Daily News Record, February 6th, 1995
NEW YORK (FNS) -- Signal Apparel Co. continues to expand its branded business with plans to acquire a 52 percent interest in Ocean Pacific Apparel for $6.88 million in cash and/or Signal stock and the assumption of OP's debt in a deal valued at $23 million.
Marvin Winkler, chairman of Signal, said in a telephone interview that projected sales for OP in 1995 are $100 million.
The deal is subject to Signal obtaining adequate financing to complete it and sustain its ongoing operations.
In the third quarter ended Sept. 30, Signal obtained a $5 million discretionary overadvance on its credit f...
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