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HECTOR, Minn., July 26/PRNewswire-FirstCall/ -- Communications Systems, Inc. (AMEX: JCS) announced today that it had purchased a three story, 105,000 square foot building located in the Opus II Business Park in Minnetonka, Minnesota. Located on approximately 8 acres, the facility provides office, light manufacturing and warehouse capabilities. When improvements are completed, all personnel and operations of the Company and its subsidiaries based in the Minneapolis metropolitan area will be consolidated into this building. It is currently estimated this process will be completed in approximately six to eight months. Terms of the purchase were not disclosed.
Mr. Jeff Berg, CSI's President and Chief Executive Officer, stated that, "We are excited about this opportunity to consolidate all of our Minneapolis based operations, including our Suttle, Transition Networks and JDL Technologies subsidiaries, under one roof. We believe this facility will provide a platform for greater efficiency and growth. While we are consolidating our Minneapolis based operations into one facility, the manufacturing, engineering and administrative functions currently conducted in Hector, Minnesota will be unaffected by this consolidation to one location in the Minneapolis area."
About Communications Systems, Inc.
CSI provides physical connectivity infrastructure and services for cost- effective broadband solutions and is a leading supplier of voice grade connecting devices and wiring systems. CSI serves the broadband market as the world's leading supplier of media conversion technology, which permits networks to deploy fiber optic technology while retaining the copper-based infrastructure already embedded in the network. CSI also supplies copper wire and fiber optic structured wiring systems for broadband networks and line filters for digital subscriber line (DSL) service. CSI also provides network design, training and management services.
Cautionary Statement: From time to time, in reports filed with the Securities and Exchange Commission, in press releases, and in other communications to shareholders or the investing public, the Company may make forward-looking statements concerning possible or anticipated future financial performance, business activities, plans, pending claims, investigations or litigation which are typically preceded by the words "believes", "expects", "anticipates", "intends" or similar expressions. For such forward-looking statements, the Company claims the protection of the safe harbor for forward- looking statements contained in federal securities laws. Shareholders and the investing public should understand that such forward looking statements are subject to risks and uncertainties which could cause actual performance, activities or plans to differ significantly from those indicated in the forward-looking statements.
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