Business with Owens-Illinois; Company Expects First-Year Orders of
Approximately $30 Million
ST. LOUIS--(BUSINESS WIRE)--Sept. 12, 2006
LaBarge, Inc. (AMEX: LB) announced today that it has
signed a multi-year contract with Owens-Illinois, Inc. (NYSE: OI) to
expand the Company's sourcing and production of electromechanical
equipment used in the manufacture of glass containers. The Company
anticipates orders in the first year will total approximately $30
LaBarge currently manufactures more than 1,200 different
electronic, electromechanical and mechanical assemblies for O-I,
including control systems, automated optical inspection equipment and
spare parts. The new agreement expands that work. The Company expects
the new production, which will be done at its Pittsburgh facility, to
begin in the second half of the current fiscal year with shipments
ramping up during the third and fourth fiscal quarters.
"O-I is a key customer and we are delighted to expand our
relationship. This is an excellent example of our success in
broadening our involvement with existing customers who desire
LaBarge's capabilities and expertise," said Craig LaBarge, chief
executive officer and president.
Millions of times a day, O-I glass containers, healthcare
packaging and specialty closure systems deliver many of the world's
best-known consumer products to people all around the world. With
leading positions in Europe, North America, Asia Pacific and Latin
America, O-I provides consumer-preferred products that enable superior
taste, purity, visual appeal and value benefits for our customers'
products. Established in 1903, the company employs nearly 30,000
people and has more than 100 manufacturing facilities in 23 countries.
In 2005, annual revenues were $7.2 billion. For more information,
About LaBarge, Inc.
LaBarge, Inc. is a broad-based provider of electronics to
technology-driven companies in diverse markets. The Company provides
its customers with sophisticated electronic products through contract
design and manufacturing services. Headquartered in St. Louis, LaBarge
has operations in Arkansas, Missouri, Oklahoma, Pennsylvania and
Texas. The Company's Web site may be accessed at
Statements contained in this release relating to LaBarge, Inc.
that are not historical facts are forward-looking statements within
the meaning of the federal securities laws. Matters subject to
forward-looking statements are subject to known and unknown risks and
uncertainties, including economic, competitive and other factors that
may cause LaBarge or its industry's actual results, levels of
activity, performance and achievements to be materially different from
any future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. Important
factors that could cause LaBarge's actual results to differ materially
from those projected in, or inferred by, forward-looking statements
are (but are not necessarily limited to) the following: the impact of
increasing competition or deterioration of economic conditions in
LaBarge's markets; cutbacks in defense spending by the U.S.
Government; loss of one or more large customers; LaBarge's ability to
replace completed and expired contracts on a timely basis; the
Company's ability to integrate recently acquired businesses; the
outcome of litigation the Company may be party to; increases in the
cost of raw materials, labor and other resources necessary to operate
LaBarge's business; the availability, amount, type and cost of
financing for LaBarge and any changes to that financing; and other
factors summarized in our reports filed from time to time with the
Securities and Exchange Commission. Given these uncertainties, undue
reliance should not be placed on the forward-looking statements.
Unless otherwise required by law, LaBarge disclaims any obligation to
update any forward-looking statements or to publicly announce any
revisions thereto to reflect future events or developments.
LaBarge, Inc., St. Louis
Colleen Clements, 314-997-0800, ext. 409
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