Productivity Technologies Corp (PRAC) Financial

Productivity Technologies Corp. engages in the manufacture and sale of production machinery, parking systems, and fabricated structure. The company is headquartered in Northbrook, Illinois and currently employs 160 full-time employees. The company is also a provider of engineering services. The firm operates its business through its wholly owned subsidiaries, Atlas Technologies, Inc. (Atlas) and Westland Control Systems, Inc. (Westland). Atlas manufactures and supplies quick die change, flexible transfer and stacking/destacking equipment used to automate automotive and other metal stamping operations. Atlas primarily sells its products to automobile and automotive parts manufacturers and appliance manufacturers. Westland designs, manufactures and field installs custom electrical control panels primarily for use in production machinery and machine tools utilized in automotive, adhesive and sealant, food processing and other industrial applications. In March 2004, Atlas formed a German subsidiary, Atlas Technologies, GmbH, in order to facilitate its operations in Europe.