Astro-Med Sells Excess Real Estate for $6.1 Million
WEST WARWICK, RI, Sep 28, 2006 (MARKET WIRE via COMTEX News Network)
-- Astro-Med, Inc. (NASDAQ: ALOT) has completed the Real Estate Purchase
Agreement with Hanover R.S. Limited Partnership for the sale of approximately
24.7 acres in Braintree, Massachusetts for $6,100,000 in cash.
Astro-Med's Braintree
manufacturing operation is being relocated to a modern facility in nearby
Rockland, Massachusetts. That move will be completed prior to the end
of the Company's Fiscal Third Quarter ending October 28, 2006.
Astro-Med will report
profit results of the sale in their Third Quarter earnings report that
will be released on November 14th, 2006.
Astro-Med, Inc. is a leading manufacturer of high tech specialty printing
systems, electronic medical instrumentation, and test and measurement
instruments employed around the world in a wide range of industrial,
scientific, and medical applications. More information about Astro-Med,
Inc. can be found at www.astro-medinc.com.
Safe Harbor Statement
This news release contains forward-looking statements, and actual results
may vary from those expressed or implied herein. Factors that could
affect these results include those mentioned in Astro-Med's FY2004 annual
report and its annual and quarterly filings with the Securities and
Exchange Commission.
Contact:
Albert W. Ondis
Joseph P. O'Connell
Astro-Med, Inc.
(401) 828-4000
SOURCE: Astro-Med, Inc. .
