On April 28, news, latest news, the lighting and LED display
company LSI Industries will be sold for about $12 million of its manufacturing plant is located in New Windsor New york, its production will be transferred to the company is located in Kentucky independent city (
And the blue with grey, Ohio (
In the factory.
The deal is expected to end on or before June 30.
'Sell New York factory is an important strategic steps, it can improve the operation efficiency, simplify the supply chain, and can reduce the fixed costs about $4 million, a year' LSI Industries, President and chief executive Jim Clark said.
'Sell assets in cash income allows us to at the same time of lower leverage, carry out targeted value-added investment, to support the long-term growth of the business.
'It is reported, LSI in October 2018, announced the closure of factories, New York, the factory of indoor lighting products have been passed on to LSI in Cincinnati blue gray independent factory production, after New York factory, 140 employees are transferred to the blue and grey,
News, according to the outside world can not contact with LSI for comment on this deal.
Selected by the buyer, the full market price and other details are not disclosed in announcing the deal of a statement.
LSI, President and chief executive Jim Clark said the sale of New York factory is the company's continued development of an important strategic step, will improve the company's operating efficiency, streamline supply chain, and is expected to reduce the annual fixed costs $4 million.
In addition, the asset sales generated cash to help the company reduced leverage, at the same time the company will continue to pursue targeted value-added investment, to support the business development for a long time.
The data shows, LSI, founded in 1976, is headquartered in Ohio, a total of seven factories in the United States, employs more than 1200 employees.
Company is mainly in the United States, Canada, Australia and Latin America through the design, graphics offers a variety of indoor and outdoor lighting products, lighting control, the visual system solutions.
Produce all kinds of lamps and lanterns and LED display, image, narrowcasting data systems, such as its core strategy is to 'lighting + + graphics technology = complete image solution', allowing it to distinguish with competitors.
Currently has more than 1200 employees, has several factories in the United States, is a major market leader, its services include stadium, oil, automobile, fast-food restaurants, grocery stores, Banks, retail, decorate, parking and storage, etc.
The company's products are divided into four parts: lighting, graphics, technology.
Among them, the main lighting department, convenience stores, fast service for oil and automobile market, commercial, industrial and retail market production and marketing of outdoor and indoor lighting, lighting control products, etc. , mainly provide outer region, the interior and landscape lighting, lighting control, light pole, light layout, lighting system design services and solid-state leds solution, etc.
Courier, according to research by LSI is Cincinnati large listed companies, 22 fiscal 2017 revenue. 3.
313. 9 billion dollars.
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