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ACE DISTRIBUTION COMPLETES ACQUISITION OF HMI INDUSTRIES
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November 27, 2006
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Strongsville, OH, November 27, 2006. HMI INDUSTRIES, INC. (the “Company”) announced today the completion of the previously-announced acquisition by merger (the “Merger”) of the Company by 1670255 Ontario, Inc. dba Ace Distribution Ltd. The Merger was approved by the Company’s stockholders at a special meeting held on November 21, 2006, and the parties consummated the Merger later that same day. The Company anticipates that transmittal documents, which contain instructions on how Company stockholders can tender their shares of stock in exchange for the Merger consideration, will be sent to Company stockholders within the next week.
About HMI Industries Inc.
HMI is a globally oriented, direct selling company engaged in the manufacture and sale of high filtration portable surface cleaners and portable room air cleaners. The Company’s high filtration portable surface cleaner and portable room air cleaner are sold under the trade names Filter Queen®, Princess®, Majestic®, Empress®, and Defender®. The Company’s shares are traded on the Pink Sheets under the symbol “HMII.PK.”
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