American Italian Pasta Company Announces Real Estate Sale Contract with ST Specialty Foods, Inc.

KANSAS CITY, Mo., June 16  /PRNewswire-FirstCall/ -- American Italian Pasta Company (NYSE:PLB) has entered into a Real Estate Sale Contract with ST Specialty Foods, Inc. ("ST") for the purchase of the land and manufacturing plant located in Kenosha, Wisconsin and certain personal property located at the Kenosha manufacturing plant, as set forth in the contract.  The sale will be an all cash transaction and the Company expects to generate approximately $6,000,000 of net cash proceeds from the transaction (net of selling expenses).  The sale is expected to close in mid-July.  The Company is not selling the Kenosha facility's pasta manufacturing equipment nor pasta inventory to ST.  As previously reported, the Company will redeploy its pasta assets, moving two of its manufacturing lines from its Kenosha plant to its South Carolina plant.  The Company today will file a Current Report on Form 8-K with respect to this transaction.

Founded in 1988 and based in Kansas City, Missouri, American Italian Pasta Company is the largest producer and marketer of dry pasta in North America. The Company has four plants that are located in Excelsior Springs, Missouri; Columbia, South Carolina; Tolleson, Arizona and Verolanuova, Italy.  The Company has approximately 600 employees located in the United States and Italy. 

DATASOURCE: American Italian Pasta Company



CONTACT:  George Shadid, EVP & Chief Financial Officer of American

Italian Pasta Company, [phone],  



Web site:  http://www.aipc.com/ 

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