CAMDEN, N.Y.--(BUSINESS WIRE)--International Wire Group Holdings, Inc. (the “Company”) (OTC Pink:ITWG) today announced that each of Adam Kleinman, Peter Reed, Peter Blum, Sanford D. Lyons and Hugh Steven Wilson have resigned their positions as members of the Boards of Directors (the “Board). The Board has appointed David Steinberg and Charles Tillen as directors until the Company’s 2017 annual meeting.
In regards to this announcement, International Wire President and Chief Executive Officer, Ed Flynn, said, “On behalf of the International Wire Board of Directors and the management team, I would like to thank our departing directors for their dedicated service and commitment in support of International Wire over many years.”
The Board has also rescheduled the 2017 annual meeting. The 2017 annual meeting will now take place on August 22, 2017, at 1:00 p.m., Eastern Time, at The Fairmont Copley Plaza, Boston MA 02116. The new record date for this annual meeting will be June 29, 2017.
The annual meeting previously scheduled for June 13, 2017 will not be held.
About International Wire Group Holdings, Inc.
International Wire Group Holdings, Inc., through its subsidiaries, is a manufacturer and marketer of wire products, including bare, silver-plated, nickel-plated and tin-plated copper wire, engineered wire products and high performance conductors, for other wire suppliers, distributors and original equipment manufacturers. Its products include a broad spectrum of copper wire configurations and gauges with a variety of electrical and conductive characteristics and are utilized by a wide variety of customers primarily in the industrial and energy, electronics and data communications, automotive/specialty vehicles, aerospace and defense, medical products and consumer and appliance industries. The Company has eighteen manufacturing facilities and one distribution facility located throughout the United States, France, Italy and Poland.
Forward-Looking Information is Subject to Risk and Uncertainty
Certain statements in this release may constitute “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words “expect,” “may,” “will,” “anticipate” or the negative of any thereof or other variations thereof or comparable terminology, or by discussions of strategy or intentions. Undue reliance should not be placed on any forward-looking statements. These statements are based on management’s current beliefs and assumptions and on information currently available to management as of the date they were made. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Many factors could cause our results to differ materially from those expressed in forward-looking statements. These factors include, but are not limited to, fluctuations in our operating results and customer orders, unexpected decreases in demand or increases in inventory levels, changes in the price of copper, tin, nickel and silver, developments in the competitive environments of the markets we serve, our reliance on our significant customers, lack of long-term contracts, our substantial dependence on business outside of the U.S. and changes in exchange rates and other risks associated with our international operations, limitations due to our indebtedness, potential loss of key employees or the deterioration in our relationship with employees, litigation, claims, liability from environmental laws and regulations and other factors. For additional information regarding the factors that may cause our actual results to differ from those expected by our forward-looking statements, see “Risk Factors” in the Company’s 2016 financial report. This report is accessible on the “Financial Information” page on the Investor Relations portion of the Company’s website, available at http://internationalwiregroup.gcs-web.com or http://www.internationalwiregroup.com.