| Ticker: TFG | 81 Wyman Street, P.O. Box 9046 | |
| Exchange: American Stock Exchange | Bedford, Massachusetts 02254 | |
| Industry: Manufacturing | (617) 622-1000 |
| Type of Shares: | Common Units | Filing Date: | 7/3/96 | |
| U.S. Shares: | 4,100,000 | Offer Date: | 9/13/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $12.50 | |
| Primary Shares: | 4,100,000 | Offer Price: | $12.75 | |
| Secondary Shares: | 0 | Gross Spread: | $0.83 | |
| Offering Amount: | $51,250,000 | Selling: | $0.49 | |
| Expenses: | $350,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,100,000 | |||
| Spin out parent firm: | Thermo Electron Corporation | |||
| Manager | Tier | Phone |
| Natwest Securities Ltd | Lead Manager | (212) 602-4800 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/30/96 | 4/1/95 | 3/30/96 | ||
| Revenue: | $0.00 | $0.00 | $0.00 | Assets: | $13.10 |
| Net Income: | -$0.60 | -$0.10 | -$0.14 | Liabilities: | $0.61 |
| EPS: | -$0.06 | -$0.01 | -$0.01 | Equity: | $12.49 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company was established as a subsidiary of Thermo Fibertek, Inc. to develop and commercialize equipment and systems to recover valuable materials from increasing volumes of pulp residue generated by plants that produce recycled pulp and paper. The company intends to finance, build and operate recovery plants on sites at, or immediately adjacent to, recycled pulp mills, employing a proprietary process to treat pulp residue. The company's plants will recover and clean long cellulose fibers for resale to pulp residue, such as fines (very short fibers not usable for papermaking) and minerals, into saleable products. The company's GranTek, Inc. subsidiary recently acquired substantially all of the assets, subject to certain liabilities, of Granulation Technology, Inc. and Biodac, a division of Edward Lowe Industries, Inc. GranTek employs patented technology to produce absorbent granules from pulp residue. These granules, marketed under the trade name BIODAC, are currently used as a carrier to deliver chemicals for agricultural, lawn and garden, and other needs. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for general corporate purposes, including funding the development and commercialization of the company's fiber-recovery system, and for acquisitions. |
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