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FOR: TRANSPRO, INC.
CONTACT: Timothy E. Coyne
Vice President - Finance
(203) 401-6452
FOR IMMEDIATE RELEASE
Morgen-Walke Associates
Investor Relations:
Gordon McCoun, Eric Boyriven
Media Contact: Jennifer Kirksey
(212) 850-5600
TRANSPRO, INC. ANNOUNCES SEARCH FOR SUCCESSOR TO PRESIDENT AND CEO
NEW HAVEN, CONNECTICUT, September 25, 2000 -- TransPro, Inc. (NYSE:TPR)
announced that it has begun a search for a successor to Henry P. McHale, age 62,
who will be resigning from his positions as President and Chief Executive
Officer and a Director of the Company effective December 31, 2000 to pursue
other opportunities. Mr. McHale joined the Company in 1992 as President and
Chief Executive Officer of GO/DAN Industries and has been in his current
capacities since 1995.
A committee has been formed by TransPro's Board of Directors to immediately
commence the search for Mr. McHale's successor. Mr. McHale has committed to
continue in his current position until year-end to allow time to choose his
successor and effect an orderly transition of duties.
Barry R. Banducci, Chairman of the Board of TransPro, commented: "We would like
to thank Hank for his substantial contribution to TransPro in establishing it as
a stand-alone publicly-traded company, and forging the strategic vision and
platform for us to pursue the opportunities that we see in the automotive
Aftermarket. By mutual agreement between Hank and the Company, we have begun a
search for an accomplished executive with a strong background in the Aftermarket
and OEM automotive fields to lead TransPro forward as CEO."
TransPro, Inc. is a manufacturer and supplier of heat transfer
components and systems for a variety of Aftermarket and OEM automotive, truck
and industrial applications.
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TRANSPRO ANNOUNCES SEARCH FOR SUCCESSOR TO CEO PAGE 2
FORWARD-LOOKING STATEMENTS
Statements included in this news release which are not historical in
nature are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. The
Company's Annual Report on Form 10-K contains certain detailed factors that
could cause the Company's actual results to materially differ from
forward-looking statements made by the Company. In particular, statements
relating to the future financial performance of the Company are subject to
business conditions and growth in the general economy and automotive and truck
business, the impact of competitive products and pricing, changes in customer
product mix, failure to obtain new customers or retain old customers or changes
in the financial stability of customers, changes in the cost of raw materials,
components or finished products and changes in interest rates.
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