The Majestic Cos. has signed a binding letter of intent to acquire the assets and intellectual property rights of Advanced Intellectual Properties (AIP) – assets that include patent-pending technology for a recyclable diesel engine filter system.
San Diego-based Majestic said the purchase of the assets and technology holdings of the privately held AIP has been structured as a combination of stock and a five-year, fixed-ceiling profit sharing agreement. Included in the acquisition is Refilter, a recyclable, diesel-engine filter system designed to meet upcoming 2007 federal emission standards.
Majestic is a holding company that manufactures and markets safety related products, including the Safe-T-Bar school bus occupant restraint system and the Safe-T-Gard, a wheel guard/deflector shield for school buses.
