WASHINGTON, N.C., Aug. 11, 2010 (GLOBE NEWSWIRE) -- Flanders Corporation (OTCQX:FLDR), a leading air filtration products manufacturer, announced today it had appointed Grant Thornton LLP as its independent auditors. Grant Thornton replaces Pender Newkirk & Company, LLP, and will be engaged to issue a report on Flanders' financial statements for fiscal 2010.
The change, which was approved by Flanders' Audit Committee, was not the result of any disagreement between the company and Pender Newkirk & Company on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.
"Changing auditors is not a decision we have taken lightly. Pender Newkirk have been our auditors for some time and we have had a very positive relationship with them," said John Oakley, Flanders' President and CFO. "Given the recent move of our headquarters to North Carolina, we felt that this move was appropriate. While we are looking forward to working with the professionals at Grant Thornton, we thank the professionals of Pender Newkirk for their efforts on behalf of Flanders."
Flanders develops, manufactures and markets air filters and air filtration products for use in many industries, including residential and commercial heating, ventilation and air conditioning systems, semiconductor manufacturing, ultra-pure materials, biotechnology, pharmaceuticals, synthetics, nuclear power, nuclear materials processing and space programs. For further information visit http://www.flanderscorp.com.
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Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements made in this press release other than statements of historical fact, are forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, among other things: statements and assumptions relating to future growth, as well as management's short-term and long-term performance goals; statements regarding anticipated order patterns from our customers or the anticipated economic conditions of the industries and markets that we serve; statements related to the performance of the U.S. and other economies generally; statements relating to the anticipated effects on results of operations or financial condition from recent and expected developments or events; statements relating to the Flanders' business and growth strategies; statements regarding the future effects on our operations and securities due to the new board members and any other statements or assumptions that are not historical facts. Flanders believes that its expectations are based on reasonable assumptions. However, these forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause Flanders' actual results, performance or achievements, or industry results, to differ materially from the Flanders' expectations of future results, performance or achievements expressed or implied by these forward-looking statements. In addition, the Flanders' past results of operations do not necessarily indicate its future results. These and other uncertainties are discussed in the "Risk Factors'' section of the Company's 2009 Form 10-K. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date of this press release. Except as otherwise required by applicable laws, Flanders undertakes no obligation to publicly update or revise any forward-looking statements or the risk factors described in this press release, including projected sales and profit levels for any business segment in any given quarter, whether as a result of new information, future events, changed circumstances or any other reason after the date of this press release.