Allegheny Teledyne Sets Record Date and Distribution Date for Spin-Offs.PITTSBURGH--(BUSINESS WIRE)--Nov. 12, 1999-- Allegheny Teledyne Incorporated (NYSE NYSE See: New York Stock Exchange :ALT) today announced that its Board of Directors has set November 22, 1999 as the record date and November 29, 1999 as the distribution date for the previously announced spin-offs to Allegheny Teledyne's stockholders of all of the common stock of Teledyne Technologies Incorporated and Water Pik Technologies, Inc. Effective with the completion of the spin-offs on November 29, 1999, Teledyne Technologies, comprised of businesses of Allegheny Teledyne's Aerospace and Electronics segment, and Water Pik Technologies, comprised of businesses of Allegheny Teledyne's Consumer segment, will be separate publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . The common stock of these companies will be traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbols "TDY TDY abbr. temporary duty " and "PIK", respectively. At the time of the spin-offs, Allegheny Teledyne will change its name to Allegheny Technologies Allegheny Technologies, Inc. NYSE: ATI is a specialty metals company headquartered in Pittsburgh, Pennsylvania, USA. It is the 17th largest employer in Allegheny County and one of the last "steel" companies with its headquarters in "The Steel City" and major manufacturing Incorporated. After the spin-offs, Allegheny Technologies common stock will be traded on the New York Stock Exchange under the symbol "ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. ". It is anticipated that the one-for-two reverse stock split recently approved by Allegheny Teledyne stockholders will become effective immediately after the spin-offs. Information Statements with respect to Teledyne Technologies and Water Pik Technologies will be distributed to Allegheny Teledyne's stockholders before the spin-offs are completed. Allegheny Teledyne Incorporated is a diversified manufacturing company serving global markets with specialty metals, aerospace, electronic, industrial, and consumer products. The company is one of the largest and most diversified specialty metals producers in the world. With talented people using innovative technologies and systems, Allegheny Teledyne's goal is to be the low cost, high quality supplier to global markets. Allegheny Teledyne's website can be found at http://www.alleghenyteledyne.com. |
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