Cybex International to Relocate California Operations.Business Editors MEDWAY, MA--(BUSINESS WIRE)--June 27, 2000 Cybex International, Inc. (AMEX AMEX See: American Stock Exchange : CYB CYB Canada Year Book (Historical Collection) CYB Cayman Brac Island, Cayman Islands (Airport Code) CYB Cover Your Butt CYB Carlsbad Youth Baseball (Carlsbad, California) ), a leading strength and cardiovascular equipment company, announced today that it will relocate the cardiovascular equipment assembly and Product Development operations currently performed in Irvine, California Irvine is an incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28 1971, the 69.7 square mile (180.5 km²) city has a population of 202,079 (as of 2007). , to the company's Medway, Massachusetts Medway is a town in Norfolk County, Massachusetts, United States. The population was 12,448 at the 2000 census. History Medway was first settled in 1657 and was officially incorporated in 1713. , facility. The closing of the Irvine facility will result in a charge against second quarter earnings. Peter C. Haines, President and Chief Executive Officer of Cybex, said, "We anticipate that the increased efficiencies we achieve by consolidating Product Development and production of all cardiovascular products into one facility will widen margins and contribute to profitability in the future." Haines added, "This move is expected to reduce both product cost and operating cost, as well as speed up shipment and delivery of these important Cybex products to our principal markets." Cybex International, Inc. is a leading manufacturer of premium performance cardiovascular and strength training equipment for consumer and commercial use. Cybex and the Cybex Institute, a training and research facility, are dedicated to improving human performance based on an understanding of the diverse goals and needs of individuals of varying physical capabilities. Cybex designs and engineers each of its products and programs to reflect the natural movement of the human body, allowing for variation in training and assisting each unique user -- from the professional athlete to the rehabilitation patient -- to improve their daily human performance. For more information on Cybex and its product line, please visit the company's web site at www.eCybex.com. This news release may contain forward-looking statements. 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, and uncertainties relating to the consolidation of the merged and acquired companies' businesses. Further information on these and other factors which could affect the Company's financial results can be found in the Company's previously filed Reports 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, 1999, its Form 10-Q Form 10-Q See 10-Q. for the period ending March 31, 2000, 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 18, 2000. |
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