Geminex Industries Plans to Buy Teskey Enterprises

Geminex Industries, formerly known as Cointel Corp., said it has agreed to buy Teskey Enterprises in Huntington Beach for $2.5 million.

Teskey, a private company, makes locks, hinges, handles and latches. Geminex, a public company in Calabasas whose stock trades over the counter, operates 2,800 video games in movie theater lobbies through its General Amusement Corp. subsidiary.

Geminex said it is seeking to raise $4.5 million, with $2.5 million designated for the Teskey purchase and $2 million for future acquisitions. Once it buys Teskey, Geminex said, it expects to apply to be listed on the National Assn. of Securities Dealers Automated Quotation system, a computerized method of providing brokers with up-to-the-minute stock prices.