Ultrox, Colorado Company Merge
Ultrox International, a Santa Ana water detoxification company, and On-Site Toxic Control Inc., a Colorado corporation, said Wednesday that they have merged in a stock swap.
On-Site Toxic Control, formerly Augusta Financial Inc., will operate Ultrox as a wholly owned subsidiary. The Santa Ana firm will retain the Ultrox name and customers, said David Fletcher, Ultrox president. None of Ultrox’s 16 employees are expected to be affected by the merger, Fletcher said.
Ultrox employees and Share Realty of the Netherlands Antilles had been majority owners of Ultrox. The company manufactures water-treatment equipment that uses ultraviolet radiation, ozone and hydrogen peroxide to destroy toxic substances in industrial waste water and in streams, wells and other sources of drinking water.
Under the merger terms, each holder of privately owned Ultrox’s common stock received about 74 shares of On-Site Toxic Control common stock, while holders of Ultrox preferred shares received 255 On-Site common shares. The deal will increase On-Site’s total common shares outstanding to 234.2 million from 115.2 million.