Trans-Industries, Inc. Completes Private Sale of Common Stock
06 October 2005 - 12:01AM
PR Newswire (US)
AUBURN HILLS, Mich., Oct. 5 /PRNewswire-FirstCall/ --
Trans-Industries, Inc. (NASDAQ:TRNI), a manufacturer of bus
lighting systems and information display products, announced today
that the Clark-Reliance Corporation completed the transaction to
purchase 1,008,606 shares of common stock at $0.7436 per share on
Friday, September 30, 2005. The Clark-Reliance Corporation is a
privately held corporation. Mr. Harry E. Figgie Jr., a
Trans-Industries Board member, is Chairman of the Board of the
Clark-Reliance Corporation. Certain other directors of
Trans-Industries are also on the Board of Clark-Reliance. Proceeds
from this sale will be used for working capital, financing expenses
and the reduction of certain term debt held by the Company's
present lender. About the Company: The Company is a leading
provider of lighting systems and related components to the mass
transit market as well as a supplier of information hardware and
software solutions on Intelligent Transportation Systems (ITS) and
mass transit projects. ITS utilizes integrated networks of
electronic sensors, signs and software to monitor road conditions,
communicate information to drivers and help transportation
authorities better manage traffic flow across their existing
infrastructures. Forward-Looking Statements: Except for statements
of historical fact, this news release contains certain
forward-looking statements about the Company. Such statements are
subject to significant risks and uncertainties including changes in
economic and market conditions, management of growth, and other
risks noted in the Company's SEC filings which may cause actual
results to differ materially. Visit Trans-Industries at
http://www.transindustries.com/ . DATASOURCE: Trans-Industries,
Inc. CONTACT: Kai Kosanke, Chief Financial Officer of
Trans-Industries, Inc., +1-248-364-0400 Web site:
http://www.transindustries.com/
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