SI Handling Systems Wins Multi-Million Dollar Government Agency Contract|
EASTON, Pa., Feb. 29 /PRNewswire/ -- SI Handling Systems, Inc. (Nasdaq: SIHS - news), (``SI' or the ``Company'), announced that it was awarded a multi-million dollar contract by a major government agency. The contract also provides for an option worth several million dollars, which, if funding becomes available, the agency could exercise later this year.
This systems integration contract specifies SI as the successful offeror and mechanization contractor to refurbish an existing SI proprietary conveyor system that the Company had installed in 1973 at the government facility. SI will be providing turnkey system services to engineer, manufacture, and install new Lo-Tow© system components and electrical controls for a complete system modernization, retrofit, and expansion. The Lo-Tow© systems were chosen for their proven reliability, flexibility, and throughput capabilities.
Bill Johnson, President and CEO, said, ``We are pleased to have been chosen as the preferred vendor for this contract to renew and modernize their facility. To get this project off to a strong start, the Company will participate in a project kickoff conference with our customer that is tentatively scheduled for March 13, 2000.'
With headquarters in Easton, PA, SI Handling Systems, Inc. markets, designs, manufactures, installs, and services fully automated, integrated material handling systems and Ermanco's conveyor systems that improve productivity in manufacturing and increase the speed of delivery of products in most market categories by companies worldwide.
Cautionary Statement. Certain statements contained herein are not based on historical fact and are ``forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities and Exchange Commission rules, regulations, and releases. SI intends that such forward-looking statements be subject to the safe harbors created thereby. Among other things, the forward-looking statements regard SI's acquisition activities, earnings, liquidity, financial condition, and certain operational matters. Words or phrases denoting the anticipated results of future events, such as ``will,' ``continue,' and similar expressions that denote uncertainty, are intended to identify such forward-looking statements. SI's actual results, performance, or achievements could differ materially from the results expressed in, or implied by, such ``forward-looking statements': (1) as a result of risks associated with SI's restructuring, including the failure to achieve anticipated operating savings, and the possibility that the restructuring charges will be greater than anticipated; (2) as a result of risks and uncertainties associated with the Ermanco acquisition, including the failure to realize anticipated benefits of such acquisition, the failure to integrate Ermanco successfully with SI and any unforeseen complications related to the Ermanco acquisition; (3) as a result of factors over which SI has no control, including the strength of domestic and foreign economies, sales growth, competition, and certain cost increases; or (4) if the factors on which SI's conclusions are based do not conform to its expectations.