MONTREAL, April 5, 2005 (PRIMEZONE) -- Adsero Corp. (OTCBB:ADSO) today announced that it has made a tentative offer to management of Turbon AG ("Turbon"), to acquire all the outstanding shares of Turbon, a leading global imaging supply company publicly traded on the Frankfurt stock exchange. The aggregate offering price, pursuant to the offer, is approximately US$49 million, consisting of US$40 million in cash and US$9.0 million in Adsero stock.
The Turbon Executive Board has agreed to meet representatives of Adsero to discuss the details of the contemplated transaction as well as the planned role and significance of Turbon within the combined entity. If amenable to our offer, Turbon's Executive Board will provide its recommendation to Turbon's shareholders. The completion and closing of this transaction will be subject to certain conditions, including but not limited to, Adsero completing its due diligence, finalization of the necessary funding to close the transaction, and the approval of Turbon's shareholders.
Turbon ( www.turbon.de ) through its subsidiaries, develops, produces, and distributes compatible imaging supplies for Laser, Inkjet, Dot Matrix, and Thermal Transfer printers. Turbon operates production plants in Europe, Asia and the U.S., and had revenues of approximately US$158 million for fiscal 2004 (based on today's exchange rate).
Adsero Corp., through its wholly owned subsidiary, Teckn-O-Laser, is a North American leader in the printer cartridge remanufacturing industry. The company manufactures and distributes remanufactured toner cartridges and inkjet cartridges. These products are sold to a variety of channels such as distributors and retail office supply stores, both domestically and internationally. Shareholders can remain current on the company by visiting www.adserocorp.com with access to near real-time information.
This press release is available on the company's official online investor relations site for investor commentary, feedback, and questions. Investors are asked to visit http://www.adserocorp.com/IRhub and view the Adsero Corp. Investor Relations Hub. Alternatively, investors are asked to e-mail all questions and correspondence to ADSO@Agoracom.com.
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