CIRCOR Comments on Expiration of Crane’s Unsolicited Tender Offer
July 22 2019 - 07:30AM
Business Wire
CIRCOR International, Inc. (NYSE: CIR) (“CIRCOR”) today issued
the following statement in response to the expiration of Crane
Co.’s (NYSE: CR) (“Crane”) unsolicited tender offer:
CIRCOR is executing a detailed plan to
deliver substantial earnings growth while deleveraging the company
over the next 18 months. CIRCOR’s board and management are focused
on enhancing shareholder value and are confident that our plan will
deliver significant value in the near and long-term.
CIRCOR remains open to any transaction or set
of transactions that are in the best interests of CIRCOR and its
shareholders.
About CIRCOR
CIRCOR International, Inc. is a leading global flow control
technology company that designs, manufactures and markets
differentiated technology products and sub-systems for markets
including aerospace & defense, industrials, oil & gas and
commercial marine. CIRCOR has a diversified flow and motion control
product portfolio with recognized, market-leading brands that
fulfill its customers’ mission critical needs. CIRCOR’s strategy is
to grow organically and through complementary acquisitions;
simplify CIRCOR’s operations; achieve world class operational
excellence; and attract and retain top talent.
CIRCOR routinely posts information that may be important to
investors in the “Investor Relations” section of its website at
www.circor.com. CIRCOR encourages investors and potential investors
to consult the CIRCOR website regularly for important
information.
Forward Looking Statements
This press release contains forward-looking statements. Reliance
should not be placed on forward-looking statements because they
involve risks, uncertainties and other factors, which are, in some
cases, beyond the control of CIRCOR. Any statements in this press
release that are not statements of historical fact are
forward-looking statements, including, but not limited to, those
relating to CIRCOR’s plan to deliver significant value over the
near- and long-term, CIRCOR’s future performance and CIRCOR’s
strategic priorities. Actual events, performance or results could
differ materially from the anticipated events, performance or
results expressed or implied by such forward-looking statements.
Important factors that could cause actual results to vary from
expectations include, but are not limited to: our ability to
respond to competitive developments and to grow our business, both
domestically and internationally; changes in the cost, quality or
supply of raw materials; our ability to comply with our debt
obligations; our ability to successfully implement our acquisition,
divestiture or restructuring strategies, including our integration
of the Fluid Handling business; changes in industry standards,
trade policies or government regulations, both in the United States
and internationally; and our ability to operate our manufacturing
facilities at current or higher levels and respond to increases in
manufacturing costs. BEFORE MAKING ANY INVESTMENT DECISIONS
REGARDING CIRCOR, WE STRONGLY ADVISE YOU TO READ THE SECTION
ENTITLED “RISK FACTORS” IN OUR MOST RECENT ANNUAL REPORT ON FORM
10-K AND SUBSEQUENT REPORTS ON FORMS 10-Q, WHICH CAN BE ACCESSED
UNDER THE “INVESTORS” LINK OF OUR WEBSITE AT WWW.CIRCOR.COM. We
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190722005314/en/
Investor Contact David F. Mullen Senior Vice President
Finance CIRCOR International (781) 270-1200
Additional Investor Contact MacKenzie Partners, Inc. Dan
Burch, (212)929-5784, dburch@mackenziepartners.com Paul Schulman,
(212) 929-5364, pschulman@mackenziepartners.com Larry Schimmel,
(212) 378-7068, lschimmel@mackenziepartners.com
Media Contact Matthew Sherman / Andi Rose / Nick
Lamplough Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449
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