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BRIEF-xG Technology to realize annual cost savings above $2 mln from Integrated Microwave Technologies acquisition

Oct 10 xG Technology Inc :

* xG Technology on track to realize across-the-board annual cost savings above $2.0m resulting from the acquisition of Integrated Microwave Technologies (IMT)

* xG Technology Inc says co to rightsize staff levels to align headcount with near and mid-term realizable revenue opportunities

* xG Technology Inc says downsizing company's fort lauderdale facility, resulting in savings of approximately $150,000 per year

* xG Technology-relocation of all manufacturing of xmax products to IMT's facility in New Jersey, which will result in savings of up to $700,000 per year

* xG Technology-expected continuing savings in lease,related costs as operations in New Jersey are rightsized, amounting to about $150,000-$200,000/year Source text for Eikon: Further company coverage:

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