Apogee Enterprises Announces Sale of Assets of Discontinued VIS'N Service Corporation Operations
MINNEAPOLIS--(BUSINESS WIRE)--Nov. 2, 2000--Apogee Enterprises, Inc. (Nasdaq:APOG) announced that it has sold the assets of its VIS'N Service Corporation subsidiary, a non-auto glass focused, third-party administered claims processor, to two companies for undisclosed terms.
In its fiscal 2000 fourth quarter, ended February 26, 2000, Apogee had announced it was exiting this operation because it did not directly support its retail auto glass repair and replacement business.
Program Resources Company, a Hartford, Connecticut, subsidiary of ChoicePoint Services Inc. (NYSE: CPS), has purchased the Red Wing, Minnesota, policy processing and interface management services assets of VIS'N. N'SITE Solutions, Inc., of Des Moines, Iowa, has acquired the Des Moines claims management and call center VIS'N assets. Both companies will continue to provide claims processing services to Apogee's existing insurance customers.
Apogee Enterprises, Inc. is a world leader in technologies involving the design and development of value-added glass products, services and systems. Organized in two business segments, the Glass Technologies businesses are leaders primarily in architectural glass and high-end glass coatings for the electronics markets, while the Glass Services businesses are leaders in replacement auto glass and building glass services. Headquartered in Minneapolis, the company's stock is traded on the Nasdaq Stock Market under the symbol APOG.
| CONTACT: | Apogee Enterprises Inc., Minneapolis |
|---|---|
| At the Company: | |
| Mary Ann Jackson | |
| (952) 830-0674 | |
| mjackson@apog.com | |
| or | |
| At the Financial Relations Board: | |
| Investor Inquiries | |
| Suzy Lynde | |
| (312) 266-7800 | |