A real fire sale.
Fire Destroys Production Facility
Friday January 19, 10:53 am ET
ARMSTRONG, Iowa, Jan. 19 /PRNewswire-FirstCall/ -- Art's-Way Manufacturing Co., Inc. (Nasdaq: ARTW - News), today (January 19, 2007) announced that a fire occurred late Tuesday evening at Art's-Way Scientific Monona, Iowa which destroyed the building housing offices and the production area.
Fortunately there were no reported injuries. Additionally the server and computer files were recovered undamaged. Due to the nature of the business and the existence of another nearby building it is expected all projects will proceed as planned. Currently Scientifics management and employees are actively acquiring needed tools and resources to commence building structures in the next few days.
Over the course of the next few days Art's-Way's management will be addressing the situation with the intent of continuing to grow this important part of the company's business.
Art's-Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet and potato harvesting equipment, edible bean equipment, land maintenance equipment, finished mowing, crop shredding equipment and seed planting equipment. Art's-Way also produces haylage machinery for several original equipment manufactures (OEM's). Starting in fiscal 2004, the Company is manufacturing moldboard plows under its own label under a license agreement with CNH. Art's-Way also manufactures and distributes truck bodies used in the agricultural, industrial and commercial industries. After market service parts are also an important part of the Company's business. Our wholly owned subsidiary Art's-Way Vessels Inc. manufactures pressurized tanks and vessels.
This news release includes "forward-looking statements" within the meaning of the federal securities laws. Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company's products, domestic and international economic conditions, the management of growth and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Actual results may differ markedly from management's expectations. The Company cautions readers not to place undue reliance upon any such forward-looking statements.
Source: Art's-Way Manufacturing Co., Inc.
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