Winthrop Resigns From Sheldahl, Inc. Board of Directors
11 September 2000
Winthrop Resigns From Sheldahl, Inc. Board of Directors
NORTHFIELD, Minn., Sept. 11 Sheldahl, Inc. announced today the resignation of Beekman
Winthrop as a member of the Board of Directors of the Company.
Sheldahl is a leading producer of high-density substrates, high-quality
flexible printed circuitry, and flexible laminates primarily for sale to the
automotive electronics and data communications markets. The Company, which is
headquartered in Northfield, Minn., has operations in Northfield; Longmont,
Colo.; South Dakota; Toronto, Ontario, Canada; and Chihuahua, Chih., Mexico.
Its sales offices are located in Detroit, Mich.; Hong Kong, China; Singapore;
and Mainz, Germany. Currently, Sheldahl employs approximately 800 people.
Sheldahl's common stock trades on the Nasdaq National Market tier of the
Nasdaq Stock Market under the symbol: SHEL. In its fiscal year ended
August 27, 1999, Sheldahl reported revenues of $122.1 million. Sheldahl news
and information can be found on the World Wide Web at http://www.sheldahl.com
The discussion above contains statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements by their nature
involve substantial risks and uncertainties as described by Sheldahl's
periodic filings. Actual results may differ materially depending on a variety
of factors, including but not limited to the following: the achievement of
Sheldahl's projected operating results, the ability of Sheldahl to
successfully obtain waivers from its lenders for any defaults on its debt
covenants, the achievement of efficient volume production and related sales
revenue results at Longmont, the ability of Sheldahl to identify and
successfully pursue other business opportunities, and Sheldahl not entering
into an agreement with respect to a transaction or any such transaction not
being consummated. Additional information with respect to the risks and
uncertainties faced by Sheldahl may be found in, and the prior discussion is
qualified in its entirety by, the Risk Factors contained in the Company's
filings with the Securities and Exchange Commission, including Sheldahl's
Annual Report, Form 10-K for the fiscal year ended August 27, 1999, Forms 10-Q
for the quarters ended November 26, 1999; February 25, 2000, May 26, 2000 and
other SEC filings. Sheldahl does not undertake any obligation to update any
such factors or to publicly announce developments or events relating to the
matters described herein.