Printer Friendly

SI HANDLING SYSTEMS REPORTS STOCK TRANSACTION

 EASTON, Pa., Dec. 14 /PRNewswire/ -- SI Handling Systems, Inc. (NASDAQ-NMS: SIHS) said today that its major shareholder, Sven-Erik Ronnerstrom, of Switzerland, disposed of all his common stock holdings in the company on Friday, Dec. 10.
 Ronnerstrom's 484,232 shares, representing 29.7 percent of the company's outstanding common stock, were sold in a private transaction for $5,084,436 or $10.50 per share, pursuant to an option granted Glaser Capital Management, Inc., New York, on Nov. 5, 1993.
 The purchasers were a number of institutional funds and individuals, led by The Vision Fund, LP, which purchased the shares for investment purposes.
 SI Handling Systems, Inc., headquartered in Easton, provides total systems solutions for a wide variety of automated materials handling applications. SI's shares trade on the NASDAQ market, where its high, low and closing prices on Friday, Dec. 10, 1993, were 13-1/2. The company's management said it does not expect the change in ownership to have a material effect on its operations.
 /delval/
 -0- 12/14/93
 /CONTACT: Leonard S. Yurkovic, president and chief executive officer of SI Handling Systems, 215-252-7321/
 (SIHS)


CO: SI Handling Systems, Inc. ST: Pennsylvania IN: SU:

LJ-MK -- PH004 -- 3550 12/14/93 10:05 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 14, 1993
Words:202
Previous Article:POST-GAZETTE NAMES NEWSPAPER EXECUTIVE AS NEW DIRECTOR OF FINANCE
Next Article:INCOMED CORP. SIGNS LETTER OF INTENT
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters