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8-K - FORM 8-K - LIBBEY INC | c55321e8vk.htm |
Exhibit 99.1
Libbey Inc. 300 Madison Ave P.O. Box 10060 Toledo, OH 43699 |
NEWS RELEASE
AT THE COMPANY: |
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Kenneth Boerger
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Greg Geswein | |
VP/Treasurer
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VP/Chief Financial Officer | |
(419) 325-2279
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(419) 325-2451 |
FOR IMMEDIATE RELEASE
WEDNESDAY, DECEMBER 30, 2009
WEDNESDAY, DECEMBER 30, 2009
LIBBEY INC. ANNOUNCES APPROVAL FOR NYSE AMEX
LISTING
LISTING
TOLEDO, OHIO, DECEMBER 30, 2009Libbey Inc. (OTC Bulletin Board: LYBI) announced today that
its common stock has been approved for listing on the NYSE Amex. Trading is expected to commence
on the NYSE Amex on Monday, January 4, 2010 under the ticker symbol LBY (NYSE Amex: LBY).
We are pleased to be moving our stock listing from the OTC Bulletin Board to the NYSE Amex,
said John F. Meier, chairman and chief executive officer. This listing marks an important step in
our ongoing efforts to improve our stocks liquidity while we continue to implement our growth
strategy. We are also pleased that our stock will once again trade under the symbol LBY.
We welcome Libbey Inc. to the NYSE Euronext family of listed companies, said Scott Cutler, Head
of Listings, Americas, NYSE Euronext. Libbey and its shareholders will benefit from the superior
market quality, technology and services provided by listing on NYSE Amex.
This press release includes forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Such statements only reflect the Companys best assessment at
this time and are indicated by words or phrases such as goal, expects, believes, will,
estimates, anticipates, or similar phrases. Investors are cautioned that forward-looking
statements involve risks and uncertainty, that actual results may differ materially from such
statements, and that investors should not place undue reliance on such statements. These
forward-looking statements may be affected by the risks and uncertainties in the Companys
business. This information is qualified in its entirety by cautionary statements and risk factor
disclosures contained in the Companys Securities and Exchange Commission filings,
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Libbey Inc.
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including the Companys report on Form 10-K filed with the Commission on March 16, 2009.
Important factors potentially affecting performance include but are not limited to increased
competition from foreign suppliers endeavoring to sell glass tableware in the United States and
Mexico; the impact of lower duties for imported products; global economic conditions and the
related impact on consumer spending levels; major slowdowns in the retail, travel or entertainment
industries in the United States, Canada, Mexico, Western Europe and Asia, caused by terrorist
attacks or otherwise; significant increases in per-unit costs for natural gas, electricity,
corrugated packaging, and other purchased materials; higher indebtedness related to the Crisa
acquisition; higher interest rates that increase the Companys borrowing costs or volatility in the
financial markets that could constrain liquidity and credit availability; protracted work stoppages
related to collective bargaining agreements; increases in expense associated with higher medical
costs, increased pension expense associated with lower returns on pension investments and increased
pension obligations; devaluations and other major currency fluctuations relative to the U.S. dollar
and the Euro that could reduce the cost competitiveness of the Companys products compared to
foreign competition; the effect of high inflation in Mexico and exchange rate changes to the value
of the Mexican peso and the earnings and cash flow of Crisa, expressed under U.S. GAAP; the
inability to achieve savings and profit improvements at targeted levels in the Companys operations
or within the intended time periods; and whether the Company completes any significant acquisition
and whether such acquisitions can operate profitably. Any forward-looking statements speak only as
of the date of this press release, and the Company assumes no obligation to update or revise any
forward-looking statement to reflect events or circumstances arising after the date of this press
release.
Libbey Inc.:
| is the largest manufacturer of glass tableware in the western hemisphere and one of the largest glass tableware manufacturers in the world; | |
| is expanding its international presence with facilities in China, Mexico, the Netherlands and Portugal; | |
| is the leading manufacturer of tabletop products for the U.S. foodservice industry; and | |
| supplies products to foodservice, retail, industrial and business-to-business customers in over 100 countries. |
Based in Toledo, Ohio, since 1888, Libbey operates glass tableware manufacturing plants in the
United States in Louisiana and Ohio, as well as in Mexico, China, Portugal and the Netherlands.
Its Crisa subsidiary, located in Monterrey, Mexico, is the leading producer of glass tableware in
Mexico and Latin America. Its Royal Leerdam subsidiary, located in Leerdam, Netherlands, is among
the world leaders in producing and selling glass stemware to retail, foodservice and industrial
clients. Its Crisal subsidiary, located in Portugal, provides an expanded presence in Europe. Its
Syracuse China subsidiary designs and distributes an extensive line of high-quality ceramic
dinnerware, principally for foodservice establishments in the United States. Its World Tableware
subsidiary imports and sells a full-line of metal flatware and holloware and an assortment of
ceramic dinnerware and other tabletop items principally for foodservice establishments in the
United States. Its Traex subsidiary, located in Wisconsin, designs, manufactures and distributes
an extensive line of plastic items for the foodservice industry. In 2008, Libbey Inc.s net sales
totaled $810.2 million.