Dtomi to Acquire Renaissance Window Fashions; Will Also Create Separate Air Spring Axle Subsidiary
PLANTATION, Fla.--May 1, 20053, 2005--Dtomi, Inc. a Nevada corporation ("Dtomi") (OTCBB:DTOI), announced today that it has entered into a letter of intent to acquire Renaissance Window Fashions, Inc. of Oxnard, CA. Renaissance is a designer and manufacturer of hard window treatments for the window coverings industry, selling their product through independent business owners / decorators and department stores. The proposed transaction is subject to customary closing conditions, including required stockholder's approval.John Haddock, CEO of Dtomi, Inc. said: "We are very excited about Renaissance's prospects in the $5 billion window treatments market. They are dedicated to delivering high quality window treatments and supporting their products with excellent service."
"This planned acquisition is consistent with our previously announced goal of diversifying our business base by acquiring revenue-generating businesses that are poised for significant growth. Renaissance has increased its customer base over 25% in the last year and we are looking forward to helping fuel Renaissance's continued expansion," Haddock added.
Dtomi will create a separate subsidiary responsible for developing the Air Spring Axle(TM), its innovative suspension system designed for small and medium sized trailers and other proprietary products. In February, the company announced its intent to license a new, much superior design for the suspension. The Air Spring Axle(TM) not only provides the benefits of an air suspension but also allows a trailer to be lowered to ground level to simplify loading and unloading.
For more information on Renaissance visit the company's website at http://www.renaissance-wfi.com.