SARASOTA, Fla. – United Companies Corp. (OTCBB: UCPJ) has signed a Letter of Intent to acquire 100 percent of the issued and outstanding shares of Trebor Industries, Inc., d/b/a Brownies Third Lung, it reported in a statement today.
Terms of the agreement were not disclosed. United President David Norris said today that a definitive acquisition agreement should be completed within 30 days.
Brownie's Third Lung is a vertically integrated manufacturer with in-house resources and design capabilities focused on several emerging and synergistic marine industry markets, according to United. Brownie's is involved in recreational hookah diving, and yacht based Scuba Air compressor and Nitrox Generation Systems.
Brownie's designs, tests, manufactures and distributes products at its factory in Fort Lauderdale. Brownie's also designs, develops and produces a line of scuba and water safety products targeted at the public safety diver and recreational boating markets.
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