Simplification Initiative Optimizes Company’s Organizational
Structure to Drive Top-line Growth
BURLINGTON, Mass.--(BUSINESS WIRE)--Jan. 17, 2017--
CIRCOR International, Inc. (NYSE: CIR) today announced the availability
of certain historical segment information reflecting its previously
announced organizational realignment beginning in the fourth quarter of
2016. The new “Energy” segment, including the recent acquisition of
Critical Flow Solutions, will primarily serve the oil & gas market. The
second segment, “Advanced Flow Solutions,” includes the historical
Aerospace & Defense businesses plus the businesses that serve the power
and process and industrial end markets. These businesses were
collectively referred to as the Control Valves product line in CIRCOR’s
legacy Energy Group. To facilitate comparability, CIRCOR has provided
this historical segment information to reflect the two realigned
reportable segments for each of the prior quarterly reporting periods
from the first quarter of 2014 through the third quarter of 2016 in a
Form 8-K furnished with the Securities and Exchange Commission on
January 17, 2017. This information can be accessed under the “SEC
Filings” section in the “Investors” portion of CIRCOR’s website.
Safe Harbor Statement
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Reliance
should not be placed on forward-looking statements because they involve
unknown risks, uncertainties and other factors, which are, in some
cases, beyond the control of CIRCOR. Any statements in this press
release that are not statements of historical fact are forward-looking
statements. Actual events, performance or results could differ
materially from the anticipated events, performance or results expressed
or implied by such forward-looking statements. BEFORE MAKING ANY
INVESTMENT DECISIONS REGARDING OUR COMPANY, WE STRONGLY ADVISE YOU TO
READ THE SECTION ENTITLED "RISK FACTORS" IN OUR MOST RECENT ANNUAL
REPORT ON FORM 10-K AND SUBSEQUENT REPORTS ON FORMS 10-Q, WHICH CAN BE
ACCESSED UNDER THE "INVESTORS" LINK OF OUR WEBSITE AT WWW.CIRCOR.COM.
We undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
About CIRCOR International, Inc.
CIRCOR International, Inc. designs, manufactures and markets flow
control solutions and other highly engineered products and sub-systems
for markets including oil & gas, power generation, industrial and
aerospace & defense. CIRCOR has a diversified product portfolio with
recognized, market-leading brands that fulfill its customers’ unique
application needs. The Company’s strategy is to grow organically and
through complementary acquisitions; simplify CIRCOR’s operations;
achieve world class operational excellence; and attract and retain top
industry talent. For more information, visit the Company’s investor
relations website at http://investors.circor.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170117005737/en/
Source: CIRCOR International, Inc.
CIRCOR International, Inc.
Rajeev Bhalla, 781-270-1210
Executive
Vice President and Chief Financial Officer
