Bairnco Announces Sale of East Providence Facility
17 Dezember 2004 - 11:19PM
PR Newswire (US)
Bairnco Announces Sale of East Providence Facility LAKE MARY, Fla.,
Dec. 17 /PRNewswire-FirstCall/ -- Bairnco Corporation (NYSE:BZ)
today reported the sale of Arlon's East Providence, Rhode Island
facility. The facility was closed during the third quarter 2004
after the final relocation of operations and equipment to the San
Antonio, Texas facility were completed as part of Arlon's
industrial businesses consolidation. The sale will result in a
pre-tax gain of approximately $1.2 million in the fourth quarter.
Bairnco Corporation is a diversified multinational company that
operates two distinct businesses -- Arlon (Electronic Materials and
Coated Materials segments) and Kasco (Replacement Products and
Services segment). Arlon's principal products include
high-technology materials for the printed circuit board industry,
cast and calendered vinyl film systems, custom-engineered laminates
and special silicone rubber compounds and components. Kasco's
principal products include replacement band saw blades for cutting
meat, fish, wood and metal, and on-site maintenance primarily in
the meat and deli departments. Kasco also distributes equipment to
the food industry in France. CONTACT: Lawrence C. Maingot, Bairnco
Corporation Telephone: (407) 875-2222, ext. 230 "Safe Harbor"
Statement under the Private Securities Litigation Reform Act of
1995 Statements in this press release referring to the expected
future plans and performance of the Corporation are forward-looking
statements. Actual future results may differ materially from such
statements. Factors that could affect future performance include,
but are not limited to, changes in U.S. or international economic
or political conditions, such as inflation or fluctuations in
interest or foreign exchange rates; disruptions in operations due
to labor disputes; the impact on production output and costs from
the availability of energy sources and related pricing;
renegotiation of the Corporation's Credit Agreement; changes in the
pricing of the products of the Corporation or its competitors; the
market demand and acceptance of the Corporation's existing and new
products; the impact of competitive products; changes in the market
for raw or packaging materials which could impact the Corporation's
manufacturing costs; changes in the product mix; the loss of a
significant customer or supplier; production delays or
inefficiencies; the costs and other effects of legal and
administrative cases and proceedings, settlements and
investigations; the ability to achieve anticipated revenue growth,
synergies and other cost savings in connection with acquisitions
and plant consolidations; the costs and other effects of complying
with environmental regulatory requirements; and losses due to
natural disasters where the Corporation is self-insured. While the
Corporation periodically reassesses material trends and
uncertainties affecting the Corporation's results of operations and
financial condition in connection with its preparation of its press
releases, the Corporation does not intend to review or revise any
particular forward-looking statement referenced herein in light of
future events. DATASOURCE: Bairnco Corporation CONTACT: Lawrence C.
Maingot of Bairnco Corporation, +1-407-875-2222, ext. 230 Web site:
http://www.bairnco.com/
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