SI Handling to Increase GM Plant Capacity With Recent Order
9 December 1997
SI Handling to Increase GM Plant Capacity With Recent OrderEASTON, Pa., Dec. 9 -- In its continuing pattern of determined order acquisition, SI Handling Systems, Inc. , The Systems Integrators, has been awarded a $2.2 million order from General Motors that will increase plant capacity by 20 percent at the company's Oklahoma City Vehicle Assembly Plant. "SI has partnered with GM for more than 20 years, offering automation support as the auto manufacturer continues to succeed in the competitive global marketplace," says Len Yurkovic, SI President and CEO. "In fact, SI has a strong niche in auto and truck production and assembly system automation where efficiency, capacity, and low cost are critical factors." This new GM order calls for the expansion of an existing 1995 Cartrac system to increase vehicular production from 60 to 72 cars per hour to meet strong customer demand for the new Chevrolet Malibu and Oldsmobile Intrigue models which were introduced by GM in the fall of 1997. Completion of the installation is scheduled for the first quarter of the 1998 calendar year. With headquarters in Easton, PA, SI Handling Systems, Inc. designs, manufactures, installs and services fully automated, integrated materials handling systems for manufacturers and distributors in most market categories. The Company posted net sales of $24,000,000 for the fiscal year 1997 which ended March 2, 1997. The Company is listed on the Nasdaq National Market under the trading symbol "SIHS." Certain statements contained herein are not based on historical fact and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Among other things, such statements regard the Company's earnings, liquidity, financial condition, and certain operational matters. Words or phrases denoting the anticipated results of future events, such as "anticipate," "believe," "estimate," "expect," "may," "will likely," "are expected to," "continues," "projects," and similar expressions that denote uncertainty are intended to identify such forward-looking statements. Actual results may differ materially (i) as a result of risks and uncertainties identified in the Company's publicly filed reports, (ii) as a result of factors over which the Company has no control, including the strength of domestic and foreign economies, sales growth competition, and certain cost increases, or (iii) if the factors on which the Company's conclusions are based do not conform to the Company's expectations. SOURCE SI Handling Systems, Inc.