marine, healthcare, child care and other transportation applications. Earby, in Lancashire County, is its only manufacturing plant. The firm was privately owned. Wardle Storey referred questions about the deal to Uniroyal Engineered.
According to Hoover's, a Dun & Bradstreet company, Uniroyal Engineered's main competitors are specialty textile firm Hallwood Group Inc. of Dallas; producer of elastomer-coated and unsupported sheeting Trelleborg Coated Systems U.S. Inc. of Spartanburg, S.C.; and Eagle Ottawa LLC, an Auburn Hillls, Mich., supplier of leather and leather laminates for premium automotive interior trim.
Wardle Storeys (Earby) Ltd.
Grove Mill
Earby
Colne
Lancashire
BB18 6UT
Tel: +44 (0) 1282 842511
Fax: +44 (0) 1282 843170
http://www.wardlestoreys.com/index.html
Wardle Storeys, based in Earby, Lancashire, England, is a well established supplier to the European automotive interior market and sells consumer-related products under the brand name Ambla®.
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