Hammond Manufacturing Company Limited

Hammond Manufacturing Company Limited

January 09, 2008 16:48 ET

Hammond Manufacturing Company Limited: Press Release

GUELPH, ONTARIO--(Marketwire - Jan. 9, 2008) - HAMMOND MANUFACTURING COMPANY LIMITED (TSX:HMM.A) announces that the previously reported agreement to sell its interest and related real estate in Moloney Electric Inc. to Universal Power Transformer closed on January 9, 2008.

Approximate net proceeds of $5 million will be used for repayment of debt and working capital balances.

About Hammond Manufacturing Company Limited

Hammond Manufacturing Company Limited (TSX:HMM.A) manufactures a broad range of products for the electronic and electrical products industry, including metallic and non-metallic enclosures, racks, small cases, outlet strips, surge suppressors and electronic transformers.

This press release contains forward-looking statements. These statements are based on HMCL management's assumptions and beliefs in light of the information currently available to them. These forward-looking statements are subject to uncertainties and other factors that could cause actual results to differ materially from such statements. When relying on forward-looking statements to make decisions, HMCL cautions readers not to place undue reliance on these statements, as a number of important factors could cause actual results to differ materially from any intentions expressed in such forward-looking statements. HMCL does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of HMCL.

Contact Information

  • Hammond Manufacturing Company Limited
    Robert F. Hammond
    Chairman and CEO
    (519) 822-2960
    (519) 822-7289 (FAX)
    Email: ir@hammfg.com