HOUSTON, Aug. 2, 2005 (PRIMEZONE) -- Chairman and CEO Raymond Jean, along with other members of the Quanex (NYSE:NX) senior management team, will ring the closing bell to end trading on the New York Stock Exchange today, commemorating Quanex's initial listing on August 2, 1965.
When Quanex officially listed with the exchange 40 years ago today, its first 100 shares traded at $27.25 a share and company sales were $43 million. Since that time, the stock has split 10 times, most recently in 2004, and the current stock price is around $60 per share. 2005 sales are expected to be about $2 billion. "While we are proud of our past accomplishments, our focus is on the future where we feel that our outstanding balance sheet and strong management team will create tremendous opportunities for continued growth," said Ray Jean.
Quanex is an industry-leading manufacturer of engineered materials and components for the vehicular products and building products markets. For further information, visit the Company's website at www.quanex.com.
Statements that use the words "expect," "should," "may," "could," "will," "might," or similar words reflecting future expectations or beliefs are forward-looking statements. The statements above are based on Quanex's current expectations. Actual results or events may differ materially from this release. Factors that could impact future results may include, without limitation, the effect of both domestic and global economic conditions, the impact of competitive products and pricing, and the availability and cost of raw materials. For a more complete discussion of factors that may affect the Company's future performance, please refer to the Company's most recent 10-K filing of December 21, 2004, under the Securities Exchange Act of 1934, in particular the sections titled, "Private Securities Litigation Reform Act" contained therein.
The Quanex Corporation logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1117