Business
Halitron, Inc. Streamlines Operations with Relocation of Manufacturing
Halitron, Inc. Streamlines Operations with Relocation of Manufacturing.
About this update from Halitron Inc
[{"type":"text","content":"\n\n First Order Shipped: Impact of Cost Savings will Begin to Benefit the Company\n\n \n \n \n \n \n \n \n \n \n \n \n Halitron Inc.\n \n \n \n \n \n \n \n \n\n NEWTOWN, CT, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Halitron, Inc. (the “Company,” “Halitron”) (OTC: HAON), a multisector holding company, is pleased to announce that operations from its portfolio company, Hopp Companies, Inc., have successfully relocated to Newtown, Connecticut. Since the acquisition closed in late 2017, Management has been working diligently on evaluating the former operating model by replicating its infrastructure on Halitron’s systems and relocating to a smaller and more efficient manufacturing environment based on lean manufacturing and back office principles.  In the upcoming months, Management plans to exit the lease in New Hyde Park, NY, clean up the old facility, and sell off excess raw material and equipment. The move is expected to reduce direct costs by 63% while improving margins, and ultimately improving the bottom line for shareholders. The benefits should be noticed on Halitron’s P&L and ultimately translated to the Company’s balance sheet. Recent cash flows from operations have primarily been allocated to relocating the business and the build-out in Connecticut; however, Management has allocated funds for two purchases of Halitron common stock in the open market, and the Company hopes that additional funds for purchases of common stock will be available in the future as a result of the relocation and operational expense reduction. Management anticipates that the Company will continue to buy back shares as cash flows from operations are available.  The stock buyback purchases will be reported in Halitron’s quarterly filings. Please check out our social media accounts for updates and images on the relocation. About Halitron, Inc. Halitron, Inc., a multisector holding company, is focused on acquiring sales, marketing, and manufacturing businesses, and then rolling them into an efficient, low-cost operating infrastructure. Management targets operating entities that can either benefit from current operating infrastructure or operate autonomously and offer an additional product or service to scale existing operations. For more information on Halitron, Inc., please visit: www.halitroninc...