Major shareholder seeks Ameron chief’s ouster

Source: Barington Capital Group, L.P. and NYSE Group, New York; CP staff 

Citing its belief that NYSE-listed Ameron Corp. should trade above $100/share (against a $76.60/share January 5 quote), investor Barington Capital has called on the company’s board to replace President, CEO and Chairman James S. Marlen. In a letter to directors “as a significant stockholder,” Barington states that it is convinced Ameron has a vast value potential that is not being realized, and positive attributes—healthy, asset-rich balance sheet, valuable joint ventures, attractive end markets and leading market positions for its businesses—to support the $100-plus share price assessment.

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