SEGUIN, Texas, Nov. 4, 2019 /PRNewswire/ -- Alamo Group
Inc. (NYSE: ALG) today announced that David
W. Grzelak will retire from the Board of Directors effective
December 13, 2019, due to personal
reasons.
Mr. Grzelak joined the Board in 2006 and has served on various
committees during his tenure, including most recently as Chairman
of the Compensation Committee. During this time he has made
significant contributions to Alamo Group's continued success.
Roderick R. Baty, Alamo Group's
Chairman said "We will miss Dave and would like to express our
sincere thanks for his leadership and guidance and for his resolute
focus on doing what is right for the Company and its
shareholders."
Mr. Grzelak commented "It has been a pleasure and an honor
serving on the Board of Alamo Group and I want to wish Alamo Group
every success in the future."
A search for a new director to serve on the Board following Mr.
Grzelak's retirement is already underway.
About Alamo Group
Alamo Group is a leader in the design, manufacture, distribution
and service of high quality equipment for infrastructure
maintenance, agriculture and other applications. Our products
include truck and tractor mounted mowing and other vegetation
maintenance equipment, street sweepers, snow removal equipment,
excavators, vacuum trucks, other industrial equipment, agricultural
implements and related after-market parts and services. The
Company, founded in 1969, has approximately 3,625 employees and
operates 29 plants in North
America, Europe,
Australia and Brazil as of September
30, 2019. Including the newly acquired Morbark
business, our products also include forestry and tree maintenance
equipment and we have a total of approximately 4,345 employees and
operate 32 plants globally. The corporate offices of Alamo
Group Inc. are located in Seguin,
Texas.
Forward Looking Statements
This release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995.
Forward looking statements include, but are not limited to,
statements about the benefits of the Morbark acquisition including
future financial performance, potential accretion impacts, and
synergistic benefits. Forward-looking
statements involve known and unknown risks and uncertainties, which
may cause the Company's actual results in future periods to differ
materially from forecasted results. Among those factors which could
cause actual results to differ materially are the following: market
demand, competition, weather, and other risk factors listed from
time to time in the Company's SEC reports. The
Company does not undertake any obligation to update the information
contained herein, which speaks only as of this date.
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SOURCE Alamo Group Inc.