08 Jul Radio Frequency Company, Inc. Announces the Buy-Back of Approximately 80% of its’ Outstanding Common Stock
Millis, MA –-(BUSINESS WIRE)–
Radio Frequency Company Inc. (RFC) announced the completion of a buy-back of approximately 80% of common stock held by legacy majority shareholders. Founded in 1946, Radio Frequency Company’s 40,000 square foot design and manufacturing facility is located in the suburbs of Boston Massachusetts alongside of the historic Charles River. RFC is the world’s leading manufacturer of advanced industrial radio frequency (RF) processing systems for the rapid heating, drying, curing, disinfestation and pasteurization of food products and industrial materials.
The Company believes it is now in its best position to operate in the moment and to continue strategically toward long-term success. RFC’s President & CEO Tim Clark described the initiative as follows: “I thought it was absolutely essential for the continued success of the company for it to be 100% controlled by present management and key employees. As new markets emerge and established niche markets continue to expand, the company will require unencumbered speed and flexibility to maximize on these growth opportunities.”
Established in 1946 by its founder, Joshua Manwaring, Radio Frequency Company, Inc. is a privately held, stock-owned, company that owns and operates out of its 40,000 square foot facility on a 19-acre site in Millis, MA. One of the key growth sectors for the company is in the food safety market. RFC has developed a novel pasteurization technology which utilizes radio frequency energy to kill pathogens such a salmonella, E. coli and listeria. Today, the company’s production pasteurization systems, produced under the trade name of Macrowave™, boasts a global installation base treating over 1.5 billion pounds of food products per annum.
Says Clark, “There continues to be a strong push by consumers for clean-label products with fewer chemical ingredients including those added to kill microbes. Our unique Macrowave™ treatment process uses no chemicals, produces zero CO2 emissions, and is 100% organic, which puts it in a very strong market position moving forward.” Recent financials released by the company show a margin north of 40% and a current ratio greater than four. For additional information the company’s website is www.radiofrequency.com
Frederic Holdsworth, CPA, MSA
Controller
Radio Frequency Company
508.376.9555
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