InVitro Pays Shares to Ropak Corp.
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FULLERTON — Ropak Corp. said Wednesday that it has received 309,104 common shares of InVitro International to settle royalties and debt InVitro owes the Fullerton manufacturer.
Ropak also announced that it will write down a 1-million share investment in InVitro at a value of $1 a share. As part of the move, a charge of $1.7 million will be made against third-quarter earnings.
Ropak will now hold 1.3 million shares of InVitro’s common stock, or 24%. InVitro, based in Irvine, makes testing systems to analyze raw materials and chemical formulations.
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