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Non-Tech : LIFEWAY FOODS (LWAY) -- Ignore unavailable to you. Want to Upgrade?

To: mark cox who wrote (270)	10/11/1998 12:50:00 AM
From: mark cox	Respond to of 352

Lifeway's expansion is now two years in the making. In October 1996, LWAY acquired the building which would become there new plant. They paid $1.3 million for just the building. In 1997 they spent another $1.3 million for equipment to install in that building. In 1998 for the first 6 months, they have spent another $220,000. The total amount of money spent so far on the new facility has been $2.9 million. I thought it was worth mentioning that out of all that capital spent to expand LWAY's production capabilities, they only borrowed $919,000 from the bank and that was for the mortgage on the $1.3 million building. This means that 66% of this expansion has been paid for by cash generated from the business. Right now they are still purchasing new equipment. It has been a long two years bringing the new facility to this point but at least they don't have an additional $2 million in long term debt to pay off. Mark