American Locker Completes Relocation and Consolidation of New York Operations
DFW AIRPORT, Texas--(BUSINESS WIRE)-- American Locker Group Incorporated (OTCQB: ALGI), a recognized leader in secure storage solutions, today announced it has completed the previously announced relocation and consolidation of its Ellicottville, New York operations into its DFW Airport facility. The Ellicottville operations manufactured and serviced the iconic orange key and lock system.
The Company made the decision to consolidate its orange key and lock operation with its Texas metal fabrication facility as part of its ongoing strategy to streamline operations, improve customer service and reduce costs.
Previously, American Locker had to ship keys and locks from New York to be mated with lockers in Texas before delivery to customers. As a result, one of the immediate benefits of this consolidation will be to shorten lead times, thereby enabling ALG to fill customer orders more quickly.
American Locker estimates that this move will provide an additional benefit insofar as it will generate annual payroll, occupancy and transportation savings of $240,000. The full effect of these savings will start being recognized in the first quarter of 2013.
"American Locker is known not only for the highest quality products, but also for outstanding customer service. We relocated our key and lock operations, in part, so we could continue to provide the best customer service in the industry," said Paul M. Zaidins, American Locker's President and Chief Executive Officer. He added, "Our decision to relocate the lock operation is a rare opportunity to improve performance while lowering costs, a combination that provides value to customers and stockholders alike."
In the interest of providing Company stockholders and potential investors with information regarding the Company, including the Company's assessment of its future plans and operations, certain statements included in this press release may constitute forward-looking information or forward-looking statements (collectively, "forward-looking statements"). All statements contained herein that are not clearly historical in nature are forward-looking, and the words "anticipate", "believe", "expect", "estimate" and similar expressions are generally intended to identify forward-looking statements. Actual events or results may differ materially. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company and the foregoing list of important factors is not exhaustive. These forward-looking statements made as of the date hereof disclaim any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. Company stockholders and potential investors should carefully consider the information contained in the Company's filings with United States securities administrators at www.sec.gov before making investment decisions with regard to the Company.
About American Locker Group Incorporated
American Locker is a premier metal fabricator of secure storage solutions under the American Locker and Canadian Locker brands. The Company is best known for manufacturing and servicing the widely-utilized key and lock system with the iconic plastic orange cap. The Company also has a growing precision sheet metal fabrication business. Its Security Manufacturing Corporation subsidiary is a leading provider of multi-tenant mailboxes.
Further information about American Locker is available at www.americanlocker.com
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American Locker Group Incorporated
Paul Zaidins, 817-329-1600
President and Chief Executive Officer
KEYWORDS: United States North America New York Texas
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