Shiloh Industries Comments on Reorganization of MTD Holdings Inc’s Ownership Interest in Shiloh
January 04 2019 - 5:15PM
Business Wire
Shiloh Industries, Inc. (NASDAQ:SHLO), a leading global supplier
of lightweighting, noise, and vibration solutions to the
automotive, commercial vehicle and other industrial markets,
commented on a Form 3, Form 4 and Schedule 13D filed today in
connection with a reorganization of MTD Holdings Inc ownership of
shares of Shiloh Industries’ Common Stock.
As a result of the internal reorganization at MTD Holdings Inc,
the 7,300,866 shares of Common Stock, which represent approximately
31% of Shiloh’s shares outstanding, that were previously held
indirectly by MTD Holdings Inc are now held indirectly by Oak Tree
Holdings LLC, an affiliate of MTD Holdings Inc.
“MTD has held a strategic investment in Shiloh since 1998 and I
am pleased that this relationship will continue under the new Oak
Tree structure,” said Ramzi Hermiz, president and chief executive
officer of Shiloh Industries. “On behalf Shiloh Industries, I’d
like to thank MTD for their continued support of our company.”
About Shiloh Industries:
Shiloh Industries, Inc. (NASDAQ: SHLO) is a global innovative
solutions provider focusing on lightweighting technologies that
provide environmental and safety benefits to the mobility market.
Shiloh designs and manufactures products within body structure,
chassis and propulsion systems. Shiloh’s multi-component,
multi-material solutions are comprised of a variety of alloys in
aluminum, magnesium and steel grades, along with its proprietary
line of noise and vibration reducing ShilohCore® acoustic laminate
products. The strategic BlankLight®, CastLight® and StampLight®
brands combine to maximize lightweighting solutions without
compromising safety or performance. Shiloh has over 4,200 dedicated
employees with operations, sales and technical centers throughout
Asia, Europe and North America.
Investor Contact
For inquiries, please contact our Investor Relations department
at: 1-330-558-2601 or at investors@shiloh.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190104005514/en/
Kevin Doherty1-330-558-2601investors@shiloh.com
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