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Harold E. Layman Named President <br>and Chief Executive Officer of Blount <br>International, Inc.
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01/16/2005
Montgomery, AL, March 20, 2001 - Blount International, Inc. (NYSE: BLT) ("Blount") today announced the promotion of Harold E. Layman to the position of President and Chief Executive Officer.
Previously, Mr. Layman served as President and Chief Operating Office since February 2000. Mr. Layman joined Blount, Inc. in January of 1993 holding senior positions in finance and administration.
In making this announcement, John M. Panettiere, Chairman and Chief Executive Officer, stated, "We are extremely pleased to announce this well deserved promotion of Mr. Layman. With more than eight years of service to the Corporation in increasingly higher levels of responsibility, he is very well prepared for his new responsibilities. This promotion is another step in our previously announced senior management succession planning."
John M. Panettiere, previously Chairman and Chief Executive Officer, will continue as Chairman of the Board and Chairman of the Executive Committee through the Company?s Annual Stockholders? Meeting in April, 2001, and thereafter until his successor is named. He will then serve as Chairman Emeritus until his retirement date of June 30, 2001. Mr. Panettiere will remain as a consultant to the Company after his retirement.
Mr. Panettiere has been with Blount International, Inc. since May 1992, and he directed the reshaping of Blount from primarily a construction company into a world class, diversified manufacturing and distribution company doing business in more than 100 countries worldwide. Each of the Company?s three business segments became market leaders in their industries during Mr. Panettiere?s tenure.
Headquartered in Montgomery, Alabama, Blount International, Inc. is a diversified international company operating in three principal business segments: Outdoor Products; Sporting Equipment; and Industrial and Power Equipment. Blount International, Inc. sells its products in more than 100 countries around the world. For more information about Blount International, Inc., please visit our website at http://www.blount.com.
