ROCHESTER, N.Y. - (Business Wire) Transcat, Inc. (NASDAQ: TRNS), a leading global distributor of professional grade test, measurement and calibration instruments and accredited provider of calibration and repair services, announced that it has added dimensional capabilities to its Rochester, New York laboratory facility as well as broken ground on a 10,000 square foot addition to its office and warehouse facility in the same location.
Transcat installed a multi-sensor metrology system in its environmentally controlled Rochester laboratory that added 2-dimensional and limited 3-dimensional calibration capabilities which were previously only available in its Fort Wayne, Indiana laboratory. Additional equipment added to enhance the laboratory’s dimensional capabilities includes an ultra-high accuracy laser measurement system and long-range single axis vision system. These new systems are expected to receive accreditation from the American Association for Laboratory Accreditation (A2LA) and be added to its scope of ISO/IEC 17025 accredited services during the next scheduled audit in the third quarter of calendar year 2008. Accreditation has already been obtained for a laser-based universal length measuring system, accurate to the millionth of an inch, used for numerous internal and external dimensional applications.
The warehouse and office facility expansion will increase the capacity of the existing building by approximately 37%. The expansion is integrated into a lease renewal with Gallina Development and is valued at approximately $3.4 million over a 10-year period. An additional $275 thousand will be invested for workstation and warehouse storage equipment as well as renovations to the existing building. The expansion is expected to be completed in the fourth quarter of calendar year 2008. Transcat currently has 111 employees at its Rochester location.
Charles P. Hadeed, President, CEO and COO of Transcat, commented, “The addition of dimensional calibration capabilities in our Rochester laboratory gives us the capacity to meet growing demand from our current customers and effectively sell reliable, timely calibration services to new customers. We evaluated our options regarding the operating space requirements in our Rochester facility, and concluded that expanding our existing building gives us the flexibility to add equipment and resources that will support and sustain our future growth.”
ABOUT TRANSCAT
Transcat, Inc. is a leading global distributor of professional grade test, measurement and calibration instruments and accredited provider of calibration and repair services primarily for pharmaceutical, manufacturing, utility and process industries. Through its distribution products segment, Transcat markets and distributes national and proprietary brand instruments to approximately 12,500 global customers. The Company’s Master Catalog offers access to more than 25,000 test and measurement instruments. Transcat delivers precise, reliable, fast calibration services and repairs across the United States, Canada and Puerto Rico through its eleven strategically located Centers of Excellence. Transcat’s calibration laboratories are all ISO-9001:2000 certified and the scope of accreditation for ISO/IEC 17025 is the widest in the industry.
Transcat’s growth strategy is to expand both its distribution products and calibration services in markets that value product breadth and availability and rely on accredited calibration services to maintain the integrity of their processes.
More information about Transcat can be found on its website at: www.transcat.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events, or developments that Transcat, Inc. expects or anticipates will occur in the future, including but not limited to statements relating to anticipated revenue, profit margins, sales operations, its strategy to build its sales representative channel, customer preferences and changes in market conditions in the industries in which Transcat operates are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Transcat’s Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors.” Should one or more of these risks or uncertainties materialize, or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
Transcat, Inc.
John Zimmer, Chief Financial Officer, 585-352-7777
jzimmer@transcat.com
or
Kei Advisors LLC
Tammy Poblete, 716-843-3853
tpoblete@keiadvisors.com
