Astronova Announces Strategic Realignment of Product Identification Segment to Improve Cost and Operational Efficiencies
August 01, 2023 at 05:30 pm IST
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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, manufactures, distributes, and services a range of products that 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 provides an array of digital, end-to-end product marking and identification solutions, including hardware, software, and supplies for original equipment manufacturers (OEMs), commercial printers, and brand owners. The T&M segment provides products designed for airborne printing solutions, avionics, and data acquisition. Its aerospace products include flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. Its data acquisition systems are used in research and development, flight testing, missile and rocket telemetry production monitoring, power, and maintenance applications. The Company also offers advanced digital solutions for textiles, packaging, and labeling.