Noxso plans to liquidate
Article Abstract:
Noxso Corp. of Bethel Park, PA, which develops pollution control technology, revealed that it will liquidate rather than continue looking for new financing. The firm, which filed for bankruptcy in 1997 and which lost $19 million in its 19-year existence, made the announcement following its failure to secure $15 million to $18 million funding to finance the commercial testing of its technology for eliminating sulfur dioxide and nitrogen dioxide. According to Noxso Vice President John Haslbeck, the firm will rather liquidate than continue operating and waiting for investors to finance the firm. Besides if investors were really interested in Noxso, the firm should have already received expressions of interest, according to Haslbeck.
Comment:
Will liquidate rather than continue looking for new financing
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Extra cheese
Article Abstract:
Galaxy Foods produces low-fat or no-fat, cholesterol-free and lactose-free cheese, bakery and other products, working with a mission to salvage people from unhealthy foods. The company reported its first annual profit in the fiscal year ended Mar. 31, 1998, posting net income of $377,523, since it moved into Orlando, FL. Galaxy Foods lost $11 million in the last three years, keeping the company's stock below $2 for most of those three years. With 150 business associates, Galaxy Foods' latest move includes a low-fat, veggie cheese pizza being sold at Sbarro and its installation of the world's fastest cheese-slice producing machine, which can do $100 million a year.
Comment:
Produces low-fat or no-fat, cholesterol-free & lactose-free cheese, bakery & other products
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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