DALLAS, Feb. 5, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring metal-cutting equipment maker Hardinge Inc. (Nasdaq:HDNG). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/HDNG
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Hardinge Inc. (HDNG) is a designer, manufacturer and distributor of machine tools, specializing in precision computer numerically controlled metal-cutting machines. The Company boasts a very diverse international customer base and serves a wide variety of end-user markets. Along with metalworking manufacturers which make parts for a variety of industries, its customers include numerous end users in the aerospace, agricultural, transportation, basic consumer goods, communications and electronics, construction, defense, energy, pharmaceutical and medical equipment, and recreation industries, among others.
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In the report, the analyst notes:
"Romi, a leading global manufacturer of machine tools, announced Thursday it made an unsolicited all-cash offer to buy HDNG for $90 million. According to the Brazilian machine tool manufacturer, HDNG has rejected its previous offers, but it hopes its $8 per share offer will win the Company over because it's a 46% premium to HNDG's closing share price Wednesday. Romi, which reportedly recorded sales of about 700 million reais ($388 million) in 2008, believes the combination is in the best interests of HDNG's employees, customers and partners …
"Looking to maintain its financial strength and flexibility going forward, HDNG made a slew of restructuring moves during the third quarter of 2009. The Company previously announced it was moving to a more variable cost business model in its Elmira, New York facility, and therefore would begin the process of outsourcing many of the components and subassemblies for machines made in the Elmira facility."
To read the entire report visit: http://www.stockpreacher.com/n/HDNG
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