JOHNSTON, Iowa -- ICrystal Inc. (ICRI) has entered into an agreement to acquire all of the outstanding stock of ALL Energy Company, a Johnston, Iowa-based ethanol company.



"This is the first real step in our efforts to bring increased enterprise value to our shareholders through our team's expertise in the ethanol space," said ICRI's President, Dean Sukowatey. "As our progress in developing ALL Energy's business footprint continues, we remain confident that, over time, we will be successful in achieving our business objectives."



ICRI's management see no impediment to closing. The acquisition is being made solely for ICRI common stock and is expected to close in the near future.



ALL Energy Company was organized to operate as an ethanol producer, focusing primarily on the production and sale of ethanol and its co-products.



ALL Energy Company, a Johnston, Iowa-based ethanol company, recently acquired control of ICRI from an existing shareholder and new management was installed. ICRI's new management intends to have ICRI acquire all of the outstanding stock of ALL Energy Company, thus making ALL Energy Company a subsidiary of ICRI.



Until the change-in-control transaction described above, ICRI operated as a publisher of Web pages. In conjunction with this transaction, all of the assets, liabilities and goodwill of ICRI associated with its web-page publishing business were assigned to a wholly-owned subsidiary, Venus Associates, Inc., the name of which will be changed to reflect better the operations of that company (the Subsidiary).



SOURCE: ICrystal Inc. via Market Wire.