Exhibit 99.1 For Immediate Release SL INDUSTRIES, INC. ANNOUNCES THE SALE OF SL SURFACE TECHNOLOGIES MT. LAUREL, N.J., Nov. 25, 2003. SL INDUSTRIES, INC. (AMEX & PHLX: SLI) announced today that its subsidiary, SL Surface Technologies, Inc., has sold the operating assets of its business which is engaged in coatings and platings. The sale included the current assets and equipment of SL Surface Technologies with the buyer paying $600,000 in cash plus the assumption of the certain liabilities. SL Surface Technologies has retained (a) the land and building and has entered into a 10 year lease with the buyer, and (b) specific liabilities. Commenting on the sales, Warren Lichtenstein, Chairman and Chief Executive Officer of SL Industries, Inc. said, "We are pleased to complete the sale of this non-core business and to continue our focus on our core businesses." As a result of the sale, the Company expects to record an after tax loss of approximately $575,000 and use all of the proceeds of sale to pay severance, closing costs and a required contribution to a union pension plan. About SL Industries SL Industries, Inc. designs, manufactures and markets Power and Data Quality equipment and systems for industrial, medical, aerospace and utility applications. For more information about SL Industries, Inc. and its products, please visit the Company's web site at www.slindustries.com. Forward-Looking Statements This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: the effectiveness of the cost reduction initiatives undertaken by the Company, changes in demand for the Company's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, difficulties encountered in the integration of acquired businesses and other risks discussed from time totime in the Company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Contact Information: SL Industries, Inc. David Nuzzo, 856-727-1500, ext. 5515
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8-K Filing
SL Industries Inactive 8-KAcquisition or disposition of assets
Filed: 26 Nov 03, 12:00am