Steven S. Elbaum
Chairman and Chief Executive Officer
- DAVID A. OWEN TRANSITIONS TO WOLVERINE TUBE, INC.,
MICHAEL E. SMITH NAMED AS VICE PRESIDENT - FINANCE OF ALPINE -
EAST RUTHERFORD, N.J., October 25, 2007, Marketwire/ -- The Alpine Group, Inc. (“Alpine”) (PINKSHEETS:APNI) announced today that David A. Owen, Alpine’s Chief Financial Officer, had resigned from that position and been appointed Senior Vice President, Finance and Accounting of Wolverine Tube, Inc. (OTCBB:WLVT), where he will be named Chief Financial Officer, effective January 1, 2008. Steven S. Elbaum, Chairman and Chief Executive Officer of Alpine, stated that “Dave is a very experienced and effective manager. His joining Wolverine will greatly strengthen its senior management team and add value not only to Alpine’s investment in Wolverine, but to that of all shareholders. We appreciate his years of service to Alpine and are pleased to name Michael E. Smith as Vice President-Finance of Alpine. As Alpine’s Controller, Mike reported to Dave and we are pleased to promote Mike to this well deserved position. Mike has been with Alpine and affiliates since 1998.”
The Alpine Group, Inc. (PINKSHEETS: APNI) has substantial experience in operating and actively managing companies in which it invests capital. Alpine has focused on industrial and other businesses that are underperforming, experiencing financial constraints and will benefit from operational improvements, consolidation and an improved capital structure. Alpine has actively invested in and operated leading domestic and global manufacturers of specialty materials, coatings, wire and cable products and electronic components.
Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, prediction and timing of customer orders, the impact of competitive products and pricing, changing economic conditions, including changes in short-term interest rates and foreign currency fluctuations, and other risk factors detailed in Alpine's most recent annual report and other filings with the Securities and Exchange Commission.