SPRINGFIELD, Mo., Nov. 2, 2010 (GLOBE NEWSWIRE) -- Paul Mueller Company (Pink Sheets:MUEL) announces today that Donald E. Golik, Executive Vice President and CFO, has informed the company of his intentions to retire effective May 31, 2011, after more than 31 years of service. Mr. Golik has been Chief Financial Officer during his tenure with the company, and a member of the Board of Directors since 1982. Mr. Golik is committed to a smooth and orderly transition, and is actively participating in the search for his replacement. Mr. Golik has also stepped down effective October 28, 2010 as Chairman of the Board but will remain a member of the Board of Directors.
Matt Detelich, President and Chief Executive Officer of Paul Mueller Company, stated, "On behalf of our Board of Directors and the entire Paul Mueller Company team, I want to express our sincere thanks to Don for his long and distinguished service as CFO. We look forward to continuing our work with him on the Board of Directors."
William R. Patterson, current Executive Committee Chairman and former Chairman of the Board (January 2004 through October 2005), was elected Chairman of the Board at the regular board meeting held October 28, 2010. Mr. Patterson has extensive experience on boards of various publicly held companies and has been a member of the Board of Directors since 1997.
Paul Mueller Company manufactures stainless steel equipment and performs onsite construction and repair/maintenance worldwide on dairy farms and in a wide variety of industrial applications, including food, dairy and beverage processing; pharmaceutical, biotechnological, and chemical processing; water distillation; heat transfer; HVAC; heat recovery; process cooling; and thermal energy storage.
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This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance growth, conditions or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including but not limited to the factors described on page 33 of the Company's 2009 Annual report. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.