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Article: Ballantyne of Omaha Divests Rental Operations Related to Xenotech Unit.
- Article from:
- Business Wire
- Article date:
- August 5, 2002
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Business Editors
OMAHA, Neb.--(BUSINESS WIRE)--Aug. 5, 2002
Ballantyne of Omaha, Inc. (OTC BB:BTNE), a leading manufacturer of motion picture projection and long-range follow spotlights, today announced that it completed the sale of certain assets and business operations of Xenotech Rental Corp. located in North Hollywood, California to the former division Vice President and General Manager of the unit for an undisclosed sum.
Prior to the sale, the Company had been restructuring the unit as part of a broader effort to reduce operating expenses. In 2001, the unit generated approximately $700,000 of rental revenues and contributed to the ...