Bush Industries Announces Letter Of Intent To Acquire Fournier Furniture

Furniture World Magazine

Bush Industries, Inc. (NYSE: BSH), a leading furniture manufacturer and supplier of surface technologies, announced that it has entered into a letter of intent to acquire all of the issued and outstanding capital stock of Fournier Furniture, Inc.,' a manufacturer of ready-to-assemble furniture, for the purchase price of $7,000,000. The company expects to close the transaction by April 30, 1998, subject to execution of a definitive stock purchase agreement. "We look forward to the integration of the Fournier team into the Bush organization. We anticipate that Fournier's Virginia manufacturing facility will provide Bush Industries with an available incremental production capacity of $50 million per year," stated Paul Bush, chairman and president. More information about Bush Industries, Inc. is available on the Internet at http://www.bushfumiture.com.