LaBarge Lands Contract to Build Mail Sorting Equipment
Last updated Thursday, June 29, 2006 10:13 PM CDT in Business
By The Morning News
LaBarge Inc.'s Huntsville employees soon will begin building new mail sorting equipment for the United States Postal Service under a $10.7 million contract with Northrop Grumman Corp.
St. Louis-based LaBarge announced Thursday the company got the contract, which runs through May.
The contract will not involve adding employees, according to LaBarge spokeswoman Colleen Clements. The Huntsville plant, open since 1978, has approximately 200 employees, Clements said.
LaBarge first started building the mail sorting equipment in 1999 but has gotten contracts to continue the work. However, Clements said equipment specifications and contract amounts can change each year, so each contract is treated as a new award rather than a renewal.
Clements did not disclose how much the Huntsville employees will earn while building the mail sorting equipment.
The LaBarge-built equipment is part of a fleet of machines that can sort 26 billion pieces of flat mail per year.
LaBarge provides electronics to technology-driven companies and has operations in Arkansas, Missouri, Oklahoma, Pennsylvania and Texas.
Shares of LaBarge Inc. (AMEX: LB) closed Thursday at $12.55, up $1.34, or nearly 12 percent. In the past 52 weeks, the price ranged from a high of $22 to a low of $10.68.
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