MSA Stock to Trade on NYSE
28 Juin 2004 - 10:30PM
PR Newswire (US)
MSA Stock to Trade on NYSE Move to NYSE Expected to Increase
Company Coverage and Attract More Investors PITTSBURGH, June 28
/PRNewswire-FirstCall/ -- MSA, the world's leading manufacturer of
safety equipment for worker and plant protection, will begin
trading its stock on the New York Stock Exchange (NYSE:MSA)
effective July 12, 2004, John T. Ryan III, MSA chairman and chief
executive officer, announced today. MSA's stock is presently traded
on the AMEX Stock Market (AMEX:MSA). The decision to move to the
NYSE provides MSA with an effective opportunity to attract new
investors, Mr. Ryan commented. "The NYSE is certainly the global
leader in terms of being able to provide companies with premium
positioning in the marketplace," he said. "We believe this move
will enhance the visibility of MSA and our common stock, and
subsequently enhance our ability to attract greater institutional
and private investment." MSA moved from the NASDAQ exchange to the
AMEX exchange in 2000 to take advantage of AMEX's auction-model
structure, which helped narrow the spread between bid and ask
prices. Like AMEX, the NYSE provides price discovery based on
auction market principles enhanced by specialists. "The AMEX
exchange provided fine service to the company and its investors,
which I appreciate," Mr. Ryan said. "However, as the sales volume
and market value of MSA stock has increased due to our positive
business performance over recent years, moving to the NYSE became
appropriate. This is part of our strategy to increase the
visibility of our company. MSA is a fundamentally strong company
with a great story to tell, and we believe the NYSE offers an ideal
platform to help us achieve that goal." Mr. Ryan added that the
company will be able to maintain its current trading symbol of
"MSA" on the NYSE. "This was important to us because it allows us
to reinforce and build global brand recognition for the MSA name."
"This is a noteworthy day for MSA, our associates and our
shareholders. Moving to the New York Stock Exchange is a
significant milestone for a company that was founded 90 years ago.
The New York Stock Exchange is an optimal platform to showcase
MSA's passion for safety," Mr. Ryan concluded. The New York Stock
Exchange is home to 2,744 companies whose total global market
capitalization exceeds $17.6 trillion. NYSE-listed companies range
from "blue chip," to many of the world's leading technology
companies, and young, high-growth enterprises. Buyers and sellers
meet directly in a fair, open and orderly market to realize the
best possible price through the interplay of supply and demand. On
an average day in 2004, 1.5 billion shares, valued at $47.9
billion, trade on the NYSE. "The Exchange is privileged to welcome
MSA, a worldwide leader in the production of safety equipment and
systems, to its family of listed companies," said NYSE President
& co-COO Cathy Kinney. "We look forward to an outstanding
partnership with the company and its shareholders." Established in
1914, MSA is a global leader in the development, manufacture and
supply of sophisticated products that protect people's health and
safety. The company has annual sales of nearly $700 million,
manufacturing operations throughout the United States and Europe
and 28 international affiliates. MSA's comprehensive line of
products is used by workers around the world in the fire service,
homeland security, construction and other industries, as well as
the military. These products include self- contained breathing
apparatus, gas masks, gas detection instruments, head protection,
respirators and thermal imaging cameras. The company also provides
a broad offering of consumer and contractor safety products, which
are available through select home center retail outlets under the
MSA Safety Works brand. This press release of MSA contains
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
MSA cautions readers that statements relating to future aspects of
the offering are forward-looking statements and are based on
management's current expectations, estimates and projections. Words
such as "anticipates," "expects," "intends," "plans," "targets,"
"projects," "believes," "seeks," "estimates" and similar
expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and
other factors, many of which are beyond MSA's control and are
difficult to predict. Therefore, actual outcomes and results may
differ materially from what is expressed or forecasted in such
forward-looking statements. You should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this release. For more details on factors that could affect
expectations, please see MSA's filings with the Securities and
Exchange Commission, including its registration statement on Form
S-3. Unless legally required to do so, MSA undertakes no obligation
to revise or update publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.
DATASOURCE: MSA CONTACT: Mark Deasy of MSA (Mine Safety Appliances
Company), +1-412-967-3357 Web site: http://www.msanet.com/
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