NAUGATUCK, Conn.--(BUSINESS WIRE)--The Eastern Company (the "Company" or “Eastern”) (NASDAQ:EML) announced today that Leonard F. Leganza, its former Chairman of the Board, and President & CEO of the Company passed away on Tuesday, March 7, 2017.
Jim Mitarotonda, Chairman of the Board of Eastern, said, “Len was a wonderful man who genuinely cared for the Eastern family. It has been a privilege to get to know him in recent years.”
“Eastern is better and stronger company as a result of Len’s leadership. He left Eastern with an exceptionally strong balance sheet that has successfully weathered a number of crises,” added August Vlak, President & CEO of the Company.
Mr. Leganza was a Director of Eastern from 1980 until his death. He became President and CEO in April, 1997 and was appointed Chairman in December, 2006. He held both positions until his retirement in December, 2015.
About the Company
The Eastern
Company is a 158-year-old manufacturer of industrial hardware, security
products and metal castings. It operates from 13 locations in the U.S.,
Canada, Mexico, Taiwan and China. The diversity of the Company’s
products helps it to respond to the changing requirements of a broad
array of markets. More information on the Company can be found at www.easterncompany.com
Safe Harbor for Forward-Looking Statements
Statements in
this document about the Company’s future expectations, beliefs, goals,
plans or prospects constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Any
statements that are not statements of historical fact (including
statements containing the words “believes,” “plans,” “anticipates,”
“expects,” “estimates” and similar expressions) should also be
considered to be forward-looking statements. There are a number of
important factors that could cause actual results or events to differ
materially from those indicated by such forward-looking statements,
including those set forth in the Company’s reports and filings with the
U.S. Securities and Exchange Commission. The Company is not obligated to
update or revise any forward-looking statements as a result of
developments occurring after the date of this document.