SOURCE: Trans-Lux Corporation

Trans-Lux Corporation

October 08, 2013 09:38 ET

Shareholders of Trans-Lux Corporation Elect Two New Directors to Its Board

NEW YORK, NY--(Marketwired - Oct 8, 2013) - At the Annual Meeting of Stockholders of Trans-Lux Corporation (OTCQB: TNLX), held on October 2, 2013 at the Company's offices in Cartersville, Georgia, our shareholders elected two new members to the Board of Directors of the Company. As a result of the election, Messrs. Alan K. Greene and Alberto Shaio have joined the Board of Trans-Lux Corporation. 

Alan K. Greene has previously served as a Partner of Price Waterhouse from 1974 to 1995, acting at various times as Managing Partner for cross border transactions and as National Director of tax services for M&A, and in connection with foreign banks and mutual funds with respect to acquisition and investment strategies. Currently, Mr. Greene serves on the board of directors of Intellicorp, Inc. (since 2001), RAVE, Inc. (since 2005), Enduro Medical Technologies LLC (since 2005), Greene Rees Technologies, LLC (since 1995), and Connecticut Innovations, Inc. (from 2005), serving as its vice chairman. Previously, he was a director of the Connecticut Clean Energy Fund from 2007 until June, 2011, and Metromedia International Group, Inc. from 2007 until February, 2011. Mr. Greene has also held prior board positions at Fortistar Capital, Oswego Hydro, Access Shipping and various other public and private companies through the years. Mr. Greene's experience serving as chairman of various audit committees of many of these organizations and strong aptitude for technologies will enable him to provide valuable contributions to the Board.

Alberto Shaio became the President and CEO of Craftsmen Industries on January 1, 2011. Previously he held various posts with Farrel Corporation (Ansonia CT and Rochdale England) from 1986 until December 31, 2010, including the role of President and CEO since 2003. From 1970 through 1986, Mr. Shaio was General Manager, Vice President or President of various companies such as Pavco, Filmtex (Columbia SA), and the Interamerican Investment Group. He currently serves on the board of directors of New Energy Corporation, Farrel Corporation, Interactive Systems, Polifilm, Filmtex, PAVCO SA, and Harburg, Freudenberg Maschinenbau GmbH (Germany). Additionally, he presently serves on the Board of Advisors of Scorpion Capital. Mr. Shaio's extensive international experience and service to numerous other boards of directors will enable him to provide valuable contributions to the Board.

"We look forward to working with Messrs. Greene and Shaio at the Board level," said Mr. J.M. Allain, President, CEO and Board Member. "We have already witnessed the significance of their respective contributions to the Company and look forward to receiving continued guidance and constructive criticism from these gentlemen," Mr. Allain continued. "Our shareholders will benefit greatly from the addition of Messrs. Greene and Shaio to our Board of Directors."

For more information, visit www.trans-lux.com.

About Trans-Lux
Trans-Lux Corporation (TNLX) is a leading designer and manufacturer of TL Vision digital video displays and TL Energy LED lighting solutions for the financial, sports and entertainment, gaming, education, government, and commercial markets. With a comprehensive offering of LED Large Screen Systems, LCD Flat Panel Displays, Data Walls and scoreboards (marketed under Fair-Play by Trans-Lux), Trans-Lux delivers comprehensive video display solutions for any size venue's indoor and outdoor display needs. TL Energy enables organizations to greatly reduce energy related costs with green lighting solutions. For more information please visit www.Trans-Lux.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The Company may, from time to time, provide estimates as to future performances. These forward-looking statements, including loss of market share through competition, introduction of competing products by others, pressure on prices from competition or purchasers of the Company's products, interest rate and foreign exchange fluctuations, terrorist acts and war.

Contact Information

  • INVESTOR RELATIONS CONTACT:
    Kristin A. Kreuder
    Vice President and General Counsel
    Trans-Lux Corporation
    phone: 203-642-5833
    e-mail: Email Contact