LaCrosse Footwear, Inc. has sold certain assets of its PVC boot line to Onguard Industries, LLC. As a result, the Company will end its manufacture and sales of PVC boots and close its Claremont, New Hampshire facility.
This is another important step in LaCrosse's strategic transition away from low-priced footwear to innovative, technical products. The Company will continue to accept orders and ship product from its PVC inventory through September 22, 2004. The Claremont-based facility manufactures PVC boots generating annual revenues of approximately $7 million and employing 70 people. In the third quarter, the Company expects to report an estimated charge related to the sale and plant closure of approximately $900,000.
“The Company has taken steps to ensure continued deliveries of PVC products to our valued customers during this transition,” said Joseph P. Schneider, President and CEO of LaCrosse Footwear, Inc.
