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Monarch Announces Largest Single Order in Its History Monarch Machine Tool Company today announced that it had received the largest order for a single machine in the company's history. The order, for one of the company's new products, a vertical traveling-column, gantry-style machining center, was placed by Lockheed Martin Missiles & Fire Control - Dallas, Camden (Ark.) Operations. The machine will be produced in Cortland and is the result of a joint venture between Monarch and Unisign, B.V. of the Netherlands. It is a state-of-the-art machine and represents the latest thinking in machine tool technology. "We're very proud to have the UMB-7 continue the Monarch tradition of supplying high-quality, high-precision, US-made machine tools," said Wayne W. Hanna, President & CEO of Monarch. The machine, which will be delivered later this year, will be used to manufacture parts for Lockheed Martin's defense programs. Monarch also announced today that it had just closed a second consecutive month of very strong bookings. In addition to Lockheed Martin, large orders were placed by Rolls Royce and the US Government. When combined with orders received in February, the total is greater than half of the amount booked in all of 1999. Monarch was part of a management buyout in early February. Mr. Hanna said that morale has been very good at the company since the announcement of the buyout. Prior to that time, the future of the company had been in question with its then-parent, Genesis Worldwide Inc., of Dayton, Ohio, actively trying to sell the business. Hanna commented that with the influx of orders and great cooperation being received from the company's employees, the future for Monarch is looking very bright. Monarch was purchased from Genesis Worldwide Inc. on February 11th with the aid of Cygnus Management Group of Syracuse, NY. The intention of the buyout was to keep Monarch in Cortland, preserving more than 90 jobs and providing a stable environment for the first time in several years. "We wanted to be able to run the company with only its interests and those of our employees in mind," stated Hanna. "The sigh of relief was almost audible," continued Hanna, "and our productivity in the first two months has been outstanding." Monarch is a manufacturer of high-precision vertical and gantry/bridge-type machining centers used in various manufacturing sectors. Its high-precision equipment serves a large number of manufacturers of capital equipment including General Electric, Pratt & Whitney, Lockheed Martin and New Venture Gear. Monarch is also the exclusive US representative for Spinner Ultra-Precision CNC turning centers manufactured in Germany. Lockheed Martin Missiles & Fire Control - Dallas, Camden Operations, is a Department of Defense prime contractor for several major military missile and rocket systems. (For further information, contact Wayne W. Hanna: (607)753-6001; whanna@monarchmt.com) |
April 11, 2000
Vertical
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