QUINCY, Mass., Oct. 24, 2008 (GLOBE NEWSWIRE) -- Altra Holdings, Inc. (Nasdaq:AIMC), a leading global supplier of clutch brakes, couplings, gearing, belted drives and power transmission components, today announced the appointment of Glenn E. Deegan as Vice President, General Counsel and Secretary, a new position for the company reporting directly to Altra's Chief Executive Officer. Mr. Deegan will be responsible for all corporate legal matters at Altra and its subsidiaries, including mergers and acquisitions, compliance with securities regulations and corporate governance matters.
"Glenn is ideally suited to fill our General Counsel position based on his combined legal, business and public company experience," said Michael L. Hurt, Altra's Chairman and Chief Executive Officer. "As we progress to our next phase of growth, Glenn's strong capabilities and background are welcome additions to the Altra Management Team."
Mr. Deegan brings to Altra more than 15 years of experience in managing complex legal and business matters including: securities and regulatory issues; corporate finance and transactions; intellectual property; litigation and employment issues. Most recently, Mr. Deegan served as Vice President and General Counsel for Averion International Corp., a publicly traded provider of global clinical research services, where he was responsible for all company legal matters. Previously, he served as Vice President and General Counsel at MacroChem Corporation, a publicly traded biopharmaceutical company, and as assistant general counsel at Summit Autonomous (formerly Summit Technology, Inc.), a publicly traded manufacturer of ophthalmic laser systems. Prior to that, he engaged in the private practice of law where he represented clients on a broad range of litigation matters.
Mr. Deegan received his J.D., cum laude, from Boston College Law School and his bachelor's of science in engineering/physics/systems, magna cum laude, from Providence College. He is a member of the American and Rhode Island Bar Associations and the Association of Corporate Counsel.
About Altra
Altra Holdings, Inc., through its wholly-owned subsidiary Altra Industrial Motion, Inc., is a leading multinational designer, producer and marketer of a wide range of mechanical power transmission products. The company brings together strong brands covering over 40 product lines, with production facilities in eight countries and sales coverage in over 70 countries. Our leading brands include Boston Gear, Warner Electric, TB Wood's, Formsprag Clutch, Ameridrives Couplings, Industrial Clutch, Kilian Manufacturing, Marland Clutch, Nuttall Gear, Stieber Clutch, Wichita Clutch, Twiflex Limited, Bibby Transmissions, Matrix International, Inertia Dynamics, Huco Dynatork and Warner Linear.
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Forward Looking Statements
All statements, other than statements of historical fact included in this release are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain, and investors must recognize that events could differ significantly from our expectations. In addition to the risks and uncertainties noted in this release, there are certain factors that could cause actual results to differ materially from those anticipated by some of the statements made, including risks associated with transitioning the chief executive position, and other risks, uncertainties and other factors described in the company's Form 10-Q, Form 10-K and in the company's other filings with the U.S. Securities and Exchange Commission or in materials incorporated therein by reference. Altra Holdings, Inc. is under no obligation to, and expressly disclaims any obligation to, update or alter its forward looking statements, whether as a result of new information, future events or otherwise.
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