Astronova Announces Strategic Realignment of Product Identification Segment to Improve Cost and Operational Efficiencies
August 01, 2023 at 08:00 am EDT
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AstroNova, Inc. announced the implementation of a realignment of its Product Identification (?PI?) segment. The realignment is designed to streamline the cost structure and enhance the operational efficiencies of the segment to capitalize on the synergies of the Company?s Astro Machine, Inc. subsidiary, which was acquired in August 2022. As part of the realignment, AstroNova will transition more PI printer manufacturing from both Asia and its West Warwick, Rhode Island plant to the Astro Machine facility in Elk Grove Village, Illinois.
In addition, AstroNova will exit certain older, lower-margin or low volume PI products to focus on expanding the sales of higher margin product lines with more advanced functionality and greater demand. Related initiatives include consolidation of international PI sales and distribution facilities and streamlining of AstroNova?s channel partner network, as well as acceleration of the ongoing printer retrofit program to restore printers sidelined due to a supplier?s ink quality issue.
AstroNova, Inc. designs, develops, manufactures, and distributes a range of specialty printers, and data acquisition and analysis systems, including both hardware and software, which incorporate advanced technologies to acquire, store, analyze and present data in multiple formats. The Company operates through two segments: Product Identification (PI) and Test & Measurement (T&M). The PI segment includes specialty printing systems and related supplies sold under the QuickLabel, TrojanLabel and GetLabels brand names. The T&M segment includes its line of aerospace printers, ethernet networking products, and test and measurement data acquisition systems sold under the AstroNova brand name. The Company offers its hardware and software products to various markets, including aerospace, apparel, automotive, avionics, chemicals, computer peripherals, communications, distribution, food and beverage, general manufacturing, packaging, and transportation.