Stock Offering: Urethane Technologies Inc., a developer...
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Stock Offering: Urethane Technologies Inc., a developer of different types of liquid urethane, said it plans to sell stock to the public for a second time.
The Irvine-based company told the Securities and Exchange Commission that it plans to sell 870,000 shares, but no price or date was mentioned. The proceeds will be used to repay debt, for sales and marketing and for working capital.
Urethane Technologies has been making plastics since 1922. Latest year’s sales were $1.3 million, but the company says it has not shown a profit since selling stock to the public in 1985. Urethane is used in products ranging from auto bumpers to shoes.
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