Sylvan Inc. Announces Shareholder Approval of Merger With SAC Holdings, Inc.
June 09 2004 - 6:43PM
PR Newswire (US)
Sylvan Inc. Announces Shareholder Approval of Merger With SAC
Holdings, Inc. SAXONBURG, Pa., June 9 /PRNewswire-FirstCall/ --
Sylvan Inc. (NASDAQ:SYLN) announced today that its proposed merger
with SAC Holdings, Inc., a subsidiary of Snyder Associated
Companies, Inc. of Kittanning, Pennsylvania, was approved at its
June 9, 2004 special meeting of Sylvan shareholders. Sylvan
anticipates closing on the merger on June 10, 2004. Snyder
Associated Companies, Inc. is a privately held company involved in
the production of oil, natural gas, mineral aggregates and fresh
mushrooms, the mining of coal and limestone and the manufacture of
cement and concrete products, among other businesses. Sylvan Inc.,
with 2003 revenues of $95 million, is a leader in fungal technology
and a preeminent worldwide producer and distributor of products for
the mushroom industry. It specializes in spawn (the equivalent of
seed for mushrooms) and other spawn-related products and services,
and is a major grower of fresh mushrooms in the United States.
Forward-Looking Statements The reference in this press release to
the closing is a forward-looking statement. It is based on the most
current information available to the company. However, there are no
assurances related to the timing of the closing. DATASOURCE: Sylvan
Inc. CONTACT: Don Smith of Sylvan Inc., +1-724-352-7520 Web site:
http://www.sylvaninc.com/
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