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SCHEDULE 14A
(RULE 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934
FILED BY REGISTRANT [X] FILED BY A PARTY OTHER THAN THE REGISTRANT [ ]
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Check the appropriate box:
[ ] Preliminary proxy statement
[ ] Definitive proxy statement
[ ] Confidential, for use of the Commission only (as permitted by Rule
14a-6(e)(2))
[x] Definitive additional materials
[ ] Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12
BRUNSWICK TECHNOLOGIES, INC.
(Name of Registrant as Specified in Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
PAYMENT OF FILING FEE (CHECK THE APPROPRIATE BOX):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-(6)(i)(1) and 0-11.
1) Title of each class of securities to which transaction applies:
2) Aggregate number of securities to which transaction applies:
3) Per unit price or other underlying value of transaction computed pursuant
to Exchange Act Rule 0-11:(1)
4) Proposed maximum aggregate value of transaction:
5) Total fee paid:
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the form or schedule and the date of its filing.
1) Amount previously paid:
2) Form, schedule or registration statement no.:
3) Filing party:
4) Date filed:
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(1)Set forth the amount on which the filing fee is calculated and state how it
was determined.
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BRUNSWICK TECHNOLOGIES INC. 43 Bibber Parkway Tel: 207-729-7792
Brunswick, Maine, USA Fax: 207-729-7877
[LOGO]
CONTACTS:
Phil Harmon Citigate Sard Verbinnen
Brunswick Technologies, Inc. David Reno/Andrew Cole
(207) 729-7792 (212) 687-8080
BRUNSWICK TECHNOLOGIES SAYS
INSTITUTIONAL SHAREHOLDER SERVICES (ISS)
RECOMMENDS INVESTORS SUPPORT MANAGEMENT PROPOSALS
AT ANNUAL MEETING
ISS RECOMMENDS ELECTION OF BTI DIRECTORS AND
APPROVAL OF PLAN TO AMEND 1997 EQUITY INCENTIVE PLAN;
RECOMMENDS INVESTORS DISCARD VETROTEX "BLUE" PROXY CARD
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BRUNSWICK, ME, MAY 12, 2000 - Brunswick Technologies, Inc. (Nasdaq: BTIC)
("BTI"), a leading manufacturer and innovative developer of composite
reinforcements, said today that Institutional Shareholders Services ("ISS"), the
world's leading provider of proxy advisory services, has recommended to
investors that they support BTI management's proposals contained in management's
proxy for the Company's annual meeting scheduled for May 16, 2000.
ISS has recommended for the election of BTI's directors, the approval of a
plan to amend the 1997 Equity Incentive Plan and ratification of
PricewaterhouseCoopers LLP as the Company's independent auditors. ISS
recommended that investors execute their votes on management's white proxy card.
ISS further recommended that its clients discard the blue proxy card
distributed by Vetrotex CertainTeed Corporation, a wholly-owned subsidiary of
Compagnie de Saint Gobain, which is currently engaged in a unsolicited, hostile
takeover attempt of BTI.
-more-
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"We are pleased that ISS, a reputable and independent proxy advisor,
supports our proposals," said Martin S. Grimnes, Chairman and Chief Executive
Officer of BTI. "We continue to believe that Saint-Gobain's opposition to our
proposals is a thinly-veiled and self-serving effort to force their inadequate,
unsolicited offer on BTI shareholders."
Grimnes concluded, "With the assistance of our financial advisors, McDonald
Investments, BTI's Board of Directors is continuing to aggressively explore
strategic alternatives to enhance value for all of our shareholders. We will
promptly report any developments resulting from these efforts."
Examples of products manufactured with BTI engineered reinforcements
include: ballistic armor, boats, snowboards, railcars, truck panels, wind
blades, airframe structures, automotive parts, marine pilings, bridges, and
offshore oil and gas production equipment. BTI has manufacturing facilities in
the Maine, Texas and the UK.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Matters discussed in this news release, including any discussion of or impact,
expressed or implied, on the Company's anticipated revenue growth, operating
results and future earnings per share contain forward-looking statements
(identified by the words "expect", "estimate", "project", "plans", "believe",
and similar expressions) that involve known and unknown risks and uncertainties.
For these statements the company claims the protection of the safe harbor of the
private Securities Litigation Reform Act of 1995. The company's results may
differ significantly from the results indicated by such forward-looking
statements. The Company's future results are dependent upon general economic
conditions, the availability of supplies of fiberglass, the ability to expand
new and existing markets, competition from competing product lines from both
fiberglass and non-fiberglass suppliers, the ability to manage growth in
inventory, the stability of its customers' capital spending plans and the
ability of the company to obtain necessary capital from time to time. These and
other risks are detailed from time to time in the Company's SEC reports,
including Form 10K for the year ended December 31, 1999.
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