Fedders Corporation to Appeal New York Stock Exchange Decision to Suspend Trading in Its Stock
31 Octobre 2006 - 10:52PM
PR Newswire (US)
LIBERTY CORNER, N.J., Oct. 31 /PRNewswire-FirstCall/ -- Fedders
Corporation (NYSE:FJC), a leading global manufacturer of air
treatment products, including air conditioners, furnaces, air
cleaners and humidifiers for residential, commercial and industrial
markets, announced today that it intends to appeal the decision by
the New York Stock Exchange to suspend trading, beginning November
8, in its common and preferred stock, due to falling below its
minimum market capitalization listing standards. The company stated
that it has developed and is making significant progress in
executing a plan that it believes will restore the company's
compliance with the standard. The plan comprises, among other
things, focusing on the profitable and growing segments of its core
HVAC business and the previously announced sale of its non-core
businesses. During the appeal process, the company's stock will
trade on the OTC Bulletin Board. The company expects to announce
the symbol under which it will trade, and the Market Makers, prior
to the close of business on November 7. This news release may
include forward-looking statements that are covered under the
"Safe-Harbor" clause of the Private Securities Litigation Reform
Act of 1995. Such statements are based upon current expectations
and assumptions. Actual results could differ materially from those
currently anticipated as a result of known and unknown risks and
uncertainties including, but not limited to, weather and economic,
political, market and industry conditions and reliance on key
customers. Such factors are described in Fedders' SEC filings,
including its most recently filed annual report on Form 10-K. The
company disclaims any obligation to update any forward-looking
statements to incorporate developments occurring after release of
this announcement. Visit the Fedders investor information website
at http://www.fedders.com/ to access additional information on
Fedders. DATASOURCE: Fedders Corporation CONTACT: Kent E. Hansen of
Fedders Corporation, +1-908-604-8686 Web site:
http://www.fedders.com/
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