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|Blount Announces Executive Retirement and Supply Chain and Manufacturing Management Changes
"Ken has had a remarkable career with Blount over the past 40 years. His leadership has contributed significantly to our success in becoming a leading company within our industry," stated
In advance of his retirement, Mr. Saito's responsibilities will be divided among three new positions.
"We are fortunate to have strong leaders within the organization to step up and fill the roles needed to continue the significant progress we have made within our manufacturing and supply chain organization," stated Mr. Collins. "David, Bill, and Jeff have worked closely with Ken in recent years, which will support a seamless transition over the coming months."
Blount is a global manufacturer and marketer of replacement parts, equipment, and accessories for consumers and professionals operating primarily in two market segments: Forestry, Lawn, and Garden ("FLAG"); and Farm, Ranch, and Agriculture ("FRAG"). Blount also sells products in the construction markets and is the market leader in manufacturing saw chain and guide bars for chain saws. Blount has a global manufacturing and distribution footprint and sells its products in more than 115 countries around the world. Blount markets its products primarily under the
"Forward looking statements" in this release, including without limitation Blount's "outlook," "expectations," "beliefs," "plans," "indications," "estimates," "anticipations," "guidance" and their variants, as defined by the Private Securities Litigation Reform Act of 1995, are based upon available information and upon assumptions that Blount believes are reasonable; however, these forward looking statements involve certain risks and should not be considered indicative of actual results that Blount may achieve in the future. In particular, among other things, guidance given in this release is expressly based upon certain assumptions concerning market conditions, foreign currency exchange rates, and raw material costs, especially with respect to the price of steel, the presumed relationship between backlog and future sales trends and certain income tax matters, as well as being subject to the uncertainty of the current global economic situation. To the extent that these assumptions are not realized going forward, or other unforeseen factors arise, actual results for the periods subsequent to the date of this announcement may differ materially.