Exhibit 99.1
Contact: Tom Brooker/John Patenaude Rich Coyle
Nashua Corporation Citigate Sard Verbinnen
847-318-1797/603-880-2145 212-687-8080
NASHUA CORPORATION REALIGNS MANAGEMENT
TWO NEW SENIOR MANAGERS NAMED TO LEAD SALES AND OPERATIONS
NASHUA, N.H. - AUGUST 17, 2006 - Nashua Corporation (NASDAQ: NSHA), a
manufacturer of labels and thermal and specialty papers, today announced it has
realigned senior management responsibilities for its marketing and manufacturing
operations. Industry veteran Todd McKeown is joining Nashua as Vice President of
Sales and Marketing, and will be responsible for these activities for the
Company's combined Label and Converted products. Sales and marketing for these
products, which account for approximately 85 percent of Nashua's revenue,
formerly were led by executives in each business unit. Thomas Kubis, formerly
Vice President of Manufacturing for the Company's Label segment, has been named
Vice President of Operations and will be responsible for Nashua's manufacturing
facilities currently located in California, Florida, Nebraska, New Jersey and
Tennessee. Both executives will report directly to Thomas Brooker, Nashua's
President and Chief Executive Officer.
"We are combining our Label and Converted products sales force and
integrating our manufacturing management teams as part of our ongoing strategy
to generate top-line growth and increase productivity," said Brooker. "The
flatter, more streamlined organization structure will better position Nashua to
capture opportunities and respond to changes in our highly competitive industry.
By combining the major parts of our business under the leadership of two highly
experienced executives we will be more effective in developing and executing
strategies."
Brooker stated, "On behalf of the senior management team, I'd like to
welcome Todd to Nashua. He is an experienced executive with a proven track
record in sales and marketing. His substantial industry experience will prove
invaluable as we realign the sales force to better focus on our customers and
their needs."
Brooker continued, "I'd also like to congratulate Tom on his well-deserved
promotion. During his tenure at Nashua, he has demonstrated his leadership
capabilities and has been an integral part of the success we've achieved in
optimizing our manufacturing resources. He is ideally suited to lead our
operations team."
Nashua also announced that Thomas Pagel, Vice President and President of
the Label Products Division, and Margaret Adams, Vice President, President of
the Converted Products Division and Chief Information Officer, have left the
Company. "Both Tom and Margaret made important contributions to Nashua, and we
wish them well in their future endeavors," said Brooker.
2
Kevin Coulouris, Nashua's Vice President of Information Technology, will
continue in that capacity and report to Brooker.
EXECUTIVE BIOGRAPHIES
Prior to joining Nashua, Todd McKeown was Vice President of Sales and
Marketing for Interlake Material Handling from 2005 to 2006 where he was
responsible for all facets of the Interlake brand. He previously served as
Senior Vice President of Sales for Moore Wallace North America, an RR Donnelly &
Sons Company, where he was responsible for Moore Wallace's direct sales force.
During his 18-year tenure at Moore Wallace, McKeown held a variety of sales,
marketing and customer support positions. He also served in a number of sales
and marketing management and executive positions. McKeown received a Bachelor of
Science degree in Economics from Illinois State University in 1989.
Thomas Kubis joined Nashua in 2003 as Vice President of Manufacturing for
the Label Products Division in Tennessee, and was promoted to Vice President of
Manufacturing for the Label segment in 2004. Prior to joining Nashua, Kubis was
involved in label manufacturing and sales at Wallace Computer Services for 16
years, 13 of which were spent in label manufacturing. Mr. Kubis holds a Bachelor
of Science degree in Marketing from the University of Connecticut.
ABOUT NASHUA
Nashua Corporation manufactures and markets a wide variety of specialty
imaging products and services to industrial and commercial customers to meet
various print application needs. The Company's products include thermal coated
papers, pressure-sensitive labels, bond, point of sale, ATM and wide format
papers, entertainment tickets, and ribbons for use in imaging devices.
Additional information about Nashua Corporation can be found at www.nashua.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995. When used in
this press release, the words "will," "estimates," "expects" and similar
expressions are intended to identify such forward-looking statements. Such
forward-looking statements are subject to risks and uncertainties, which could
cause actual results to differ materially from those anticipated. Such risks and
uncertainties include, but are not limited to, the Company's ability to
consummate the transaction, the Company's future capital needs and resources,
fluctuations in customer demand, intensity of competition from other vendors,
timing and acceptance of new product introductions, delays or difficulties in
programs designed to increase sales and profitability, general economic and
industry conditions, the resolution of certain litigation matters, and other
risks set forth in the Company's filings with the Securities and Exchange
Commission, and the information set forth herein should be read in light of such
risks. In addition, any forward-looking statements represent the Company's
estimates only as of the date of this press release and should not be relied
upon as representing the Company's estimates as of any subsequent date. While
the Company may elect to update forward-looking statements at some point in the
future, the Company specifically disclaims any obligation to do so, even if its
estimates change.