Astro-Med, Inc. Completes Acquisition of Miltope Aerospace Printer Business
WEST WARWICK, RI -- (Marketwired) -- 02/12/14 -- Astro-Med, Inc.
(NASDAQ: ALOT), a leading provider of advanced technology printing
and data acquisition systems, announced that the acquisition of
Miltope Corporation's line of ruggedized aerospace printers was
completed on January 22, 2014 for approximately $6.7 million. The
acquisition was funded from cash on hand.
Astro-Med had previously announced that it entered into a definitive
agreement to acquire Miltope's aerospace printer business on January
The Miltope line of printers expands Astro-Med's product portfolio of
ruggedized printers designed for use in aviation to include several
models of both wide and narrow format printers. In addition the
acquisition significantly strengthens Astro-Med's global geographic
footprint through the addition of a number of airline contracts, from
leading airlines in the Americas, Asia and Europe.
"We are excited for the opportunity to work with more airlines from
across the globe," said Thomas W. Carll, Astro-Med Vice President and
Worldwide Director of Sales. "We welcome Miltope customers to the
Astro-Med flight deck printer family."
The manufacture of Miltope printers, including the popular NP4840,
TP4429 and TP4840, will transition to Astro-Med's factory in West
Warwick, Rhode Island within six months.
To learn more about Astro-Med's aerospace printers, please visit:
About Astro-Med, Inc.
Astro-Med has been designing and manufacturing ruggedized aerospace
printers for more than a decade. These ruggedized printers and
related ruggedized Ethernet switches, which are part of our Test &
Measurement Group, are used in the most demanding military and
commercial environments, including airborne, shipboard, and ground
vehicle applications. Astro-Med is currently furnishing airborne
printers for the Airbus A380 and A400M, the Boeing C-17, B-787,
B-777, B-747, the Lockheed C-130 and the Bombardier 5000/6000
aircraft. Astro-Med is certified to AS9100, the quality management
system specifically designed for manufacturers of aerospace industry
products. Astro-Med is proud to manufacture in Rhode Island, USA.
Additional information about Astro-Med's ruggedized printer products
is available at http://www.astro-med.com/ruggedized_products.
Safe Harbor Statement
This news release contains forward-looking statements, and actual
results may vary from those expressed or implied herein. Factors that
could affect these results include those mentioned in Astro-Med's
FY2013 annual report and its annual and quarterly filings with the
Securities and Exchange Commission.
Thomas W. Carll
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