Leading industrial safety grating and perforated/expanded metals manufacturers combine to offer seamless execution
LIBERTYVILLE, Ill., Sept. 2, 2014 (GLOBE NEWSWIRE) -- Jason Industries (Nasdaq:JASN), parent company to a global family of manufacturing leaders in the seating, finishing, components and automotive acoustics markets, announces that, effective September 1, 2014, two of its companies – Morton Manufacturing Company, a Libertyville, Illinois-based manufacturer of industrial safety grating and railroad running boards, and Metalex Corporation, a premier manufacturer of perforated metals, perforated tubes and expanded metal products – have legally merged operations and will begin doing business under the Metalex name. Additionally, the merged company unveils a new logo, tagline and website (www.metlx.com) to more fully present the breadth of its product offerings and the wide-ranging solutions the organization can deliver.
"While Morton and Metalex each have a long history of success as stand-alone businesses, merging them is a logical move due to the countless synergies between their products and processes," said David Westgate, CEO of Jason Industries. "We anticipate that the new Metalex will be a boon to customers who will benefit from an expanded range of resources and knowledge."
Going forward, Metalex will utilize the tagline of "Expertise. Execution. Excellence." "In selecting a tagline for incorporation into our branding and marketing efforts, we decided upon one that succinctly summarizes our corporate values and strengths," said Steve Carollo, vice president and general manager at Metalex. "This statement reiterates our expertise across a range of industries, excellence in our commitment to offering unparalleled customer service and superior solutions, and best-in-class performance in all areas of execution."
While this effort puts new polish on the Metalex brand, the teams and the processes they utilize will remain in place. Furthermore, the merged company will continue to offer the same products and services.
About Metalex
Metalex, a Jason company, is a premier producer of industrial safety grating, expanded metal, perforated metal, welded, and spiral tubes. While the Metalex brand was established in 1962, the company's products have a decades-long history, including its industrial safety grating line, which was established in 1903 under the Morton Manufacturing brand name. Headquartered in Libertyville, Illinois, Metalex offers custom solutions to customers in a range of industries throughout the United States. To learn more, visit www.metlx.com.
About Jason Industries
Jason Industries is parent company to a global family of manufacturing leaders within the seating, finishing, components and automotive acoustics markets, including Assembled Products (Buffalo Grove, Ill.), Janesville Acoustics (Southfield, Mich.), Metalex (Libertyville, Ill.), Milsco (Milwaukee, Wis.), Osborn (Cleveland, Ohio and Burgwald, Germany) and Sealeze (Richmond, Va.). All Jason companies utilize the Jason Business System, a collaborative manufacturing strategy applicable to a diverse group of companies that includes business principles and processes to ensure best-in-class results and collective strength.
Headquartered in Milwaukee, Wis., Jason employs more than 4,000 individuals in 15 countries. Shares in Jason Industries are traded on NASDAQ, ticker symbol: JASN. To learn more, visit www.jasoninc.com.
Forward-Looking Statements
This press release may include "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include projected financial information. Such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the businesses of Jason Industries, Inc. ("JASN") are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements.
The forward‐looking statements contained in this press release are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you review and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond our control) and assumptions. Although we believe that these forward‐looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual results and cause them to differ materially from those anticipated in the forward-looking statements.
More information on potential factors that could affect the Company's financial condition and operating results is included in the "Risk Factors" section of the Company's Proxy Statement dated June 16, 2014 and in the "Management's Discussion and Analysis of Financial Condition and Results of Operations" for the period ended June 27, 2014 included in the Company's Form 8-K/A filed on August 11, 2014. Any forward‐looking statement made by us in this press release speaks only as of the date on which we make it. We undertake no obligation to publicly update any forward‐looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.