Steven S. Elbaum
Chairman and Chief Executive Officer
- THE ALPINE GROUP, INC. TO RECEIVE $8.5 MILLION IN LITIGATION SETTLEMENT -
EAST RUTHERFORD, N.J., April 30, 2008, Market Wire/ -- The Alpine Group, Inc. ("Alpine") (APNI.PK) today announced that it will receive approximately $8.5 million in cash as its share of a 2007 settlement arising from a lawsuit filed by Alpine’s subsidiary, Essex Electric Inc. in 2003 (now known as Exeon Inc.) and other plaintiffs, alleging a conspiracy to increase the prices of copper products during the 1993-1996 timeframe in violation of Section 1 of the Sherman Act.
The Alpine Group, Inc. (APNI.PK) 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.