CLEVELAND, Feb. 26 /PRNewswire-FirstCall/ -- In an article in this
morning's The Plain Dealer, the Cleveland newspaper stated that Hawk Corp
(Amex: HWK) is going private to avoid the new costs of federal regulation
under the Sarbanes-Oxley Act. Hawk announced today that the statement is not
true and that the Company has no plans to go private.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001129/HWKLOGO )
The Company
Hawk Corporation is a leading worldwide supplier of highly engineered
products. Its friction products group is a leading supplier of friction
materials for brakes, clutches and transmissions used in airplanes, trucks,
construction equipment, farm equipment and recreational vehicles. Through its
precision components group, the Company is a leading supplier of powder metal
and metal injected molded components for industrial applications, including
pump, motor and transmission elements, gears, pistons and anti-lock sensor
rings. The Company's performance racing group manufactures clutches and
gearboxes for motorsport applications and performance automotive markets.
Headquartered in Cleveland, Ohio, Hawk has approximately 1,550 employees and
15 manufacturing, research and administrative sites in four countries.
SOURCE Hawk Corporation
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Related links:
http://www.hawkcorp.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20001129/HWKLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Ronald E. Weinberg, Chairman and Chief
Executive Officer, +1-216-861-3553, or Thomas A. Gilbride, Vice
President - Finance, +1-216-861-3553, both of Hawk Corporation
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