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Charles R. Tutterow Named President Stevens Urethane Products
GREENVILLE, S.C., June 23 /PRNewswire-FirstCall/ -- JPS Industries, Inc. (Pink
Sheets: JPST) today announced that Charles R. "Chuck" Tutterow, Executive Vice
President, Chief Financial Officer and Secretary will assume the additional
responsibilities of President-Stevens Urethane effective July 1, 2005. Mr.
Tutterow replaces current President Richard W. Zimmer who is retiring June 30,
2005 after 20 years with JPS Industries, Inc.
Michael L. Fulbright, Chairman, President and Chief Executive Officer of JPS
Industries, Inc. stated, "It has been a pleasure and a privilege to have worked
with Dick these past six years. Taking charge of Stevens Urethane as President
in late 2001, he led the business through the difficult years of 2002 and 2003,
building a strong management team and a disciplined, professional organization
that has achieved outstanding results over the past eighteen months. Dick's
drive for perfection and team building was the catalyst that allowed our
Hampshire Plant to receive the global quality recognition that comes with
achieving the ISO-9001-2000 certification in August 2004. Certainly an
important part of Dick's legacy is the strong, professional management team
that he has put in place at Stevens Urethane that has us well positioned for
the future. We wish Dick and his family the very best in his well deserved
retirement."
Commenting further, "I am very pleased that Chuck will assume the added
responsibilities of President Stevens Urethane. His unique blend of business
experience garnered over the past two decades coupled with his close
involvement with the Urethane management team over the past five years, allows
us both a smooth transition and the addition of a top-caliber strategic manager
to lead the business to a higher level of performance. We are most fortunate
to have someone with Chuck's talent, discipline, experience, and leadership
style to take the reins at our Stevens Urethane business."
JPS Industries, Inc. is a major U.S. manufacturer of extruded urethanes,
polypropylenes and mechanically formed glass substrates for specialty
industrial applications. JPS specialty industrial products are used in a wide
range of applications, including: printed electronic circuit boards; advanced
composite materials; aerospace components; filtration and insulation products;
surf boards; construction substrates; high performance glass laminates for
security and transportation applications; plasma display screens; athletic
shoes; commercial and institutional roofing; reservoir covers; and medical,
automotive and industrial components. Headquartered in Greenville, South
Carolina, the Company operates manufacturing locations in Slater, South
Carolina; Westfield, North Carolina; and Easthampton, Massachusetts.
This press release contains statements that are forward-looking statements
regarding future events. These statements are only predictions and there are a
number of important factors that could cause future events to differ materially
from those expressed in any such forward-looking statements. These factors
include, without limitation, the general economic and business conditions
affecting the Company's industries, actions of competitors, changes in demand
in certain markets, the Company's ability to meet its debt service and pension
plan obligations (including its ability to meet the financial obligations in
its Credit Agreement), the Company's ability to realize its deferred tax asset,
the seasonality of the Company's sales, the volatility of the Company's raw
material, claims and energy costs, the Company's dependence on key personnel
and certain large customers and other risk factors. The Company assumes no
responsibility to update the forward-looking statements contained in this
release as a result of new information, future events or otherwise. JPS
Industries, Inc. is not responsible for changes made to this document by wire
services or Internet Services.
CONTACT: Charles R. Tutterow
Executive Vice President and Chief Financial Officer
864/239-3915
DATASOURCE: JPS Industries, Inc.
CONTACT: Charles R. Tutterow, Executive Vice President and Chief
Financial Officer of JPS Industries, Inc., +1-864-239-3915