Royal Group Technologies Limited to Host Annual Meeting & Special Meeting of Shareholders On August 4, 2006
July 27 2006 - 6:54PM
PR Newswire (US)
TORONTO, July 27 /PRNewswire-FirstCall/ -- Royal Group Technologies
Limited (RYG: TSX, NYSE) reiterated today that it is hosting its
Annual Meeting and Special Meeting of shareholders on August 4,
2006. The meetings will be held at the Metro Toronto Convention
Center, 255 Front St. West in the City of Toronto. The Annual
Meeting will commence at 2:00 p.m and the Special Meeting will
commence at 2:30 p.m. Both meetings will be held in the North
Building, Constitution Hall, room 105. A simultaneous web cast of
the meetings will be available in the "Investor relations" section
of Royal's web site, located at http://www.royalgrouptech.com/
Royal Group Technologies is a leading producer of innovative,
attractive, durable, and low-maintenance home improvement and
building products, which are primarily utilized in both the
renovation and new construction sectors of the North American
construction industry. Royal Group is the recipient of several
industry awards for product innovation. The Company has
manufacturing operations located throughout North America in order
to provide industry-leading service to its extensive customer
network. Additional investment information is available on Royal
Group's web site at http://www.royalgrouptech.com/ under the
"Investor Relations" section. The information in this document
contains certain forward-looking statements with respect to Royal
Group Technologies Limited, its subsidiaries, and affiliates. These
statements are often, but not always made through the use of words
or phrases such as "expect", "should ", "continue", "believe",
"anticipate", "suggest", "estimate", "contemplate", "target",
"plan", "budget", "may", "will", "schedule" and "intend" or similar
formulations. By their nature, these forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject
to significant, known and unknown, business, economic, competitive
and other risks, uncertainties and other factors affecting Royal
Group specifically or its industry generally that could cause the
Company's actual performance, achievements and financial results to
differ materially from past results and from those expressed in any
forward-looking statements made by or on behalf of the Company.
These risks and uncertainties include the ongoing shareholder value
maximization process and its outcome; the ongoing internal review
and investigations by the Audit Committee of the Board of Directors
and its outcome; the outcome of the ongoing investigations by the
United States Department of Justice, RCMP, OSC, and SEC; the
outcome of the discussions with the SEC on the Company's historical
disclosure; the outcome of class action shareholders lawsuits
against the Company filed in the United States and Canada;
fluctuations in the level of renovation, remodelling and
construction activity; changes in product costs and pricing; an
inability to achieve or delays in achieving savings related to cost
reductions or increases in revenues related to sales price
increases; the sufficiency of any restructuring activities,
including the potential for higher actual costs to be incurred in
connection with any restructuring activities compared to the
estimated costs of such actions; the ability to recruit and retain
qualified employees; the level of Royal Group's outstanding debt
and current debt ratings; Royal Group's ability to maintain
adequate liquidity and refinance its debt structure by December 31,
2006, the expiry date of its current bank credit facility; the
Company's ability to complete the required processes and provide
the internal control report that will be required under U.S.
securities law in respect of fiscal 2006; the ability to meet the
financial covenants in Royal Group's credit facilities; changes in
Royal Group's product mix; the growth rate of the markets into
which Royal Group's products are sold; market acceptance and demand
for Royal Group's products; changes in availability or prices for
raw materials; pricing pressures resulting from competition;
difficulty in developing and introducing new products; failure to
penetrate new markets effectively; the effect on foreign operations
of currency fluctuations, tariffs, nationalization, exchange
controls, limitations on foreign investment in local business and
other political, economic and regulatory risks; difficulty in
preserving proprietary technology; adverse resolution of any
litigation, investigations, administrative and regulatory matters,
intellectual property disputes, or similar matters; changes in
securities, environmental or health and safety laws, rules and
regulations; currency risk exposure and other risks described from
time to time in publicly filed disclosure documents and securities
commission reports of Royal Group Technologies Limited and its
subsidiaries and affiliates. In view of these uncertainties we
caution readers not to place undue reliance on these
forward-looking statements. Statements made in this document are
made as of July 27, 2006 and Royal Group disclaims any intention or
obligation to update or revise any statements made herein, whether
as a result of new information, future events or otherwise.
DATASOURCE: Royal Group Technologies Limited CONTACT: Mark Badger,
Vice President of Marketing and Corporate Communications, Royal
Group Technologies Limited, Phone: (905) 264-0701
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