Distributor of CPG products under the trademarked Apple Rush brand, the Apple Rush Company (OTCMKTS:APRU), on April 28, 2022, confirmed on acquiring 80% interest in Michigan based ACS Enterprises, LLC as well as Earth Lube LLC, a wholly owned subsidiary of ACS Enterprises.
Market Reaction
On Thursday, APRU stock gained 2.11% to $0.0019 with more than 3.26 million shares, compared to its average volume of 1.39 million shares. The stock moved within a range of $0.0019 – 0.0022 after opening trade at $0.0020.
Apple Rush Company Acquires Majority Interest in Plant Based Chemical Manufacturing Company
ACS formulates as well as markets plant-based chemicals for chemicals and lubricants for copper plating. The company even has a mold inhibitor for several applications including in the cannabis industry.
Tony Torgerud, CEO of Apple Rush said that American Chemical is expert at chemical formulations and diverse operations. The CEO added that its lubricant is made in plants and finished in the spray lubricant industry with more than $500 million in annual sales. The CEO further said that the company is focusing on plant-based products as well as lubricant business expansion.
The ACS copper additive is a copper plating solution in use globally for welding and industrial wire drawing. The copper coating is being seen for making it easy to wire drawing processes as well as increase characteristics associated with welding and decorative wire. Margins of the product are about 80 percent with a single customer ordering over $1.5 million dollars of product annually.
Rod Sniadecki, president of ACS has decades of knowledge in product development and can brand this lubricant as Mistyk plant based penetrating lubricant.
Key Quote
CEO of Apple Rush, stated “Building with acquisition is our intent. American Chemical is proficient with chemical formulations and has operations in Niles, Michigan, for blending and distribution. Currently on the market in commercial and industrial applications, our penetrating lubricant is formulated from plants and competes in the spray lubricant industry currently led by WD-40 with over $500 million in annual sales. We are focused as a company on plant-based products and the lubricant business is expanding worldwide.”
Traders Review
APRU stock is trading above the 20-Day and 50-Day Moving averages of $0.0019 and $0.0019 respectively. However, the stock is trading below the 200-Day moving average of $0.0032.
