AMEX Accepts Reunion Industries' Continued Listing Plan.Business Editors PITTSBURGH--(BUSINESS WIRE)--Aug. 8, 2003 Reunion Industries, Inc. (Amex - RUN) announced today that on August 1, 2003, the Company received notice from the staff of the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. that the AMEX has accepted the Company's plan to regain compliance with AMEX listing standards and has granted the Company an extension until November 23, 2004 to regain compliance with those standards. Currently, the Company does not meet the continued listing standards due to its shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. being less than the required amount in conjunction with operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. in two of its three most recent fiscal years. The Company will be subject to periodic review by the AMEX staff during the extension period. Failure to make progress consistent with the terms of the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the AMEX. Reunion manufactures and markets a broad range of metal and plastic products and parts, including seamless steel pressure vessels Pressure vessel A cylindrical or spherical metal container capable of withstanding pressures exerted by the material enclosed. Pressure vessels are important because many liquids and gases must be stored under high pressure. , fluid power cylinders, leaf springs, precision plastics products and thermoset A polymer-based liquid or powder that becomes solid when heated, placed under pressure, treated with a chemical or via radiation. The curing process creates a chemical bond that, unlike a thermoplastic, prevents the material from being remelted. See thermoplastic. compounds and provides engineered plastics services. Reunion Industries is headquartered at 11 Stanwix Street, Suite 1400, Pittsburgh, Pennsylvania “Pittsburgh” redirects here. For the region, see Pittsburgh Metropolitan Area. Pittsburgh (pronounced IPA: /ˈpɪtsbɚg/) is the second largest city in the Commonwealth of Pennsylvania. , 15222. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined by Section 21E of the Securities Act of 1934, as amended, concerning the Company's expectations about, among other things, its future results of operations in connection with its AMEX plan. These forward-looking statements are subject to a number of factors that could cause actual results to differ materially from these expectations, some of which are beyond the control of the Company. Additional information on potential factors and risks that could affect the Company's future operations are contained in the Company's reports and filings with the Securities and Exchange Commission. |
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