AMTROL makes announcement.WEST WARWICK West Warwick (wôr`wĭk, –`ĭk), town (1990 pop. 29,268), Kent co., central R.I., on the Pawtuxet River; set off from Warwick and inc. 1913. Textile manufacturing remains a leading industry. West Warwick includes the village of River Point. , R.I.--(BUSINESS WIRE)--Oct. 7, 1996--AMTROL Inc. today announced that it had set a date of Nov. 12, 1996 at 10:00 a.m. for a special meeting of Shareholders to vote on the previously announced agreement to merge with an affiliate of The Cypress Group L.L.C. The company also announced that its board of directors has restructured management in order to streamline control of manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. and to improve coordination of worldwide sales and marketing activities. The board elected Samuel L. Daniels as executive vice president in charge of all marketing and sales for each of AMTROL's strategic business units. The board also elected Clifford A. Peterson as senior vice president of operations and technology in charge of all manufacturing and new product development. Edward J. Cooney will continue as senior vice president and chief financial officer. Also elected were Gerald L. Leary, senior vice president of the newly established HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free strategic business unit, Scott Bowers, vice president of the Water Systems strategic business unit, Richard Meier, vice president of Subsidiaries, and Timothy Johnson, Managing Director, Asia-Pacific Operations, each of whom will report to Mr. Daniels. In addition, the board announced that it had elected Mary C. Richmond as vice president of corporate development. "We believe that these changes in our management structure will allow us to more effectively control manufacturing operations, improve gross margins and market penetration, both domestically and internationally, as well as improve our ability to execute on AMTROL's strategic plan," stated Stephen J. Carlotti, AMTROL vice chairman. Carlotti also announced that David P. Whittingham, senior vice president of Container/RO, and Brooks R. Herrick, vice president-finance and corporate controller, had each announced his resignation. "Both David and Brooks have made significant contributions to the company and we will miss them," stated Carlotti. AMTROL announced on Aug. 29, 1996 that it had signed a definitive Merger Agreement with A.I. Holdings, an affiliate of The Cypress Group L.L.C., and A.I. Acquisition Inc. providing for the acquisition of AMTROL for $28.25 per share in cash. The transaction is expected to close shortly after shareholder approval. AMTROL is a leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. producer and marketer of flow and expansion control technology used in water systems and heating, ventilating ventilating Natural or mechanically induced movement of fresh air into or through an enclosed space. The hazards of poor ventilation were not clearly understood until the early 20th century. Expired air may be laden with odors, heat, gases, or dust. and air-conditioning products with a growing international presence. The company's common stock trades on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on under the symbol, AMTL AMTL Army Materials Technology Laboratory AMTL American Medical Testing Laboratories AMTL Advanced Manufacturing Technology Laboratory AMTL active management of the third stage of labor . CONTACT: AMTROL Inc., West Warwick Stephen J. Carlotti, 401/884-6300 or Bibelnieks Associates Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Yanis Bibelnieks, 212/949-2295 |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion