POMONA, Calif., May 11, 2006 (PRIMEZONE) -- Keystone Automotive Industries, Inc. (Nasdaq:KEYS) today announced its intention to relocate some of the company's senior executives to new offices in Nashville, Tennessee, with a majority of the company's accounting, IT and marketing operations remaining in California. Select corporate offices, including the chief executive officer and chief financial officer, are expected to be relocated to Nashville over the next several months.
"Keystone has grown significantly over the last ten years and today employs more than 3,700 Team Members located across North America, with the majority of the company's operations east of the Mississippi. The decision to relocate the offices of certain corporate executives to Nashville reflects this strategic evolution and the practical benefits that we expect will be realized from locating more of the senior team to a central geographic location," said Richard L. Keister, president and chief executive officer.
About Keystone
Keystone Automotive Industries, Inc. distributes its products primarily to collision repair shops through its 136 distribution facilities, of which 22 serve as regional hubs, located in 38 states and Canada. Its product lines consist of automotive body parts, bumpers, and remanufactured alloy wheels, as well as paint and other materials used in repairing a damaged vehicle. These products comprise more than 19,000 stock keeping units that are sold to more than 25,000 repair shops throughout the United States and Canada.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company's current expectations and beliefs concerning future developments and their potential effects on the company, including any potential benefits to be realized from, and the costs related to, the relocation. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Cautionary Statements set forth in the company's Form 10-K Annual Report filed with the Securities and Exchange Commission(SEC) in June 2005 and in its Form 10-Qs filed with the SEC thereafter for additional risks and uncertainties facing the company. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.