The Eastern Company Announces Change in Independent Registered Public Accounting Firm
19 July 2005 - 7:13AM
Business Wire
The Eastern Company (AMEX:EML) today announced that its Board of
Directors accepted the recommendation of its Audit Committee to
replace its Independent Registered Public Accounting Firm, Ernst
& Young LLP, with UHY LLP to audit the Company's financial
statements for the fiscal year ending December 31, 2005. The change
in the Company's Independent Registered Public Accounting Firm was
effective July 14, 2005. The Company has had a long and good
standing relationship with Ernst & Young LLP. However because
of the escalating audit and other compliance fees the Board of
Directors has accepted the Audit Committee's recommendation to
appoint UHY LLP. The Eastern Company is a 147-year-old manufacturer
of industrial hardware, security products and metal castings. It
operates from nine locations in the U.S., Canada, Mexico, Taiwan
and China. The diversity of the Company's products helps it to
respond to the changing requirements of a broad array of markets.
Forward-Looking Statements: Information in this news release
contains statements which reflect the Company's current
expectations regarding its future operating performance and
achievements. Actual results may differ due to the many economic
uncertainties that affect the Company's business environment.
Further information about the potential factors which could affect
the Company's financial results are included in the Company's
reports and filings with the Securities and Exchange Commission.
The Company is not obligated to update or revise the aforementioned
statements for those new developments.
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