PARK-OHIO INDUSTRIES, INC. ISSUES STATEMENT
PARK-OHIO INDUSTRIES, INC. ISSUES STATEMENT CLEVELAND, Feb. 13 /PRNewswire/ -- Park-Ohio Industries, Inc.
(NASDAQ: PKOH) stated today that it had reviewed a press release issued earlier in the day by Secom General Corporation in which Secom General expressed an interest in the possible acquisition of Park-Ohio.
Park-Ohio said that Secom General's interest in exploring a possible acquisition was unsolicited and that it had not received any information or had any contact with Secom General concerning such a transaction. Thomas E. McGinty, Chairman and Chief Executive Officer of Park-Ohio, said, "As we have previously announced, Park-Ohio has been and continues to be interested in pursuing strategic opportunities designed to maximize shareholder value. Last spring, we explored the possible sale of the Company. And, as announced, we had negotiations and discussions with several interested parties although these did not result in a transaction." McGinty added, "Absent any specifics on a possible transaction, we do not have any basis for discussing or considering a possible transaction involving Secom General. We will give appropriate consideration to any specific, bona fide transaction they may propose." -0- 2/13/92 /CONTACT: Harold Madorsky of Park-Ohio, 216-991-9700; or Stanley Ulchaker of Edward Howard & Co., 216-781-2400, for Park-Ohio/ (PKOH) CO: Park-Ohio Industries, Inc. ST: Ohio IN: MAC SU:
SM -- CL021 -- 9835 02/13/92 14:40 EST
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|Date:||Feb 13, 1992|
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