Actuant to Present At Two Conferences.MILWAUKEE--(BUSINESS WIRE)--Nov. 13, 2000 Applied Power Inc. d/b/a Actuant Corporation (NYSE NYSE See: New York Stock Exchange :ATU (ADSL Transceiver Unit) A device that provides ADSL modulation of the telephone line. The device at the telco side is the ATU-C (Central), which is a line card plugged into the DSLAM. ) announced today that it will be presenting at the Robert W. Baird Robert Wilson Baird (born April 1, 1883) helped found the financial services firm that bears his name and led it for more than 40 years. Baird’s father was a professor of Greek literature at Northwestern University in Evanston, Illinois, where Baird grew up. Industrial Technology Conference in Chicago on Tuesday, November 14th, and holding a company sponsored investor meeting in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. on Thursday, November 16th. At those conferences Actuant will announce the following disclosures to be considered in conjunction with the October 3, 2000 earnings release and conference call with analysts. - The Company's recreational vehicle (RV) product line had sales of $8.2 million for the two months ended October 31, 2000, a decrease of 29% or $3.3 million from the comparable period of the prior year. This decline was due to continued weakness in the RV industry, and affected Class A motorhomes as well as trailers. - Actuant announced the resignation of Joseph M. Kampschroer, Vice President and Leader of the Gardner Bender business unit. The Company has begun an external search for a replacement. Until a replacement is announced, Robert C. Arzbaecher, President and CEO of Actuant, will assume day-to-day oversight of Gardner Bender. - Actuant has been awarded four new convertible top programs within the last two months. These programs, based on estimated volume projections received from the customers which are not firm deliveries, are expected to add $3 million in revenue in fiscal 2002 and $11 million in fiscal 2003. These are new convertible top models and are not replacements for any of Actuant's existing models. Two of these models will consist of retractable hardtop roofs actuated by new hydraulic systems developed by Actuant's Power-Packer business unit. Due to the confidential nature of its customers' new model development initiatives, the Company will not be announcing the specific programs or customers until a later date. The presentation for the two conferences this week will be available on the Company's website at www.actuant.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Management cautions that these projections are based on current estimates of future performance and are highly dependent upon a variety of factors, which could cause actual results to differ from these estimates. Actuant's results are also subject to general economic conditions, continued market acceptance of the Company's new product introductions, operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: risk due to competitive pricing, foreign currency fluctuations and interest rate risk. See the Company's S-4 registration statement for further information regarding risk factors. Actuant, headquartered in Milwaukee, Wisconsin For other places with the same name, see Milwaukee (disambiguation). Milwaukee is the largest city within the state of Wisconsin and 25th largest (by population) in the United States. , is a diversified industrial company with sales approximating $500 million and operations in 19 countries. The Actuant businesses are market leaders in highly engineered position and motion control systems and branded tools. Products are offered under such established brand names as Enerpac, Gardner Bender Gardner Bender is a manufacturer of professional electrician's tools and supplies. External links
For further information on Actuant and its business units, visit the Company's website at www.actuant.com. |
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