NEWTOWN, CT, February 6, 2018 (Marketwired) – 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.com.
Halitron is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Halitron is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron is not registered with FINRA or SIPC.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company’s control. Halitron, Inc is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Halitron, Inc. is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron, Inc. is not registered with FINRA or SIPC.
Halitron Investor Relations 3 Simms Lane, Suite 2F, Newtown, CT 06470 1-877-710-9873 www.halitroninc.com email@example.com