FEL-TECH Hammer Division enters negotiations

HHAOA November 25, 2008

A Worcester, MA based company called FEL-TECH hammer Division has entered into negotiations with a New York Based company with a offer to purchase and operate "The Hydraulic Hammer Association of America". Raymond Scott has announced that an offer has been received however has not been accepted at this time. Pending a review of the offer and pending agreements that also come with the existing offer, Mr. Scott has stated that he is reviewing all documents with a New York based Law firm in which he declined to name at this time. He also stated that although other offers have been well received, "He has the duty to make sure that a reputable firm with a strong background oversees the organization". When asked about the financial details Mr. Scott declined to offer any assistance in the actual financial cost of the buyout but, Mr. Scott did state that it would be an "all cash deal' . Mr. Lashua who owns and operates FEL-TECH Hammer Division declined to comment at this time stating that "details of the potential purchase are confidential at this time".