Lamson & Sessions advances strategic evaluation, forms special committee

By Lisa Kerner

Charlotte, N.C., May 8 - Lamson & Sessions' board of directors formed a special committee of six independent directors, chaired by James T. Bartlett, to oversee the company's strategic evaluation process.

"This is the next logical step in the strategic evaluation process that we began in February in our ongoing effort to maximize shareholder value," president and chief executive officer Michael J. Merriman Jr. said in a company news release.

The company will disclose developments if and when the board approves a specific transaction or course of action.

Lamson & Sessions has been under pressure from investor Admiral Advisors, LLC, a subsidiary of Ramius Capital Group, LLC, to delay its 2007 annual meeting or add a Ramius representative to the board.

Ramius had previously asked Lamson's board to consider a sale of its PVC pipe business.

Lamson is a Cleveland manufacturer of thermoplastic electrical, consumer, telecommunications and engineered sewer products.

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