SPARTANBURG, S.C., Jan. 21, 2011 (GLOBE NEWSWIRE) -- Synalloy Corporation (Nasdaq:SYNL), a producer of specialty chemicals, pigments, stainless steel pipe, vessels and process equipment, is pleased to announce the appointment of Craig C. Bram to the position of Chief Executive Officer of the Company effective January 24, 2011. During an extensive search covering almost a year, the Board of Directors considered several excellent candidates from both inside and outside the Company. It was decided that Mr. Bram had the ideal qualifications, with extensive experience in the management of a variety of companies together with the completion of several successful acquisitions. Mr. Bram comes with complete familiarity with the Company, having served on its Board of Directors for over 6 years. Until his planned retirement on April 30, 2011, Mr. Ronald H. Braam, who has been the Chief Executive Officer for the past five years, will act as Special Advisor to Mr. Bram. Under Mr. Braam's leadership the Company has repositioned both of its segments for future growth by several acquisitions and dispositions. After his retirement, Mr. Braam will continue to serve on the Board of Directors.
For more information about Synalloy Corporation, please visit our web site at www.synalloy.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this release that are not historical facts may be forward looking statements. The forward-looking statements are subject to certain risks and uncertainties, including without limitation those identified below, which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The following factors could cause actual results to differ materially from historical results or those anticipated: adverse economic conditions, the impact of competitive products and pricing, product demand and acceptance risks, raw material and other increased costs, customer delays or difficulties in the production of products, and other risks detailed from time to time in Synalloy's Securities and Exchange Commission filings. The preliminary earnings shown herein are forward-looking statements and are subject to change for any adjustments resulting from the auditing process. Synalloy Corporation assumes no obligation to update the information included in this release.
CONTACT: Rick Sieradzki at (864) 596-1558