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8-K - FORM 8-K - LADISH CO INC | c64549e8vk.htm |
Exhibit 99.1
NEWS
For: | From: | |||||
Ladish Co., Inc. | Libby Communications | |||||
5481 South Packard Avenue | 1414 East Harbour Towne Circle | |||||
Cudahy, WI 53110 | Muskegon, MI 49441 | |||||
Contact:
|
Wayne E. Larsen | Contact: | William J. Libby | |||
414-747-2935 | 231-755-4111 | |||||
414-747-2602 Fax | 231-755-4144 Fax |
Release date: 6 May 2011
Ladish Announces Results of Special Shareholders Meeting
Cudahy,
WILadish Co., Inc. (www.ladishco.com) (Nasdaq: LDSH) today announced the results of
a special meeting of Ladish shareholders. At the meeting, the Ladish shareholders overwhelmingly
approved the merger of Ladish with a wholly owned subsidiary of Allegheny Technologies Incorporated
(NYSE: ATI) with approximately 99.9% of the Ladish shares voted at the meeting having been voted in
favor of the transaction. Ladish expects to close the transaction with ATI on or about May 9,
2011.
Ladish Co., Inc. is a leading producer of highly engineered, technically advanced metal components
for the jet engine, aerospace and general industrial markets. Ladish is headquartered in Cudahy,
Wisconsin with operations in Wisconsin, California, Connecticut, Oregon and Poland. Ladish common
stock trades on Nasdaq under the symbol LDSH.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release include forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve
a number of risk and uncertainties, and actual results or events may differ materially from those
projected or implied in those statements. Examples include statements regarding the parties
ability to consummate the proposed transaction and timing thereof, the benefits and impact of the
proposed transaction, including effects on cash flow or earnings, the combined companys ability to
achieve the synergies and value creation that are contemplated by the parties, ATIs ability to
promptly and effectively integrate Ladishs business, and the diversion of management time on
transaction-related issues. Additional examples of forward-looking statements include information
concerning ATIs, Ladishs or the combined companys outlook, anticipated revenues or results of
operations, and the anticipated benefits expected to be realized in connection therewith, as well
as any other statement that does not directly relate to any historical or current fact.
more
NEWS
These forward-looking statements often include words such as believe, expect, project,
anticipate, intend, plan, estimate, seek, will, may, would, should, could,
forecast or similar expressions. These statements are based on certain assumptions that ATI and
Ladish have made in light of their experience in the industry as well as their perceptions of
historical trends, current conditions, expected future developments and other factors that they
believe are appropriate in these circumstances. ATI and Ladish believe these judgments are
reasonable, but you should understand that no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or occur, or if any of them do so,
what impact they will have on the results of operations or financial conditions of ATI, Ladish or
the combined company, due to a variety of important factors, both positive and negative. Among
other items, such factors could include the ability of the parties to obtain all necessary
regulatory consents to the proposed transaction; the overall strength and stability of general
economic conditions, both in the United States and in global markets, including the timing and
strength of the current recovery; the effect of significant changes in the competitive environment,
including as a result of industry consolidation, and the effect of competition in the parties
respective markets; their ability to achieve cost savings and efficiencies and realize
opportunities to increase productivity and profitability; their ability to accurately estimate
future levels of business activity and adjust operations accordingly; impact of a major disruption
in their communication or centralized information networks or payment systems; and changes in the
existing, or the adoption of new, laws, regulations, policies or other activities of governments,
agencies and similar organizations where such actions may materially affect their operations or the
cost thereof.
ATI and Ladish caution you that you should not rely unduly on these forward-looking statements,
which reflect their current beliefs and are based on information currently available. Neither ATI
nor Ladish undertakes any obligation to update or revise any forward-looking statements as of any
future date. Additional information concerning these statements and other factors can be found in
ATIs and Ladishs filings with the SEC, including the respective Annual Reports on Form 10-K, the
quarterly reports on Form 10-Q, current reports on Form 8-K and other documents ATI or Ladish have
filed.
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