DESIGNATRONICS REPORTS SALE OF SUBSIDIARY
DESIGNATRONICS REPORTS SALE OF SUBSIDIARY NEW HYDE PARK, N.Y., June 23 /PRNewswire/ -- Designatronics Inc.
(AMEX: DSG) today announced the sale of the existing inventory, fixed assets, remaining backlog and the name of its Accusonic Systems subsidiary to Global Market Development Inc. The sale of these assets of Accusonic Systems, a manufacturer of severe environmental loudspeakers and other communication devices, represents the first step in the company's decision to investigate, and if feasible, divest itself of its electronic operations. The company believes that the discontinuance of its Accusonic subsidiary will have a minimal effect on overall sales and book value of the company and a positive influence in improving the company's earnings.
Designatronics Inc. designs, manufactures and markets a wide array of mechanical, electro-mechanical and electronic components and sub- assemblies. The company's products are distributed worldwide for use in factory automation, robotics, computer peripherals and telecommunications equipment. -0- 6/23/92 /CONTACT: Sol Schwartz, president, Martin Hoffman, senior vice president, or Victor Francois, assistant controller, 516-328-3300, all for Designatronics/ (DSG) CO: Designatronics Inc. ST: New York IN: SU: TNM
PS-LR -- NY035 -- 2810 06/23/92 11:23 EDT
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|Date:||Jun 23, 1992|
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