FOR IMMEDIATE RELEASE
DOCUCON INCORPORATED
For additional information, contact:
Robert W. Schwartz
President and CEO
Docucon, Incorporated
(518)786-7733
140 E. Houston Street, Suite 200
San Antonio, Texas 78205
tel. (210)225-5000
DOCUCON COMPLETES SALE OF OPERATING ASSETS TO TAB
SAN ANTONIO, TX, June 9, 2000 - Docucon, Incorporated (OTC
Bulletin Board: DOCU) announced that it has consummated the sale
of its operating assets and associated liabilities to TAB
Products Co. (AMEX:TBP), which has headquarters in San Jose,
California.
Under the purchase agreement TAB acquired certain assets and
assumed certain liabilities associated with Docucon's San Antonio
operations center, which provides electronic imaging conversion
services. The purchase price was $5.1 million and is a
combination of cash and assumed liabilities. The purchase price
is subject to certain post closing adjustments 30 days after
closing. Approximately 85 employees, including operations,
software engineers and sales personnel, transferred to TAB.
Docucon has moved its principal executive office from Malvern,
Pennsylvania to San Antonio, Texas. The company accepted the
resignation of Douglas P. Gill, and Robert W. Schwartz assumed
the positions of President and CEO. Mr. Schwartz has been a
member of the board since 1997. Currently, the board is
exploring strategic options.
This release contains forward-looking statements that are subject
to risks and uncertainties, including but not limited to
volatility of stock market prices due to market conditions,
competition and other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission.
All parties receiving this release are encouraged to review all
filings made by the Company with the Securities and Exchange
Commission.
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