Latest News Releases
|FOR IMMEDIATE RELEASE
December 4, 2008
|For More Information, Contact:
Jim Drewitz, Investor Relations
ART’S WAY MANUFACTURING ANNOUNCES NEW FACILITY
DEVELOPMENT FOR ADM ALLIANCE NUTRITION
Company Designed And Manufactured Multi-Unit Research Facility
For The Study of Feed Products and Feed Ingredients
ARMSTRONG, Iowa, December 4, 2008 – Art’s Way Manufacturing, Inc. (NASDAQ: ARTW), announces its wholly owned subsidiary, Art’s Way Scientific, Inc. – Buildings For Science – has nearly completed a major facility development project for ADM Alliance Nutrition, Quincy, Ill.
Art’s Way Scientific has designed, manufactured and installed 9 new modular buildings to create an animal nutrition research facility for the study of feed ingredients. One of the areas of research activities to be conducted in the facilities will be to determine the feed value of grain production co-products.
There are 8 animal buildings that are attached to a central feed storage corridor. A laboratory building is attached to the end of the research unit and serves as the entry area for researchers entering the facility.
The main feed storage building is 1,394 sq. ft. Left of the center corridor there are 4 each 976 sq. ft. animal rooms that support lamb and swine nutrition studies. Right of the central building are 4 each 1,260 sq. ft. animal units that support cattle and poultry nutrition study purposes. The central laboratory facility is 945 sq. ft. The Company was also responsible for the relocation of an existing swine nutrition research building that has been included with the new research facility.
The buildings were completed in June 2008, and the facility became operational in August 2008.
J. Ward McConnell, Jr., Executive Chairman of the Board, said, “I am gratified Art’s Way Scientific’s design, manufacturing, pricing and customer service was evaluated by ADM Alliance Nutrition, an industry leader in animal nutrition and feed technology, and chosen to construct this innovative feed research and technology center.
“Art’s Way Scientific was responsible for a large portion of our total revenue increase in the first three quarter of 2008. Their revenue increased 66% from $4.7 million in the first three quarters of 2007 to $7.8 million in 2008. With this order and other opportunities we are bidding on, we are confident Art’s Way Scientific will continue to contribute to the Company’s overall revenue and income growth in 2008. We continue to focus on exceeding our customers’ expectations and increasing shareholder value.”
About Art’s Way Scientific, Inc. – Buildings for Science:
Art’s Way Scientific, Inc. is a wholly owned subsidiary of Art’s Way Manufacturing, Inc. It is the recognized leading supplier of modular laboratories for biocontainment, animal science, public health and security requirements. Art’s Way Scientific custom designs, manufactures, delivers, and installs laboratories and research facilities to meet customers’ critical requirements.
About Art’s Way Manufacturing, Inc.
Art’s Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers. After market service parts are also an important part of the Company’s business. We have two wholly owned subsidiaries. Art’s Way Vessels, Inc. manufactures pressurized tanks and vessels and Art’s Way Scientific, Inc. manufactures modular animal confinement buildings and modular laboratories.
For More Information, Contact: Jim Drewitz, Investor Relations 830-669-2466
Or visit the Company’s website at www.artsway-mfg.com
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.