DALLAS, May 18 /PRNewswire/ -- Global Industrial Technologies, Inc.
(NYSE: GIX) today stated that it will shortly file an amended Form 10-Q that
will correct a statement in the 10-Q filed with the Securities and Exchange
Commission on May 17, 1999.
Consistent with Global's most recent amendment to its Schedule 14D-9,
filed May 11, 1999, the amended 10-Q will state that as of May 18, 1999, the
Company's Board of Directors is in discussions with respect to a possible
transaction that could involve a merger of the Company. Global states that
its 10-Q filed May 17, 1999, inadvertently contained a contradictory and
outdated statement concerning such discussions.
Global is a major manufacturer of technologically advanced industrial
products that support high-growth markets around the world. Products include
forged flanges; undercarriage parts for track-mounted vehicles; modular cells
for refining nonferrous metals; premium refractories for lining heat-
containing industrial vessels such as steel furnaces; raw materials used to
make refractory products; processing and recycling equipment.
CERTAIN INFORMATION CONCERNING PARTICIPANTS
Global Industrial Technologies, Inc. (the "Company") and certain other
persons named below may be deemed to be participants in the solicitations of
proxies against the proposals of WHX Corporation. The participants in this
solicitation may include (i) the directors of the Company: David H. Blake,
Richard W. Vieser, Samuel B. Casey, Jr., Rawles Fulgham and Graham L. Adelman
and (ii) the following executive officers and employees of the Company:
Rawles Fulgham (Chairman and Chief Executive Officer), Graham L. Adelman
(President and Chief Operating Officer), Alfred L. Williams (Senior Vice
President and Chief Financial Officer), Donna Reeves (Vice President and
Controller), Jeanette H. Quay (Vice President, General Counsel and Secretary),
James Alleman (Vice President-Human Resources), and George Pasley (Vice
President-Communications), Juan M. Bravo (Vice President). As of the date of
this communication, none of the foregoing participants individually
beneficially own in excess of .1% of the Company's common stock or in the
aggregate in excess of 2% of the Company's common stock.
SOURCE Global Industrial Technologies, Inc.
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http://www.prnewswire.com/gix
Company News On-Call:
http://www.prnewswire.com/comp/422169.html or fax,
800-758-5804, ext. 422169
CONTACT:
George Pasley, V. P. Communications of Global
Industrial Technologies, Inc., 214-953-4510
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