MUSCATINE, Iowa--(BUSINESS WIRE)--Nov. 21, 2002--HON INDUSTRIES
Inc. (NYSE:HNI) announced the election of Ronald V. Waters, III, as
its newest director to its Board. Mr. Waters, who will serve on the
Board's Audit Committee, is the Senior Vice President and Chief
Financial Officer of William Wrigley Jr. Co.
"HON INDUSTRIES is fortunate to have an outstanding Board of
Directors. Ron brings global corporate vision in addition to knowledge
of overseas product expansion, global sourcing, supply chain and
logistics. We look forward to the expertise Ron brings to ensure that
HON INDUSTRIES remains a leader in financial strength and long-term
value creation for all stakeholders," said Jack D. Michaels, HON
INDUSTRIES' Chairman, President and CEO.
An expert in strategic planning and finance, with experience in
global markets, Waters assisted two major U.S. corporations, Gillette
Company and William Wrigley Jr. Co., in the launch and distribution of
new products, in the U.S. and overseas. Waters has a B.A. from Trinity
College and a masters' degree in accounting from the Stern School of
Business at New York University. He began his career with KPMG Peat
Marwick.
HON INDUSTRIES Inc. provides products and solutions for the home
and workplace environments. The company's strong brands, including
HON, Allsteel, Gunlocke, Heatilator and Heat-n-Glo, have leading
positions in their markets. HON INDUSTRIES is committed to maintaining
its long-standing corporate values of financial soundness and
integrity and a culture of service and responsiveness. By doing so,
the company was recognized as one of the 400 Best Big Companies in
America by Forbes' Magazine in 2002, and one of America's Most Admired
Companies by Fortune Magazine in 2002. HON INDUSTRIES' common stock is
traded on the New York Stock Exchange under the symbol HNI.
Forward-looking Statements
Statements in this news release that are not strictly historical,
including statements as to plans, objectives, and future financial
performance, are "forward-looking" statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve known and
unknown risks, which may cause the Company's actual results in the
future to differ materially from expected results, particularly those
with respect to expected earnings for the remainder of the fiscal
year. These risks are described in the Company's annual and quarterly
reports filed with the Securities and Exchange Commission on Forms
10-K and 10-Q.
--30--hf/ms*
| CONTACT: |
HON INDUSTRIES Inc., Muscatine |
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Jerald K. Dittmer, 563/264-7400 |
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or |
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Investor Relations: |
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Melinda C. Ellsworth, 563/264-7406 |
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