Brunswick Technologies to Report First Quarter 2000 Financial Results On Friday, May 5; BTI Board Clarifies Position on Future Option Grants.Business Editors BRUNSWICK, Maine--(BUSINESS WIRE)--May 1, 2000 Brunswick Technologies Inc. (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 :BTIC BTIC Baggage Tag Issuer Code (aviation) ) ("BTI BTI Beverage Testing Institute BTI Boyce Thompson Institute BTI British American Tobacco (stock symbol) BTI Boston Theological Institute Bti Bacillus Thuringiensis Israelensis BTI BioTechnology Institute BTI Binding Tariff Information "), a leading manufacturer and innovative developer of composite reinforcements, today announced it will report first quarter 2000 financial results on Friday, May 5, 2000. Additionally, BTI's Board of Directors voted that no option grants will be awarded to executive officers under the Company's Equity Incentive Plan for at least 90 days. The Board took this action in order to clarify its position and to dispel any false rumors related to future option grants. BTI is currently the subject of an unsolicited tender offer by Compaigne de Saint-Gobain's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. CertainTeed Corporation. BTI's Board is continuing to evaluate the offer and has retained McDonald Investments Inc. to assist in that process. BTI has advised shareholders not to respond to the offer and that BTI's Board of Directors will provide its recommendation on the offer to shareholders prior to May 4, 2000. Examples of products manufactured with BTI engineered reinforcements include: ballistic armor, boats, snowboards, railcars, truck panels, wind blades, airframe structures, automotive parts, marine pilings, bridges, and offshore oil and gas production equipment. BTI has manufacturing facilities in the Maine, Texas and the UK. 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 under 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 Matters discussed in this news release, including any discussion of or impact, expressed or implied, on the Company's anticipated revenue growth, operating results and future earnings per share contain 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. (identified by the words "expect", "estimate", "project", "plans", "believe", and similar expressions) that involve known and unknown risks and uncertainties. For these statements the company claims the protection of the safe harbor of the private Securities Litigation Reform Act of 1995. The company's results may differ significantly from the results indicated by such forward-looking statements. The Company's future results are dependent upon general economic conditions, the availability of supplies of fiberglass, the ability to expand new and existing markets, competition from competing product lines from both fiberglass and non-fiberglass suppliers, the ability to manage growth in inventory, the stability of its customers' capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. plans and the ability of the company to obtain necessary capital from time to time. These and other risks are detailed from time to time in the Company's SEC reports, including Form 10K for the year ended December 31, 1999. |
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