Corporate Profile for Prab Inc., dated Oct. 6.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and information services See Information Systems. . These include Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News/Retrieval, Bloomberg Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America OnLine See AOL. , CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier, NewsBank, Information Access Company and many others. -0- Published date: Oct. 6, 1995 Company name: Prab Inc.
Address: P.O. Box 2121
Kalamazoo, MI 49003
Telephone No.: 616/382-8200 Chief Executive Officer: Gary Herder Controller: Robert Klinge Investor Relations Contact: Robert Klinge Business number: 616/382-8280 Public Relations Contact: Robert Klinge Business number: 616/382-8280 Trading symbol: PRAB - Over the Counter - Pink Sheets
Industry: Manufactures Conveyors, Metal Scrap Reclamation
Systems and Bulk Material Handling Equipment.
Market Makers: Roney and Company, First of Michigan, Hurzog,
Paragon Capital, Wilson Davis
Company description: The company is a Michigan corporation organized in 1961. The company consists of two conveyor Conveyor A horizontal, inclined, declined, or vertical machine for moving or transporting bulk materials, packages, or objects in a path predetermined by the design of the device and having points of loading and discharge fixed or selective. divisions: (1) "Prab Conveyors" designs and manufactures a complete line of conveyors for the collection and transportation of metal scrap, chip processing systems, coolant coolant (kōō´l  nt),n recovery systems and distribution systems; (2) "Hapman Conveyors" manufactures a line of bulk handling conveyors for the chemical, food, and pharmaceutical industries, and municipal water and sewage treatment Sewage treatment Unit processes used to separate, modify, remove, and destroy objectionable, hazardous, and pathogenic substances carried by wastewater in solution or suspension in order to render the water fit and safe for intended uses. plants. The company sells its products worldwide through a network of factory sales engineers, manufacturers' agents, distributors and licensees. Annual sales in 1994 were $9.9 million and are expected to be above $13.0 million in 1995. The company recorded a record net income in 1994 of $1.0 million and expects to exceed $1.0 million in 1995. Stock prices have ranged from a low bid in 1993 and 1994 of $0.25 to the September, 1995, trading price Trading price The price at which a security is currently selling. of $1.75. The company's return to profitability in 1993 and continuation of profits into 1994 and 1995 has improved the financial condition of the company and provided funds used for early payoff of a major portion of long term debt with the possibility of being debt free by the end of fiscal year 1995. CONTACT: Prab Inc. |
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