LSI INDUSTRIES COMPLETES SALE OF NORTH CANTON, OHIO FACILITY
LSI Industries Inc. (LYTS)
Last lsi industries inc. earnings: 4/23 06:30 am
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US:NASDAQ Investor Relations:
lsiindustries.gcs-web.com/investor-overview
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Source: GlobeNewswire
CINCINNATI, March 18, 2020 (GLOBE NEWSWIRE) -- LSI Industries Inc. (NASDAQ: LYTS, “LSI” or the “Company”) a leading U.S. based manufacturer of indoor/outdoor lighting and graphics solutions, today announced that the Company has completed the sale of its North Canton, Ohio manufacturing facility. The Company is in the process of relocating its existing operations to a smaller, leased facility in the North Canton area while retaining its existing workforce. As previously disclosed, recent advancements in graphics technology, together with other productivity improvements, allowed for a significant reduction in square footage required to support the ongoing growth of the business. The production transition will be fully completed by June 2020. LSI has received $7.6 million in net proceeds from the sale of the North Canton facility. The Company intends to use these net proceeds to reduce outstanding indebtedness while continuing to invest selectively in the ongoing growth of the
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