Christopher-- Here is great new on a 1995 bowser pick, THM.
It has a pe of 6.3!!!!!!!!!!>>>>Wednesday September 3 11:36 AM EDT
Company Press Release
Source: Thermwood Corporation
Thermwood Opens Vienna Office; Enters European
Market for Woodworking Equipment 50 Percent Larger
Than U.S. Market
DALE, Ind., Sept. 3 /PRNewswire/ -- Thermwood Corporation (Amex:THM) announced today
the opening of its Vienna office, marking the Company's next step in its entry into a European
woodworking equipment market estimated at between $1.2 billion to $1.5 billion in annual sales
with CNC routers accounting for approximately 10 percent of this market.
The European woodworking industry is based primarily in Germany and Italy, where the Company
has identified strong demand for CNC routers. These are lower-cost, computerized machine tools
used to make furniture, cabinets, store fixtures, musical instruments and boat and motorhome
interior. Plastics manufacturers also use CNC routers to trim parts for cars, signs, appliances,
airplanes and home interiors.
Thermwood is the leading manufacturer of CNC routers in the U.S. and through the first nine
months of fiscal 1997 ended April 30, posted record sales of $13,240,024, a 27% increase over
the year ago period. The U.S. market for woodworking equipment is estimated at $900 million to
$1 billion per year, with CNC routers accounting for approximately $100 million of that total.
``We see many opportunities to expand our sales overseas, especially in western Europe, and last
year we opened a sales office and demonstration plant in the north of England,'' said Kenneth J.
Susnjara, President and Chief Executive Officer. ``We are entering the European market with
lower cost, superior technology and greater ease of programming. These are the same advantages
which have helped us expand our market share and drive our growth in the U.S.''
Thermwood's Vienna office will serve as a sales and marketing location, using the Company's
Durham, England facility for service, support and product demonstration. The Vienna office also
allows Thermwood to participate more frequently in machine tool trade shows across Europe as it
does in the U.S., where the features, advantages and benefits of various systems and technologies
are showcased for prospective customers.
``Our cost advantages are even greater overseas than in the U.S., since manufacturing and
distribution costs are higher in Europe,'' said Susnjara. ``We also enjoy a significant technology
advantage. The technology of our European competitors tends to be several years behind the U.S.
Combined with the cost savings our machines offer, we believe this will sway the market in our
favor.''
The Company patents an average of one technological innovation per month, and anticipates
increased sales resulting from customer demand for product enhancements which are new to the
European market, such as Thermwood's programming probe, which allows a routing machine to
be programmed by simply guiding a hand-held probe around a part. The Company is also utilizing
an aggressive marketing strategy to reach European customers as it does in the U.S., where it
accounts for approximately one-third of all the trade advertising for CNC routers.
``Currently about 15 percent of our sales are from outside the U.S. and we've already sold a
number of machines to European customers,'' concluded Susnjara. ``We anticipate export sales
will rise faster than U.S. sales over the next few years and would not be surprised to have
international revenues eventually account for half our business.''
Thermwood Corporation is headquartered in Dale, Indiana and is a leading manufacturer of CNC
routers. This equipment consists of a low-cost, computer-based production system that is easy to
program and can change from one job to another with little or no set-up time required. These
computerized machine tools are used in a wide variety of applications, including furniture- making
and architectural components, as well as the automotive, aerospace, appliance and homebuilding
industries.
Forward-looking statements in this release are made pursuant to the ``Safe Harbor'' provision of
the Private Securities Litigation Act of 1995. Investors are cautioned that actual results may differ
substantially from such-forward looking statements. Forward-looking statements involve risks and
uncertainties, including but not limited to, continued acceptance of the Company's products in the
marketplace, competitive factors, new products and technological changes, the Company's
dependence on third-party suppliers and other risks detailed from time to time in certain of the
Company's filings with the Securities and Exchange Commission.
Visit Thermwood's website at www.thermwood.com |
