MSA Safety (NYSE:MSA)
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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/