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Holland, MI (January 29, 2001) - Clarion Technologies, Inc. (NASDAQ: CLAR) today announced that its Board of Directors has elected Craig Wierda Chairman of the Board. Mr. Wierda has been a Director of the Company since February 1999 and has more than 16 years' experience in the automotive industry. He replaces Jack D. Rutherford, who has retired after serving as Clarion's Chairman for two years. Mr. Rutherford will continue to serve as a Director of the Company.
Mr. Wierda is the President of Eagle Companies, which operates four automobile dealerships throughout Michigan with total annual sales of more than $100 million. In addition, from 1995 to 1996, Mr. Wierda served as a director of Prince Corporation, a Tier I supplier in the automotive industry that in 1996 was acquired by Johnson Controls, Inc.
Mr. Rutherford commented, "I look forward to my continued involvement with Clarion as a Director. I believe that we at Clarion have made great strides in the past two years, building the foundation for what will be a premier supplier to the consumer goods, automotive and heavy truck industries. Our shared vision at this Company, plus Craig's involvement as a Director for the past two years, will allow for a seamless transition at the Chairman level. I am confident that, with his experience with his own company and as a former Director of Prince Corp. and Clarion, Craig will serve this Company and its shareholders well in his new capacity."
Mr. Wierda said, "Only a person with Jack's experience could in two years lead a company from a few million in sales to over $100 million. We will greatly value his continued guidance as a Director, as we move forward in attaining our goal of $500 million in sales in 2003. Sustaining this sort of momentum will mean capitalizing on new business opportunities and acquiring high-quality companies that strategically fit our business plan."
Clarion Technologies, Inc. operates six manufacturing facilities and a technical design center with a total of approximately 700,000 square feet located in Michigan, Ohio and South Carolina. Clarion's manufacturing operations include 150 injection molding machines ranging in size from 50 to 5000 tons of clamping force. The Company's headquarters are located in Holland, Michigan.
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James Hostetler
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(847) 490-6063
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Nick Thole or Michael Zalewski
Seyferth Spaulding Tennyson Inc.
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Except for historical information, this news release contains certain forward-looking statements that involve unknown risks and uncertainties which may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the statements made. Such risks and uncertainties include, but are not limited to, uncertainties regarding the marketing of its products, the availability of funds for ongoing operations and further development or acquisition activities and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. There is no assurance that the Company will be successful in achieving its goals.
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