Business
Bonal International, Inc. Stockholders Accept a Letter of Intent to Sell Stock
Bonal International, Inc. Stockholders Accept a Letter of Intent to Sell Stock.
About this update from Bonal International, Inc.
[{"type":"text","content":"October 5, 2012 Royal Oak, Mich. – Bonal International, Inc. (OTC: BONL) Chairman, A. George Hebel, III, announced today that stockholders of the Company collectively holding over a majority of all of the issued and outstanding shares of the stock of the Company, accepted a Letter of Intent to sell their shares in the Company to an unrelated third party. The sale is contingent on satisfactory completion of due diligence on the Company by the buyer DePierre Management & Manufacturing, L.L.P., Clarkston, Michigan. The selling stockholders, after consultation and investigation, believe this sale to be in the best long term interest of the Company and its subsidiary, Bonal Technologies, Inc. the world’s leading provider of non-thermal metal stress relief using the patented Meta-Lax Technology. “Mr. Rob DePierre, who offered the letter of intent, appears to have the background, drive and motivation to move the organization forward at a level commensurate with the possibilities,” commented Mr. Hebel, who continued, “this is expected to be of benefit to Bonal International stockholders, employees and customers in the long term.”The selling stockholders include the Trusts’ of late August G. Hebel, Jr. and Betty Jane Yale Hebel; Chairman, A. George Hebel, III; Treasurer, Brian F. York; Director, Paul Y. Hebel; and Secretary and Vice-President International Sales, Betty Jean Hebel.Current Interim President, Thomas E. Hebel has been asked to stay with the Company.####","length":2501,"tagName":"div"}]