SOURCE: Nashua Corporation

Nashua Corporation

March 05, 2009 16:15 ET

Nashua Appoints Board Member

NASHUA, NH--(Marketwire - March 5, 2009) - Nashua Corporation (NASDAQ: NSHA) a manufacturer of specialty paper and label products announced today that its Board of Directors has elected a new member to the Board, effective immediately. The new director is Clinton J. Coleman, Vice President of Newcastle Capital Management, L.P. This addition brings the number of Board members temporarily to eight. Mr. Coleman will serve on the Board's Audit/Finance and Investment Committee and the Leadership and Compensation Committee. One current director, George R. Mrkonic, Jr., has informed Nashua that he will not stand for re-election to the board at the 2009 annual meeting.

Commenting on the changes to the Board of Directors Thomas Brooker, President and Chief Executive Officer, said "We are pleased that Clinton has joined the Board and look forward to working closely with him as we continue to strive to create shareholder value. Clinton's strengths and experience should provide significant value to Nashua Corporation as we move forward. George Mrkonic has been a director since 2000 and our lead director since 2006. He has helped direct the company through difficult times. We will miss George's guidance and leadership as we move forward."

In addition to being a Vice President of Newcastle Capital Management, L.P., Mr. Coleman also serves as the Interim Chief Executive Officer of Bell Industries, Inc. Mr. Coleman is also a director of Pizza Inn, Inc., Bell Industries, Inc., Fox & Hound Restaurant Group and Pinnacle Frame and Accents, Inc. He received a B.A. from Vanderbilt University.

About Nashua

Nashua Corporation manufactures and markets a wide variety of specialty imaging products and services to industrial and commercial customers to meet various print application needs. Nashua's products include thermal coated papers, pressure-sensitive labels, bond, point of sale, ATM and wide format papers, entertainment tickets, and ribbons for use in imaging devices. Additional information about Nashua Corporation can be found at www.nashua.com.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "should" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, Nashua's future capital needs and resources, fluctuations in customer demand, intensity of competition from other vendors, timing and acceptance of new product introductions, delays or difficulties in programs designed to increase sales and profitability, general economic and industry conditions, and other risks set forth in Nashua's filings with the Securities and Exchange Commission, and the information set forth herein should be read in light of such risks. In addition, any forward-looking statements represent Nashua's estimates only as of the date of this press release and should not be relied upon as representing Nashua estimates as of any subsequent date. While Nashua may elect to update forward-looking statements at some point in the future, Nashua specifically disclaims any obligation to do so, even if its estimates change.

Contact Information

  • Contact:
    Tom Brooker/John Patenaude
    Nashua Corporation
    847-318-1797/603-880-2145

    Rich Coyle
    Sard Verbinnen & Co
    212-687-8080