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Brunswick Technologies First Quarter Results and CertainTeed’s Tender Offer

  • Tuesday, 2nd May 2000
  • Reading time: about 2 minutes

Brunswick Technologies Inc, a leading manufacturer and innovative developer of composite reinforcements, announced it will report first quarter 2000 financial results on Friday, May 5, 2000. BTI is currently the subject of an unsolicited tender offer by Compaigne de Saint-Gobain’s wholly owned subsidiary CertainTeed Corporation. BTI’s Board is continuing to evaluate the offer and has retained McDonald Investments Inc. to assist in that process. BTI has advised shareholders not to respond to the offer and that BTI’s Board of Directors will provide its recommendation on the offer to shareholders prior to May 4, 2000. In addition, BTI has alleged that CertainTeed and its affiliates, the owner of approximately 14% of the outstanding common shares of and a major supplier to BTI, violated Sections 13(d) and 14(d) of the Securities Exchange Act by failing to make timely amendments to its Schedule 13D disclosing its intent to acquire control of BTI, and by failing to comply with SEC requirements concerning the delivery to BTI of its tender offer materials. In addition, BTI’s 5 Count Complaint alleges that the actions of CertainTeed and its affiliates have violated Maine state law. As part of the relief requested, BTI has asked in the best interests of all BTI shareholders that the federal district court enter an interim order temporarily halting CertainTeed’s tender offer for 30 days, so that BTI’s Board of Directors can undertake a reasoned and expeditious evaluation of the terms and conditions of the tender offer and make a recommendation to its shareholders. Examples of products manufactured with BTI engineered reinforcements include: ballistic armor, boats, snowboards, railcars, truck panels, wind blades, airframe structures, automotive parts, marine pilings, bridges, and offshore oil and gas production equipment. BTI has manufacturing facilities in the Maine, Texas and the UK.

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