Park-Ohio Holdings Corp. (NASDAQ:PKOH) today announced that its Supply
Technologies (ST) business has acquired the Apollo Aerospace Group
("Apollo") headquartered in West Midlands, England, with operating
locations in England, France, Poland, and India. Apollo is a supply
chain management services company providing Class C production
components and supply chain solutions to aerospace customers worldwide.
Edward F. Crawford, Chairman and Chief Executive Officer, stated,
"Apollo is a dynamic business based in the euro zone with significant
management experience in the aerospace industry. Our Supply Technology
business will benefit from Apollo's strong customer and supplier
relationships. Our ability to provide customized programs for
replenishment should be an attractive proposition to aerospace customers
around the world."
ParkOhio is a leading provider of supply management services and a
manufacturer of highly-engineered products. Headquartered in Cleveland,
Ohio, the Company operates 40 manufacturing sites and 52 supply chain
logistics facilities.
This news release contains forward-looking statements, including
statements regarding future performance of the Company that are subject
to certain risks, uncertainties and assumptions. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from
those anticipated, estimated or projected.
These forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance and achievements, or industry results, to be materially
different from any future results, performance or achievements expressed
or implied by such forward-looking statements. These factors that could
cause actual results to differ materially from expectations include, but
are not limited to the following: our substantial indebtedness; the
uncertainty of the global economic environment; general business
conditions and competitive factors, including pricing pressures and
product innovation; demand for our products and services; raw material
availability and pricing; fluctuations in energy costs; component part
availability and pricing; changes in our relationships with customers
and suppliers; the financial condition of our customers, including the
impact of any bankruptcies; our ability to successfully integrate recent
and future acquisitions into existing operations; the amounts and
timing, if any, of purchases of our common stock; changes in general
domestic economic conditions such as inflation rates, interest rates,
tax rates, unemployment rates, higher labor and healthcare costs,
recessions and changing government policies, laws and regulations,
including the uncertainties related to the current global financial
crises; adverse impacts to us, our suppliers and customers from acts of
terrorism or hostilities; our ability to meet various covenants,
including financial covenants, contained in the agreements governing our
indebtedness; disruptions, uncertainties or volatility in the credit
markets that may limit our access to capital; potential disruption due
to a partial or complete reconfiguration of the European Union;
increasingly stringent domestic and foreign governmental regulations,
including those affecting the environment; inherent uncertainties
involved in assessing our potential liability for environmental
remediation-related activities; the outcome of pending and future
litigation and other claims and disputes with customers; the outcome of
the investigation being conducted by the special committee of our Board
of Directors; our dependence on the automotive and heavy-duty truck
industries, which are highly cyclical; the dependence of the automotive
industry on consumer spending, which could be lower due to the effects
of the recent financial crises; our ability to negotiate contracts with
labor unions; our dependence on key management; our dependence on
information systems; our ability to continue to pay cash dividends; and
the other factors we describe under the "Item 1A. Risk Factors" included
in the Company's annual report on Form 10-K for the year ended
December 31, 2013. Any forward-looking statement speaks only as of the
date on which such statement is made, and we undertake no obligation to
update any forward-looking statement, whether as a result of new
information, future events or otherwise, except as required by law. In
light of these and other uncertainties, the inclusion of a
forward-looking statement herein should not be regarded as a
representation by us that our plans and objectives will be achieved. The
Company assumes no obligation to update the information in this release.
Park-Ohio Holdings Corp.
Edward F. Crawford, 440-947-2000