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8-K - FORM 8K - CHAIRMAN OF THE BOARD TURNER - MATTHEWS INTERNATIONAL CORP | form8k-chairman.htm |
Exhibit
99.1
Release
date: February 19, 2010
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Contact:
|
Steven
F. Nicola
|
Chief
Financial Officer, Secretary &
Treasurer
412-442-8262
MATTHEWS
INTERNATIONAL CORPORATION
ELECTS NEW CHAIRMAN OF THE
BOARD
PITTSBURGH, PA, FEBRUARY 19, 2010 -
Matthews International Corporation (NASDAQ GSM: MATW) today reported that John
D. Turner has been named as the Company’s new Chairman of the Board of
Directors. Following the Company’s Annual Shareholders’ Meeting on
February 18, 2010, the Board of Directors elected Mr. Turner as
Chairman. William J. Stallkamp, the Company’s former Chairman,
retired from the Board upon the close of the Shareholders’ Meeting.
Joseph C. Bartolacci, President and
Chief Executive Officer, stated: “We are pleased that Mr. Turner has
accepted the role as Chairman of the Board. With his knowledge of our
businesses and leadership experience, he has been a tremendous resource to the
Company’s Board and management. We look forward to his continued
support and guidance.”
In discussing his election, Mr. Turner
stated: “It will be a privilege for me to serve as Chairman of the
Board. Matthews is an excellent company with a long history of growth
and success, and I appreciate the confidence of the Board in selecting me for
this responsibility. I look forward to working with the Board and
management to maintain the Company’s high level of performance and integrity in
its efforts to achieve our long-term objective of increasing shareholder
value.”
Mr. Turner has been a director of the
Company since 1999 and has recently served as the Chairman of the Board’s
Compensation Committee. He was Chairman and Chief Executive Officer
of Copperweld Corporation, a manufacturer of tubular and bimetallic wire
products, until his retirement in 2003. He currently serves on the
Board of Directors of Allegheny Technologies Incorporated.
Matthews
International
Corporation
2 of
2
February
19, 2010
Matthews
International Corporation, headquartered in Pittsburgh, Pennsylvania, is a
designer, manufacturer and marketer principally of memorialization products and
brand solutions. Memorialization products consist primarily of bronze
memorials and other memorialization products, caskets and cremation equipment
for the cemetery and funeral home industries. Brand solutions include
graphics imaging products and services, marking products, and merchandising
solutions. The Company’s products and services include cast bronze
memorials and other memorialization products; caskets; cast and etched
architectural products; granite memorials; cremation equipment and
cremation-related products; mausoleums; brand management; printing plates and
cylinders, pre-press services and imaging services for the primary packaging and
corrugated industries; marking and coding equipment and consumables, and
industrial automation products for identifying, tracking and conveying various
consumer and industrial products, components and packaging containers; and
merchandising display systems and marketing and design services.
Any
forward-looking statements contained in this release are included pursuant to
the “safe harbor” provisions of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown risks
and uncertainties that may cause the Company’s actual results in future periods
to be materially different from management’s expectations. Although
the Company believes that the expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such expectations will
prove correct. Factors that could cause the Company’s results to
differ materially from the results discussed in such forward-looking statements
principally include changes in economic conditions, competitive environment,
death rate, foreign currency exchange rates, and technological factors beyond
the Company’s control.