Cascade Corporation Announces Special Board Committee.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--March 30, 2000 Chairman C. Calvert Knudsen announced today that Cascade Corporation's Board of Directors has appointed a Special Committee of independent directors to consider options to increase shareholder value. R.C. Warren, President and chief executive officer of Cascade Corporation, (NYSE NYSE See: New York Stock Exchange :CAE (1) (Computer-Aided Engineering) Software that analyzes designs which have been created in the computer or that have been created elsewhere and entered into the computer. ), advised the Board of Directors today that he and a management group are exploring the possibility for the corporation to be taken private in a management led leveraged buyout leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. . The Special Committee of the Board, which is authorized to seek outside investment and legal counsel, consists of James S. Osterman, President, Outdoor Products Group, Oregon Cutting Systems Division of Blount, Inc., Chairman; Nicholas R. Lardy lard n. The white solid or semisolid rendered fat of a hog. tr.v. lard·ed, lard·ing, lards 1. To cover or coat with lard or a similar fat. 2. , Senior Fellow at The Brookings Institution Brookings Institution, at Washington, D.C.; chartered 1927 as a consolidation of the Institute for Government Research (est. 1916), the Institute of Economics (est. 1922), and the Robert S. Brookings Graduate School of Economics and Government (est. 1924). ; Ernest C. Mercier, Chairman, Oxford Properties Group, Inc.; and Nancy A. Wilgenbusch, President, Marylhurst University. Separately, Cascade is issuing its earnings release for the fiscal year ended Jan. 31, 2000. Cascade Corporation, headquartered in Portland, Oregon is a leading international manufacturer of lift truck attachments, forks, and accessories. Under the "safe harbor provision" of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act, Cascade Corporation is required to advise you that this news release contains "forward looking statements" based on assumptions as to future sales and earnings, which in turn are dependant on economic conditions in general including interest rates, and on competitive factors in, and on the cyclical nature of the Materials Handling Industry. |
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