Pomona, Calif., August 25, 2000 (PRIMEZONE) -- Keystone Automotive Industries, Inc. (Nasdaq:KEYS) today announced that Ronald G. Foster (59) and A. Jason Adair (30) were elected as new members of the board of directors at the company's annual meeting held August 23, 2000.
The company also announced that Mr. Foster was elected chairman of the board of directors, succeeding Ronald G. Brown (63) who resigned his position but remains on the board.
Mr. Foster, a 25 year veteran of Tenneco, was senior vice president of Tenneco Automotive and general manager of Monroe Auto Equipment Company, the world's largest manufacturer of ride control systems, when he retired in 1993. Since then, he has been a consultant specializing in acquisitions, joint ventures, turnaround situations and quality systems.
Mr. Adair (30), has been president of Copart, Inc. (Nasdaq:CPRT) since November 1966. Earlier, Mr. Adair served as Copart's executive vice president and vice president of sales and operations.
Copart and Keystone recently announce a joint Internet strategy via www.copart.com, through which Copart will identify vehicles that have been, or will be sold by Copart and then show all parts available from Keystone to repair such vehicles. The fully integrated Internet system facilitates the ordering, payment and delivery of parts for the 100,000+ buyers that attend Copart's auctions annually, in person and over the Web. A buyer utilizing www.copart.com can look at vehicles on-line to inspect damage and enter bids as well as order parts through Keystone with just a click of a mouse.
Additionally, the company announced the appointment of Currey Hall (34) as a vice president of Keystone Automotive Industries. Mr. Hall will remain in his current position as president and chief operating officer of the Keystone operating unit, Fenders and More.
Charles Hogarty, president and chief executive officer of Keystone, said, "We welcome Jason and Ronald to our board and look forward to the valuable contribution we know they can make, particularly in this challenging period for Keystone. We also are pleased that Currey Hall is now a part of the Keystone corporate management team and welcome the value he will add.
With distribution throughout most of the United States, Keystone, based in Pomona, California, is the nation's leading supplier of replacement collision repair products for import and domestic vehicles. Product lines include new replacement parts in sheet metal, glass, lighting and radiators, as well as a complete offering of refinish products. In addition, the Company remanufactures OEM replacement bumpers and wheels at several facilities nationwide, offering a lower-cost, environmentally responsible alternative to a comparable new part.
Founded in 1947, Keystone Automotive Industries, Inc. serves more than 25,000 body shop customers from its 118 distribution centers throughout the United States. In addition, the Company operates 30 plastic bumper recycling centers and 9 wheel remanufacturing plants. Keystone Automotive Industries, Inc. became a publicly traded company in 1996, (Nasdaq:KEYS).