Exhibit
99.1
Matthews
International Corporation
Corporate
Office
Two
NorthShore Center
Pittsburgh,
PA 15212-5851
Phone:
(412) 442-8200
Fax: (412)
442-8290
|
Release
date: December 21, 2009
|
Contact:
|
Steven
F. Nicola
|
Chief
Financial Officer, Secretary &
Treasurer
412-442-8262
MATTHEWS
INTERNATIONAL CORPORATION
ANNOUNCES
ACQUISITION OF UNITED MEMORIAL PRODUCTS, INC.
PITTSBURGH, PA, December 21, 2009 --
Matthews International Corporation (NASDAQ GSM: MATW) today announced the
acquisition of United Memorial Products, Inc., a leading supplier of granite
memorial products, burial vaults and caskets in the western United
States. United Memorial Products, which is headquartered in Los
Angeles, CA, reported sales of approximately $11 million in calendar
2008.
Joseph C.
Bartolacci, President and Chief Executive Officer of Matthews, stated, “The
acquisition of United Memorial Products adds first-rate granite offerings to the
memorial expertise of Matthews, allowing us to increase our presence as a
full-service memorial products supplier. United’s reputation for
superior customer service and high-quality products makes them an ideal partner
as we expand the breadth of our memorial product offerings.”
James P.
Doyle, President of Matthews Memorialization Group, said, “Matthews already is a
leading supplier of bronze memorials. This acquisition is designed to
strengthen our presence in the broad granite segment and enable us to be an even
more valuable resource to our customers.”
Terms of
the acquisition were not immediately disclosed.
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 other memorialization products, caskets and cremation equipment
for the cemetery and funeral home industries. Brand solutions include
graphics imaging products and services, marking products, and merchandising
solutions. The Company’s products and services
include
Matthews
International
Corporation 2
of 2 December 21, 2009
cast
bronze memorials and other memorialization products; caskets; cast and etched
architectural products; cremation equipment and cremation-related products;
mausoleums; brand management; printing plates and cylinders, pre-press services
and imaging services for the primary packaging and corrugated industries;
marking and coding equipment and consumables, and industrial automation products
for identifying, tracking and conveying various consumer and industrial
products, components and packaging 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 changes in economic
conditions, competitive environment, death rate, foreign currency exchange
rates, and technological factors beyond the Company’s control.