|Standex Announces the Purchase of ATR Coil Company, Inc|
| SALEM, NH, March 11, 1998 . . . Standex
International Corporation (NYSE:SXI)
announced that it has purchased the Common Stock of ATR Coil Company, Inc. of Bloomington,
IN for an undisclosed amount of stock and cash.|
ATR Coil Company, Inc. is an established manufacturer of electronic coils and windings for the industrial, automotive and consumer markets. The annual sales of ATR Coil Company, Inc. are approximately $4 million dollars.
In announcing the purchase agreement, Edward J. Trainor, President and CEO of Standex stated, "The strategic acquisition of ATR Coil Company, Inc. by Standex Electronics will add additional product lines to enhance its existing sales of electronic components and assemblies to its automotive and industrial customers. Standex Electronics, with production facilities in the United States, United Kingdom and Mexico, manufactures and sells various electronic components, assemblies and connectors to the automotive, communications, refrigeration, air conditioning and industrial power supply industries."(1)
Standex International Corporation, with sales for the fiscal year ended June 30, 1997 of $565 million and operations in the United States, Western Europe, Canada, Australia, Singapore and Mexico, is a diversified manufacturer in three broad business segments: Food Service, Industrial Products and Consumer Products.
(1)These "forward-looking" statements are necessarily dependent upon uncertainties in competitive pricing pressures and market demand.