Newmarket, ON – AirBoss of America Corp. (TSX: BOS) (the “Company” or “AirBoss”), a diversified manufacturer of rubber compound products and personal protective equipment, including to the U.S. defense and health care markets, today announced the appointment of Stephen M. Ryan, a highly regarded legal advisor based in Washington D.C., to its Board of Directors effective November 12, 2020.
“Steve Ryan further enhances AirBoss’ expertise and insight in its work with government agencies, particularly in our growing presence in the U.S. marketplace. AirBoss will be able to benefit from Steve’s insights gained from his work and relationships resulting from his representations of numerous well-known multinational corporations in their interactions with various government agencies over the past four decades,” said Mr. Gren Schoch, Chairman and CEO of AirBoss. “His legal expertise helping private sector companies in highly regulated industries navigate government contracts and government ethics will be an important addition to our Board, notably as we continue to ramp up supply of our personal protective equipment (PPE) to various government agencies globally.”
From 2007 through his retirement next month, Mr. Ryan led the Government Strategies practice group at the Washington, DC office of McDermott Will & Emery LLP, a large international law firm. Previously, he served as general counsel to the U.S. Senate Committee on Homeland and Governmental Affairs (GAC) under its Chairman, Senator John Glenn of Ohio; as deputy counsel of the President’s Commission on Organized Crime during the administration of President Ronald Reagan; and, as an Assistant U.S. Attorney in Washington, DC, during which he received a special commendation from the U.S. Attorney General and other U.S. Department of Justice awards. Mr. Ryan also served abroad as an advisor to the countries of Latvia, Lithuania, and Poland after they obtained independence from the former Soviet Union, and he helped train chief judges in Moscow. Mr. Ryan has also been as an adjunct professor at Georgetown University Law Center for over a decade and is the co-author of a book on government procurement ethics.
Mr. Ryan graduated from Cornell University and the University of Notre Dame Law School with honors. As part of his deep commitment to pro bono activity, Steve is on the Global Board of Operation HOPE, a primarily African-American financial literacy group. In addition, Steve serves on the Board of the Shakespeare Theatre Company in Washington, D.C., and also serves as Chair of the Theatre’s selection committee on new trustees.
AirBoss of America Corp.
AirBoss of America Corp. is a group of complementary businesses supplying custom compounded rubber, survivability solutions and anti-vibration components to a diverse group of customers globally. AirBoss Rubber Solutions is a top-tier North American custom rubber compounder with 450 million turn pounds of annual capacity. AirBoss Defense Group manufactures and supplies a growing array of Chemical, Biological, Radioactive, Nuclear and Explosive (“CBRN-E”) protective solutions and is a leading provider of personal protective equipment to governments, militaries and frontline healthcare workers both in the U.S. and internationally. AirBoss Engineered Products is a supplier of innovative anti-vibration solutions to the North American automotive market. The Company’s shares trade on the TSX under the symbol BOS. Visit www.airbossofamerica.com or www.adg.com for more information.
AirBoss Forward-Looking Information Disclaimer
Certain statements contained or incorporated by reference herein, including those that express management’s expectations or estimates of future developments or AirBoss’ future performance, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and can generally be identified by words such as “will”, “may”, “could” “expects”, “believes”, “anticipates”, “forecasts”, “plans”, “intends” or similar expressions. These statements are not historical facts but instead represent management’s expectations, estimates and projections regarding future events and performance.
Statements containing forward-looking information are necessarily based upon a number of opinions, estimates and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. AirBoss cautions that such forward-looking information involves known and unknown contingencies, uncertainties and other risks that may cause AirBoss’ actual financial results, performance or achievements to be materially different from its estimated future results, performance or achievements expressed or implied by the forward-looking information. Numerous factors could cause actual results to differ materially from those in the forward-looking information, including without limitation: impact of general economic conditions; dependence on key customers; cyclical trends in the tire and automotive, construction, mining and retail industries; sufficient availability of raw materials at economical costs; weather conditions affecting raw materials, production and sales; AirBoss’ ability to maintain existing customers or develop new customers in light of increased competition; AirBoss’ ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof; changes in accounting policies and methods, including uncertainties associated with critical accounting assumptions and estimates; changes in the value of the Canadian dollar relative to the US dollar; changes in tax laws and potential litigation; ability to obtain financing on acceptable terms; environmental damage and non-compliance with environmental laws and regulations; impact of global health situations; potential product liability and warranty claims and equipment malfunction. COVID-19 could also negatively impact the Company’s operations and financial results in future periods. There is increased uncertainty associated with future operating assumptions and expectations as compared to prior periods. As such, it is not possible to estimate the impacts COVID-19 will have on the Company’s financial position or results of operations in future periods. While the direct impacts of COVID-19 are not determinable at this time, the Company has undrawn credit facility as at September 30, 2020 that can provide financing up to $60,000. This list is not exhaustive of the factors that may affect any of AirBoss’ forward-looking information.
All of the forward-looking information in this press release is expressly qualified by these cautionary statements. Investors are cautioned not to put undue reliance on forward-looking information. All subsequent written and oral forward-looking information attributable to AirBoss or persons acting on its behalf are expressly qualified in their entirety by this notice. Forward-looking information contained herein is made as of the date of this press release and, whether as a result of new information, future events or otherwise, AirBoss disclaims any intent or obligation to update publicly this forward-looking information except as required by applicable laws. Risks and uncertainties about AirBoss’ business are more fully discussed under the heading “Risk Factors” in our most recent Annual Information Form and are otherwise disclosed in our filings with securities regulatory authorities which are available on SEDAR at www.sedar.com.