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Kaiser Group Holdings, Inc. (Pink Sheets: KGHI), a Delaware holding company with its corporate headquarters located in Fairfax, Virginia (“Company”), has announced that it will be relocating its offices to Birmingham, Alabama where the office of one of its subsidiaries, Kaiser Aircraft Industries, Inc., is located. The executives located in Fairfax have opted to remain in Virginia and will be departing the Company effective March 31, 2013. Effective April 1, the Board of Directors will be comprised of Harold T. (“Skip”) Bowling, Chairman; Michael Tennenbaum, Director (current and ongoing); and Nicholas Burakow, Director and currently Executive Vice President and CFO for the Company.
Mr. Bowling commented, “We are pleased to be consolidating our operations into one location for maximum efficiency and oversight of our work. We are grateful to the current executives of the Company – Frank Williams, Doug McMinn and Nick Burakow - for their exemplary service to the organization over the years. Their long and distinguished careers at Kaiser are something we can all be proud to celebrate. We are pleased that their wisdom will continue to be available to Kaiser, as needed.”
This press release contains forward-looking statements as defined by federal securities laws. Statements contained in this press release which are not historical facts are forward-looking statements. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. A number of factors could cause actual results, performance achievements of Kaiser or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.These factors include, but are not limited to, Kaiser's ability to obtain and to successfully execute on government contracts, economic and regulatory conditions, inflation and certain other factors. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.Kaiser undertakes no obligation to update these statements following the date of this press release, except as required by law. In addition, Kaiser, through its senior management, may make from time to time forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of Kaiser’s senior management based upon current information and involve a number of risks and uncertainties, and are subject to the factors described herein.