POMONA, Calif., Feb. 3, 2005 (PRIMEZONE) -- Keystone Automotive Industries, Inc. (Nasdaq:KEYS) today announced the appointment of Stephen A. Rhodes and Ronald Moore to its board of directors, increasing the board to a total of eight members.
"Operational and marketing improvements are important components of management's strategic focus and central to its ability to address and leverage future growth. Our new board members offer tremendous industry and operational experience and we look forward to their contributions," said Ronald Foster, chairman of Keystone Automotive.
Stephen Rhodes has held a variety of senior executive positions within the automotive industry and currently serves on the board of Hitachi Metals America. He served as president and chief executive officer of a subsidiary of Hitachi, Casting Products -- which included another Hitachi subsidiary, AAP Corporation, an automotive aluminum wheel manufacturer. His career experience also includes serving as president and chief executive officer of Charterhouse Automotive Group, and later as chairman until its sale in 1998.
Rhodes earned his Bachelor and Master of Science degrees in Mechanical Engineering from Washington State University, where he graduated Cum Laude.
During a more than 30-year career with Midas International Corporation, Ron Moore held a variety of executive positions. He served as president and chief executive officer of Midas for 16 years until retiring from the company in 1998. Moore earned a Bachelor of Science degree from University of Colorado and graduated from the Advanced Management Program at Harvard University. Moore currently serves on the boards of several companies, universities and organizations, including The Monroe Group and the University of Colorado Foundation.
About Keystone
Keystone Automotive Industries, Inc. distributes its products primarily to collision repair shops through its 129 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. There can be no assurance that future developments affecting the company will be those anticipated by the company. Actual results may differ from those projected in the forward-looking statements. 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) on June 9, 2004 and in Part II, item 5 of 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.