Steel Partners Holdings Releases Annual Letter from Executive Chairman Warren Lichtenstein
April 27 2021 - 5:09PM
Business Wire
Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global
holding company, today released its annual letter from the
Company's Executive Chairman, Warren Lichtenstein. The letter can
be accessed at
https://ir.steelpartners.com/static-files/cf744e81-03da-4833-b7bb-357f56fab5a2.
The annual letter includes reviews of the Company's 2020 financial
results, provides highlights and updates from the Company's
holdings, and discusses the philosophy and strategy going
forward.
About Steel Partners Holdings L.P.
Steel Partners Holdings L.P. (www.steelpartners.com) is a
diversified global holding company that owns and operates
businesses and has significant interests in leading companies in
various industries, including diversified industrial products,
energy, defense, supply chain management and logistics, banking and
youth sports.
Forward-Looking Statements
This press release and the annual letter contain certain
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that reflect SPLP's
current expectations and projections about its future results,
performance, prospects and opportunities. SPLP identifies these
forward-looking statements by using words such as "expect,"
"anticipate," "intend," "plan," "believe," "seek," "estimate," and
similar expressions. These forward-looking statements are only
predictions based upon the Company's current expectations and
projections about future events, and are based on information
currently available to the Company and are subject to risks,
uncertainties, and other factors that could cause its actual
results, performance, prospects, or opportunities in 2021 and
beyond to differ materially from those expressed in, or implied by,
these forward-looking statements. These factors include, without
limitation: the adverse effect of COVID-19 on business, results of
operations, financial condition, and cash flows; the material
weakness identified in our internal control over financial
reporting; the continued volatility of crude oil and commodity
prices; our subsidiaries' sponsor defined benefit pension plans,
which could subject the Company to substantial future cash flow
requirements; significant costs as a result of complying with
environmental laws and regulations, including those related to
restrictions on greenhouse gas emissions, and other extensive
requirements to which the Company is subject; risks associated with
our wholly-owned subsidiary, WebBank, as a result of its Federal
Deposit Insurance Corporation status, highly-regulated lending
programs, and capital requirements; the ability to meet obligations
under the Company's senior credit facility through future cash
flows or financings; the risk of management diversion, increased
costs and expenses, and impact on profitability in connection with
the Company's acquisitions; the impact of losses in the Company's
investment portfolio; the effects of rising interest rates on the
Company's investments and the phase-out of LIBOR on the interest
rates of our credit facilities; our ability to protect our
intellectual property rights and obtain or retain licenses to use
others' intellectual property on which the Company relies; our
exposure to risks inherent to conducting business outside of the
U.S.; the adverse impact of litigation or compliance failures on
the Company's profitability; a significant disruption in, or breach
in security of, our technology systems; labor disputes, the loss of
essential employees, and our ability to recruit and retain
experienced personnel, including key members of our management
team; economic downturns; the rights of unitholders with respect to
voting and maintaining actions against us or our affiliates; the
impact to the development of an active market for our units due to
transfer restrictions in the Company's Partnership Agreement; the
possible volatility of our common or preferred unit trading prices;
and other risks detailed from time to time in filings we make with
the SEC. These statements involve significant risks and
uncertainties, and no assurance can be given that the actual
results will be consistent with these forward-looking statements.
Investors should read carefully the factors described in the "Risk
Factors" section of the Company's filings with the SEC, including
the Company's Form 10-K for the year ended December 31, 2020, for
information regarding risk factors that could affect the Company's
results. Any forward-looking statement made in this press release
or the annual letter speaks only as of the date hereof, and
investors should not rely upon forward-looking statements as
predictions of future events. Except as otherwise required by law,
the Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, changed circumstances, or any other
reason.
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version on businesswire.com: https://www.businesswire.com/news/home/20210427006155/en/
Investors: Jennifer Golembeske 212-520-2300
jgolembeske@steelpartners.com
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