Printer Friendly

BALDWIN TO WITHDRAW FROM BUSINESS SEGMENT AND RECORD SPECIAL CHARGE IN FOURTH QUARTER

 BALDWIN TO WITHDRAW FROM BUSINESS SEGMENT
 AND RECORD SPECIAL CHARGE IN FOURTH QUARTER
 ROWAYTON, Conn., June 25 /PRNewswire/ -- Baldwin Technology Company Inc. (AMEX: BLD) announced today that the company has decided to sell or otherwise dispose of its Thermographic and Forms Handling Equipment subsidiaries. Wendell M. Smith, chairman, stated that D. John Youngman, recently appointed head of Baldwin Europe Consolidated, has moved to streamline European operations. The company is currently in discussions with several parties regarding the potential sale of its two operating units involved in this segment of the industry. The company expects to record a one-time charge of approximately $7.6 million during its fiscal fourth quarter ending June 30, 1992, primarily due to this decision.
 Baldwin entered the Thermographic and Forms Handling Equipment business in 1988 when it acquired ECAMO, S.A., a French corporation, and subsequently, its U.S. counterpart, SPM, Inc., in 1991. With products outside the mainstream of Baldwin's other businesses, these operating units serve small printers, a segment of the industry that has been particularly hard hit during the recent recession. Smith concluded, "the action being taken is as a result of the company taking a critical look at how that particular product line fits into our future plans."
 Baldwin Technology Company, Inc. is a leading multinational manufacturer of material handling, accessory, control and pre-press equipment for the printing industry.
 -0- 6/25/92
 /CONTACT: Helen P. Oster of Baldwin Technology, 203-866-3497/
 (BLD) CO: Baldwin Technology Company Inc. ST: Connecticut IN: PUB SU:


SM-TS -- NY013 -- 3624 06/25/92 08:54 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 25, 1992
Words:259
Previous Article:WITCO REPORTS RECORD SALES AND IMPROVED NET EARNINGS FOR SECOND QUARTER AND SIX MONTH RESULTS
Next Article:MULTIMEDIA REPORTS NET EARNINGS FOR SECOND QUARTER
Topics:


Related Articles
BF GOODRICH REPORTS FOURTH QUARTER AND 1991 RESULTS
BF GOODRICH QUARTERLY RESULTS REFLECT IMPROVEMENT OVER FOURTH QUARTER
HOUGHTON MIFFLIN COMPANY REPORTS 1992 RESULTS
BF GOODRICH ANNOUNCES 1992 NET INCOME OF $2.5 MILLION, EXCLUDING NON-RECURRING ITEMS
ARMCO REPORTS FOURTH QUARTER, FULL YEAR 1992 RESULTS
CLARCOR REPORTS FOURTH QUARTER AND FISCAL 1995 RESULTS
DEAN FOODS REPORTS FOURTH QUARTER AND FISCAL YEAR SALES AND EARNINGS
Dean Foods Reports Record Sales and Earnings for The Fourth Quarter and Fiscal Year
Halliburton Reports 1998 Fourth Quarter.
TriMas Corporation Reports Fourth Quarter and Full Year Results.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters