PROACTIVE FINANCE GROUP COMPLETES PURCHASE OF 47.68% INTEREST IN DTM(TM)
(PR Newswire; 02/23/99)
James B. Skaggs Joins DTM Board of Directors
AUSTIN, Texas, Feb. 23 /PRNewswire/ -- DTM Corporation (Nasdaq: DTMC) today
announced that Proactive Finance Group, LLC, through an affiliated
investment partnership, had completed the previously disclosed purchase of
47.68% of DTM's outstanding common stock from the BFGoodrich Company.
Subsequent to the completion of the transaction, Mr. James B. Skaggs was
elected to DTM's Board of Directors.
Mr. Skaggs was Chairman and CEO of Tracor, Inc., the 12th largest U.S.
defense contractor, prior to its acquisition by GEC, Ltd. of the United
Kingdom in June 1998. Mr. Skaggs joined Tracor, Inc. in 1990 and led its
emergence from bankruptcy, strategic restructuring, and operational
turnaround into an industry leader. At the time of its acquisition by GEC,
Tracor had sales of approximately $1.3 billion and 10,500 employees. Mr.
Skaggs has 40 years of diverse management experience primarily in the
aerospace and electronic systems industries, including executive positions
at Allied Signal, AMEX Systems, SDC and NASA. Mr. Skaggs also serves on the
Board of Directors of the Alamo Group, which is listed on the New York
Stock Exchange.
According to Anthony Mariotti, a Proactive Principal who worked on the
transaction and heads up Proactive's corporate finance activities, "DTM is
very fortunate to have an individual with James Skaggs' background and
experience serving on its Board. His input and guidance should be a
tremendous asset to DTM management."* In addition to Mr. Skaggs, Mr.
Mariotti and Lawrence Goldstein, another Proactive Principal, were elected
to fill the vacancies on DTM's Board of Directors created by the
resignation of three BFGoodrich executives in accordance with the terms of
the transaction. Mr. Goldstein coordinates Proactive's investment banking
activities and is a General Partner and Co-Founder of Seed Company
Partners, LP, a venture capital firm focusing on early-stage
high-technology based businesses. Proactive Finance Group, LLC is a
privately held financial services and investment firm based in Austin,
Texas.
DTM Corporation develops, manufactures and markets [....]
For more information, contact:
DTM Corporation
1611 Headway Circle, Building 2, Austin, TX, USA 78754
Phone +1.512.339.2922; Fax +1.512.339.0634
SOURCE DTM Corporation
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