CYBEX Expands and Updates Manufacturing Capabilities.Opens New, $15 Million Facility in Owatonna, MN MEDWAY, Mass. -- Cybex International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CYBI) today announced that it has opened a new, $15 million, 340,000 square foot eco-friendly manufacturing facility in Owatonna, MN. A leading manufacturer of premium exercise equipment for the commercial and consumer markets, CYBEX's completion of the new facility marks a significant improvement to its U.S. operations. This facility is expected to serve projected growth and to generate significant manufacturing efficiencies over time. The Company's new location is less than one mile from the original Owatonna facility which had been the site for manufacturing strength training equipment since 1985. John Aglialoro, CYBEX's Chairman and Chief Executive Officer, commented, "The expansion marks a new phase of innovation and is also an example of our disciplined approach to growth. We're investing in our employees and our processes and believe that with a sound workforce and progressive manufacturing capabilities, we will continue to grow our business and reinforce our brand with the high levels of quality control and the short lead times that are absolutely critical to our business." The facility, projected to enhance CYBEX's manufacturing while also maintaining its Owatonna employee base, is 70 percent larger than the previous plant. It has 275,000 square feet of manufacturing space with expandable capabilities of up to 490,000 square feet. This includes 35,000 square feet of office space and 30,000 square feet of warehouse space. The Company's focus on manufacturing efficiencies will continue with a new $3.5 million state-of-the-art powder coat paint electrostatic Stationary electrical charges in which no current flows. For example, laser printers and copier machines place a positive charge of the image on a drum, and negatively charged toner is attracted onto the drum. The toner is then transferred to positively charged paper and fused to the paper by heat. system, robotic weld cells and a tube laser. The building is designed to be environmentally sound and incorporates natural lighting and water recycling systems that provide cost-savings on maintenance and efficient energy consumption, while reducing green house gases and mercury pollution. The 36 acre area surrounding the facility will be seeded for the use of wildlife and natural foliage. "CYBEX's new facility is the type of high-quality investment we need for the Owatonna community, Southern Minnesota and our entire state to remain competitive and growing," Minnesota Governor Tim Pawlenty Timothy James (Tim) Pawlenty (born November 27, 1960) is an American politician from the Republican Party. He is the 39th and current Governor of Minnesota, and started his term on January 6, 2003. said. "The Company's entrepreneurship, energy and commitment have fueled the need for this new facility and it's a great example of real economic growth, maintaining and creating good jobs, and enhancing our state's long-term prosperity." Although CYBEX was pursued by other communities to relocate, it was Owatonna's support coupled with CYBEX's commitment to its existing workforce and providing a better quality of life for those employees that made the new location ideal. Twenty two teams of employees were involved in the 27 months of project planning project planning - project management . As part of the new capital investment, CYBEX trained its veteran workforce to supervise and interact with robotics robotics, science and technology of general purpose, programmable machine systems. Contrary to the popular fiction image of robots as ambulatory machines of human appearance capable of performing almost any task, most robotic systems are anchored to fixed positions and the industry's most advanced equipment. "CYBEX earned broad-based support for its vision from the Owatonna community and Steele County Steele County is the name of several counties in the United States:
CYBEX recently launched a home line of products and introduced a new hospitality division with plans to expand its presence in hotels, resorts and spas, adding to existing complimentary product line offerings for the marketplace. CYBEX produces and ships premium exercise equipment including treadmills, cardiovascular and strength equipment to more than 80 countries around the globe. NOTE TO EDITORS: Photo images and video of the facility are available. Media tours of the facility are also available upon request. About CYBEX Cybex International, Inc. is a leading manufacturer of premium exercise equipment for commercial and consumer use. The CYBEX product line includes a full range of both strength training and cardio Cardio is the medical term used to reference the heart. From Greek kardia: heart. The Greek spelling using k is the reason for the usage of K in EKG (electrocardiogram). training machines sold worldwide under the CYBEX brand. Products and programs are designed and engineered to reflect the natural movement of the human body, assisting each unique user -- from the professional athlete to the first-time exerciser -- to improve daily human performance. For more information on CYBEX and its product line, please visit the Company's website at www.cybexinternational.com. This news release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . There are a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made above. These include, but are not limited to, competitive factors, technological and product developments, market demand, economic conditions, the resolution of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. involving the Company, and the ability of the Company to comply with the terms of its credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities . Further information on these and other factors which could affect the Company's financial results can be found in the Company's previously filed Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2006, its Reports on Form 10-Q Form 10-Q See 10-Q. , its Current Reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , and its proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. dated April 10, 2007. |
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