Attached files
| file | filename |
|---|---|
| 8-K - MACE SECURITY INTERNATIONAL INC | v168231_8k.htm |
| EX-10.1 - MACE SECURITY INTERNATIONAL INC | v168231_ex10-1.htm |
 |
Exhibit
99.1
|
For
Immediate Release
Contact
Information:
Mace
Security International, Inc.
240
Gibraltar Road, Suite 220
Horsham,
Pennsylvania 19044
Mail
to: dtaylor@mace.com
Don
Taylor, Vice President
954-415-3406
Mace
Security International Sells Three Car Washes and Reduces Debt
HORSHAM,
Pa. – December 03, 2009 - Mace Security International, Inc. ("Mace",
“Corporation” or the “Company”) (NASDAQ Global: MACE) today announced that it
has sold its three Genie car wash facilities located in Austin, Texas. With the
sale, the Corporation has exited the Austin car wash market. The sales price for
the transaction was $8.0 million with the Company netting $5.6 million in cash
after closing costs and after paying off related debt of $ 2.15 million. Mace’s
debt position is now just under $3 million at November 30, 2009.
“Mace is
almost debt-free and in a much stronger financial position,” said Dennis
Raefield, Mace’s CEO and President. “We are committed to executing our strategy
of focusing on our core security business, exiting the car wash business, and
building a company for future growth.”
Mace
currently owns seven car wash locations and leases one location in Texas. One of
the owned car washes has a pending sales contract.
About
Mace
Mace
Security International, Inc. is the manufacturer of personal defense and
electronic surveillance products marketed under the famous brand name, Mace®,
and is an owner and operator of a wholesale central monitoring
station. The Company also operates a Digital Media Marketing and
e-commerce business. Mace’s web site is www.mace.com.
Certain
statements and information included in this press release constitute
“forward-looking statements” within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. When used in this press release, the
words or phrases “will likely result”, “are expected to”, “will continue”, “is
anticipated”, “estimate”, “projected”, “intend to” or similar expressions are
intended to identify “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are subject to
certain risks, known and unknown, and uncertainties. A discussion of
factors that could materially adversely affect the Company’s financial
performance and cause actual results for future periods to differ materially
from the statements expressed within this press release, are contained under the
heading “Risk Factors” in Mace’s SEC filings, including its periodic reports on
Form 10-K and Form 10-Q which reports should be read in conjunction with this
press release.
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