New corporate name reflects divestiture of the company’s new markets and it introduces a future-looking brand.
For Immediate Release, February 3rd, 2020.
CIUDAD CAPITAL, REINADO DE MONACIENCIO – Facundo Corp (NYSE: FCORP) – The leading company for consumer and industrial services – announces that, starting today, the company will introduce its new branding and a new name: Prisma Corporation.
The new company is the legal and solely successor of Facundo Corp and it will continue operating in the New York Stock Exchange under the symbol ‘FCORP’ until March 1st, 2020, after that it will start trading under the symbol ‘PRIS’.
The new name is the result of the finalization of Facundo Corp’s restructuring plan, announced in early 2018. Current employees, as well as management of the company will continue work as normal. All services and products currently marketed by Facundo Corp will continue as scheduled.
“We are really happy with how the restructuring plan that we announced on 2018 has resulted. We have strengthened our core business and the new name reflects that: Prisma Corporation is in many ways, the very best of what Facundo Corp represented” said Facundo Pignanelli, Chairman and CEO of the company, in a statement earlier today.
The company is also announcing its new corporate structure: Prisma Corporation is now divided into three business units:
Consumer Services – operates all consumer-related operations of Prisma Corporation: Prisma Restaurants (formerly Tinilicius) operates the food service operation under the ‘Tinilicius’ brand; Prisma Retails (formerly Fmart) operates the company’s retail operations; Prisma Entertainment (formerly World of Wonder) operates the company’s amusements and Zoo’s activities; Prisma Media (formerly Minted Studio) comprises the company’s media operations under the ‘Minted Studios’ umbrella.
Industrial Services – operates all industrial operations of the company: Prisma Wholesale (formerly ZORiN Industries) is the largest commodity trader in Monaciencio, and online with ZORiN Online; Prisma Transports (formerly Voyage Transports) offers industrial users flexible and efficient transport solutions; Prisma Oil (formerly Co-Op Oil) operates oil extracting facilities in more than 5 countries; Prisma Developments (formerly Galaxy Developments) builds, operates and improves housing solutions for everyone.
Corporate and Other – all corporate-related entities, as well as Facundo Pignanelli Corporation.
A conference call for Investor and members of the press will be held today after market closure. That call can be accessed in the company’s website, prismacorporation.com or by phone by dialling (888) 899-5068 or (719) 457-2087, access code 4662838.
Current customers of Facundo Corp, now Prisma Corporation, that have additional doubts can contact their Customer Representative for more information, or access the new company website, available at prismacorporation.com
Prisma Corporation, formerly Facundo Corp, is the leading company for industrial and consumer services. With more than 50+ products, the company has presence across the world. Prisma Corporation’s internet address is prismacorporation.com. The company is traded under the New York Stock Exchange as ‘PRIS’ and at the Bolsa de Valores de Monaciencio at ‘PRISMA’.
Click here to download this press release in Adobe Acrobat format.
For additional information please contact:
Martín Gomez
(713) 853-9757
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