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8-K - FORM 8-K - TUFCO TECHNOLOGIES INC | d82681e8vk.htm |
EX-10.2 - EX-10.2 - TUFCO TECHNOLOGIES INC | d82681exv10w2.htm |
EX-10.1 - EX-10.1 - TUFCO TECHNOLOGIES INC | d82681exv10w1.htm |
Exhibit 99.1
Page 1 of 2
Page 1 of 2
NEWS RELEASE
For Immediate Release
TUFCO TECHNOLOGIES, INC. ANNOUNCES PLANNED RETIREMENT OF
LOUIS LECALSEY, III ; APPOINTMENT OF JAMES F. ROBINSON AS
PRESIDENT AND CHIEF EXECUTIVE OFFICER
LOUIS LECALSEY, III ; APPOINTMENT OF JAMES F. ROBINSON AS
PRESIDENT AND CHIEF EXECUTIVE OFFICER
GREEN BAY, WI (May 31, 2011)Tufco Technologies, Inc. (NASDAQ: TFCO) today announced that Louis
LeCalsey, III will retire on September 19, 2011. Until that time, he will continue to function as
President and CEO. Concurrent with Mr. LeCalseys retirement, James F. Robinson, currently Tufcos
Senior Vice President Contract Manufacturing Sales and Marketing, will assume the positions of
President and CEO, as well as become a member of the Companys Board of Directors. Mr. LeCalsey
will remain on the Companys Board of Directors and will also become a Senior Advisor to the
Company under a consulting agreement.
Mr. Robinson has been with the Company since January 11, 2010. Prior to joining Tufco he served as
Business Development and Technical Director and Business Director-Latin America for Mondi, an
international paper and packaging group with revenues in excess of $8.5 billion. Mr. Robinson was
also a founding member of Hygenitec, a Wisconsin wet wipes manufacturer. He received a BA in
Business Administration/Economics from Lakeland College and attended graduate school at La
Universidad Autónoma Del Estado de Morelos-Centro Bilingűe in Mexico.
We want to thank Lou for his many years of dedicated service and agreeing to stay on as a Senior
Advisor, said Robert J. Simon, Tufcos Chairman of the Board. Also, having a meaningful amount
of time for a transition period should benefit our customers, employees and shareholders. We have
confidence that Jim Robinson will accelerate the business building and profit improvement efforts
already underway.
Tufco, headquartered in Green Bay, Wisconsin, has manufacturing operations in Wisconsin and
North Carolina.
Page 2 of 2
Information about the results reported herein, or copies of the Companys Quarterly Reports, may be
obtained by calling the contact person listed below.
This press release, including the discussion of the Companys fiscal 2011 results in comparison to
fiscal 2010 contains forward-looking statements regarding current expectations, risks and
uncertainties for future periods. The actual results could differ materially from those discussed
herein due to a variety of factors such as the Companys ability to increase sales, changes in
customer demand for its products, cancellation of production agreements by significant customers
including two Contract Manufacturing customers it depends upon for a significant portion of its
business, its ability to meet competitors prices on products to be sold under these production
agreements, the effects of the economy in general, the Companys ability to refinance or replace
its line of credit, which expires January 31, 2012, the Companys inability to benefit from any
general economic improvements, material increases in the cost of raw materials, competition in the
Companys product areas, the ability of management to successfully reduce operating expenses
including labor and waste costs in relation to net sales, the Companys ability to increase sales
and earnings as a result of new projects, the Companys ability to successfully install new
equipment on a timely basis, the Companys ability to continue to produce new products, the
Companys ability to continue to improve profitability, the Companys ability to successfully
attract new customers through its sales initiatives and strengthening its new business development
efforts, and the Companys ability to improve the run rates for its products. Therefore, the
financial data for the periods presented may not be indicative of the Companys future financial
condition or results of operations. The Company assumes no responsibility to update the
forward-looking statements contained in this press release.
Contact:
|
Michael B. Wheeler, VP and CFO | |
Tufco Technologies, Inc. | ||
P. O. Box 23500 | ||
Green Bay, WI 54305-3500 | ||
(920) 336-0054 | ||
(920) 336-9041 (Fax) |