Noble Announces Appointment of Corporate Officers
WARREN, Mich., May 26, 2006 -- Noble International, Ltd., ("Noble" or the "Company") reported the results of its recent Board of Directors meeting, held May 19, 2006. The Board approved several resolutions, including the confirmation or promotion of certain executives as well as the appointment of the Company's auditors for 2006.
The Board elected several executive officers of Noble International, Ltd. The following appointments were confirmed:
* Robert J. Skandalaris, Chairman of the Board * Thomas L. Saeli, Chief Executive Officer * Steven A. Prue, President * David J. Fallon, Chief Financial Officer and Vice President * Jay J. Hansen, Chief Operating Officer * Michael C. Azar, Vice President of Administration and Secretary * Andrew J. Tavi, Vice President and General Counsel * Craig S. Parsons, Vice President of Sales
The Board also appointed Deloitte & Touche, LLP as the Company's independent public accountant for 2006 to audit the Company's consolidated financial statements and to perform other appropriate services as directed by management and the Board of Directors.
As previously disclosed, the Board also approved a 20% increase in Noble's quarterly dividend, to $0.08 per share, payable June 30, 2006 to shareholders of record as of June 16, 2006.
SAFE HARBOR STATEMENT
Noble International, Ltd. is a leading supplier of automotive parts, component assemblies and value-added services to the automotive industry. As an automotive supplier, Noble provides design, engineering, manufacturing, complete program management and other services to the automotive market. Noble delivers integrated component solutions, technological leadership and product innovation to original equipment manufacturers (OEMs) and Tier I automotive parts suppliers thereby helping its customers increase their productivity while controlling costs.
Certain statements made by Noble International, Ltd. in this and other periodic oral and written statements, including filings with the Securities and Exchange Commission, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- looking statements, as well as statements which address operating performance, events or developments that we believe or expect to occur in the future, including those that discuss strategies, goals, outlook or other non- historical matters, or which relate to future sales or earnings expectations, cost savings, awarded sales, volume growth, earnings or a general belief in our expectations of future operating results, are forward-looking statements. The forward-looking statements are made on the basis of management's assumptions and estimations. As a result, there can be no guarantee or assurance that these assumptions and expectations will in fact occur. The forward-looking statements are subject to risks and uncertainties that may cause actual results to materially differ from those contained in the statements. Some, but not all of the risks, include our ability to obtain future sales; our ability to successfully integrate acquisitions; changes in worldwide economic and political conditions, including adverse effects from terrorism or related hostilities including increased costs, reduced production or other factors; costs related to legal and administrative matters; our ability to realize cost savings expected to offset price concessions; inefficiencies related to production and product launches that are greater than anticipated; changes in technology and technological risks; increased fuel costs; work stoppages and strikes at our facilities and that of our customers; the presence of downturns in customer markets where the Company's goods and services are sold; financial and business downturns of our customers or vendors; and other factors, uncertainties, challenges, and risks detailed in Noble's public filings with the Securities and Exchange Commission. Noble does not intend or undertake any obligation to update any forward-looking statements. For more information see http://www.nobleintl.com/ .