Breaking News

OraLabs Selling

October 4, 2006

President, chief executive officer and chairman of the parent company, Gary Schlatter will take his company, OraLabs Inc., maker of breath sprays and lip balms, private again. The founder of the Parker, Co.-based company, Mr. Schlatter is selling the parent company, OraLabs Holding Corp., to a Chinese company looking for a listing on a stock exchange through a reverse merger. The deal is on schedule to close this month and OraLabs Holding will be purchased by Partner Success Holdings Ltd., which owns the steel processing company Shanghai Chengtong Precision Strip Co. Ltd. Post-merger, the two companies will be known as China Precision Steel Inc.

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