Exhibit
99.1
September
19,
2006 Steven
F. Nicola
CFO, Secretary & Treasurer
412:442-8262
MATTHEWS
INTERNATIONAL CORPORATION
ANNOUNCES
THE APPOINTMENT OF JOSEPH C. BARTOLACCI
AS
CHIEF EXECUTIVE OFFICER
PITTSBURGH,
PA, September 19, 2006 -- Matthews International Corporation (NASDAQ NMS: MATW)
today announced that Joseph C. Bartolacci has been appointed as the Company’s
Chief Executive Officer effective October 1, 2006. David M. Kelly, Matthews’
current Chief Executive Officer, has announced his plans to retire from
employment with the Company effective February 1, 2007. He will remain as the
Company’s Chairman of the Board of Directors until his term expires in February
2008. The Company will continue to maintain its Office of the Chairman, which
consists of Mr. Kelly, Mr. Bartolacci and Mr. David J. DeCarlo.
In
discussing the transition, Mr. Kelly said: “The Board of Directors and I believe
that Mr. Bartolacci is well qualified for his new role. He has a demonstrated
track record of success with Matthews, has served directly in several of our
key
segments, and understands our businesses and strategies. We have complete
confidence that he has the necessary background and leadership skills to
continue Matthews’ tradition of growth.”
Mr.
Kelly
further stated, “I have been truly blessed to have been a part of this great
organization. I am extremely thankful for the tremendous support that I have
received from our shareholders, customers and, especially, our employees. I
continue to believe our employees are our greatest asset and the success of
Matthews is due to their hard work, dedication and loyalty. I look forward
to
continuing to serve the Company as Chairman of the Board and helping Mr.
Bartolacci toward a successful transition.”
In
discussing his appointment, Mr. Bartolacci said, “It is a privilege for me to
accept this new responsibility. Mr. Kelly has set a high standard of excellence
and I intend to work hard to continue this tradition. I have a great degree
of
confidence in Matthews and our employees and believe we can continue to achieve
the Company’s long-term growth objectives. I congratulate Mr. Kelly on his
outstanding leadership of Matthews and look forward to his continued
support.”
Mr.
Bartolacci joined Matthews in 1997 as General Counsel. In 1999, he became
President of Caggiati, S.p.A., the Company’s wholly-owned subsidiary in Parma,
Italy. In 2000, Mr. Bartolacci also assumed responsibility for Matthews’
European graphics operations. He returned to North America in December 2003
and
became Executive Vice President of Matthews and President of the Company’s
casket operations. In September 2005, Mr. Bartolacci was appointed President
and
Chief Operating Officer of Matthews and he was elected to the Company’s Board of
Directors in November 2005.
Matthews
International Corporation, headquartered in Pittsburgh, Pennsylvania, is a
designer, manufacturer and marketer principally of memorialization products
and
brand solutions. Memorialization products consist primarily of bronze memorials
and memorialization products, caskets and cremation equipment for the cemetery
and funeral home industries. Brand solutions include graphics imaging products
and services, merchandising solutions, and marking products. The Company’s
products and services include cast bronze memorials and other memorialization
products; caskets; cast and etched architectural products; cremation equipment
and cremation-related products; mausoleums; printing plates, pre-press services,
and imaging systems for the corrugated and primary packaging industries; marking
equipment and consumables for identifying various consumer and industrial
products, components and containers; and merchandising display systems and
marketing and design services.
Any
forward-looking statements contained in this release are included pursuant
to
the “safe harbor” provisions of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown risks and
uncertainties that may cause the Company’s actual results in future periods to
be materially different from management’s expectations. Although the Company
believes that the expectations reflected in such forward-looking statements
are
reasonable, no assurance can be given that such expectations will prove correct.
Factors that could cause the Company’s results to differ materially from the
results discussed in such forward-looking statements principally include
economic, competitive, and technological factors beyond the Company’s
control.