Business News • MarketWire • Orange 21 Inc. Enters Into Master Agreement to Sell 90% of Lem S.r.l., Its Manufacturing Subsidiary |
Orange 21 Inc. Enters Into Master Agreement to Sell 90% of Lem S.r.l., Its Manufacturing Subsidiary |
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Orange 21 Inc. Enters Into Master Agreement to Sell 90% of Lem S.r.l., Its Manufacturing Subsidiary
CARLSBAD, CA--(Marketwire - December 22, 2010) - Orange 21 Inc. (OTCBB: ORNG) announced today that on December 16, 2010, the Company entered into an agreement to sell 90% of the capital stock of its wholly-owned manufacturing subsidiary, LEM, S.r.l. ("LEM"), to LEM's senior management and two of its outside suppliers for EUR 15,000. The sale will be effective on December 31, 2010. The Company will continue to hold a 10% interest in Lem following the sale and will continue to purchase eyewear from LEM.
View More : http://www.marketwire.com/mw/release.do?id=1372785&sourceType=3
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