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LaBarge seeks buyer for remaining ScadaNet portion

On March 31, LaBarge Inc. announced plans to divest the remainder of its ScadaNET Network™ remote equipment-monitoring business to
concentrate on core electronics manufacturing.

In November 2002, LaBarge sold the rail industry — and largest — portion of ScadaNET to GE Transportation Systems-Global Signaling L.L.C.

The remaining ScadaNET portion generates less than 1 percent of LaBarge's consolidated revenue.

"[We] intend to continue operating the ScadaNET Network business while seeking a suitable buyer," said LaBarge President and Chief Executive Officer Craig LaBarge in a prepared statement, adding that the company already has held preliminary discussions with a small number of prospective buyers.

ScadaNET is a wireless system designed to remotely monitor equipment scattered over large geographical areas.

Contact Progressive Railroading editorial staff.

More News from 4/2/2003