Kewaunee Scientific Corporation Announces Sale of Texas Facility
18 Mai 2005 - 11:32PM
PR Newswire (US)
Kewaunee Scientific Corporation Announces Sale of Texas Facility
STATESVILLE, N.C., May 18 /PRNewswire-FirstCall/ -- Kewaunee
Scientific Corporation (NASDAQ:KEQU) today reported the sale of its
building and land in Lockhart, Texas to a non-affiliated third
party for $2,500,000 in cash. The site was the former location of
the Company's technical furniture operation which was consolidated
in Statesville in fiscal year 2003. The sale was completed on May
13, 2005. The sale will be recorded in the Company's first quarter
ending July 31, 2005 and will result in a pretax gain of
approximately $885,000 and an after- tax gain of approximately
$540,000, or $0.22 per diluted share. The net cash proceeds of
approximately $2,300,000 from the sale will be used for working
capital and to reduce short-term borrowings. Kewaunee Scientific
Corporation is a recognized leader in the design, manufacture, and
installation of scientific and technical furniture. The Company's
corporate headquarters and manufacturing facilities are located in
Statesville, North Carolina. Kewaunee Scientific's website is
located at http://www.kewaunee.com/ . Contact: D. Michael Parker
(704) 871-3290 DATASOURCE: Kewaunee Scientific Corporation CONTACT:
D. Michael Parker of Kewaunee Scientific Corporation,
+1-704-871-3290 Web site: http://www.kewaunee.com/
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