KOKOMO, Ind., June 2, 2008 (PRIME NEWSWIRE) -- Haynes International, Inc. (Nasdaq:HAYN) today announced the expansion of its relationship with Helen Wang and her affiliated companies in Hong Kong and China for sales of Haynes products throughout Asia. Haynes and Ms. Wang have a rich history of cooperation and Ms. Wang has been an independent reseller of Haynes' products in China for the past 5 years. Under the terms of the new long-term Consulting Agreement, which became effective on June 1, Haynes' sales and marketing presence in Asia will be greatly expanded. Ms. Wang's sales force will be integrated into the Haynes operations in China expanding Haynes' direct sales organization by eight people, which Haynes believes should lead to a more effective organization. In addition to overseeing this expanded organization, Ms. Wang will promote Haynes' products and services to its customers in select markets in Asia, including China, Taiwan, South Korea, Singapore, Thailand, Laos, Malaysia, Vietnam, Indonesia, Cambodia, Philippines, Australia, and New Zealand.
Francis Petro, President of Haynes, said, "This consulting arrangement is one component of our continuing aggressive campaign to grow our market presence in China and the rest of Asia. With significant customer contacts throughout the region, Ms. Wang has an impressive track record on which we will build our presence throughout Asia and to expand our own internal organization."
"We are very pleased to expand our relationship with Haynes, especially as the market for high-performance alloys expands in Asia", said Ms. Wang. "With Haynes' continued investment in the development of new alloys and the expansion of its production facilities, we are confident that together we can add significant value on a country-by-country basis throughout Asia."
About Haynes International
Haynes International, Inc. is a leading developer, manufacturer and marketer of technologically advanced, high performance alloys, primarily for use in the aerospace and chemical processing industries.
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Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, particularly under the "Outlook" section above. When used in this news release, the words "believes," "anticipates," "expects," "plans" and similar expressions are intended to identify forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, such forward-looking statements are subject to a number of risks and uncertainties, and the Company can provide no assurances that such plans, intentions or expectations will be achieved. Many of these risks are discussed in detail in the Company's filings with the Securities and Exchange Commission, in particular in its Form 10-K for the fiscal year ended September 30, 2007 and its Form 10-Q for the fiscal quarter ended March 31, 2008. You should carefully read these risk factors.
All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. All forward-looking statements speak only to the respective dates on which such statements are made and the Company does not undertake and specifically declines any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
It is not possible to anticipate and list all risks and uncertainties that may affect the future operations or financial performance of the Company; however, they include, but are not limited to, the following:
Commercialization of new production capacity; Any significant decrease in customer demand for our products or in demand for our customers' products; Our dependence on production levels at our Kokomo facility and our ability to make capital improvements at that facility; Rapid increases in the cost of nickel, energy and other raw materials; Our ability to continue to develop new commercially viable applications and products; Our ability to recruit and retain key employees; Our ability to comply, and the costs of compliance, with applicable environmental laws and regulations; and Economic and market risks associated with foreign operations and U.S. and world economic and political conditions.