Core Viewpoint - The arbitrator's ruling affirms Matthews International Corporation's right to sell its proprietary Dry Battery Electrode technology to customers other than Tesla, allowing the company to resume marketing and selling its products in the electric vehicle market [2][4]. Company Overview - Matthews International Corporation is a global provider of industrial technologies, memorialization products, and brand solutions, with approximately 12,000 employees across more than 30 countries [6]. Technology and Innovation - The company has a long-standing background in manufacturing advanced Dry Battery Electrode technology and was awarded U.S. Patent No. 12,136,727 B2 for systems related to manufacturing dry electrodes on November 5, 2024, which is expected to lead to further innovations in the DBE industry [3][4]. Market Position - The ruling allows Matthews to capitalize on the growing demand for battery solutions in the electric vehicle market, where manufacturers are seeking innovative technologies [2][3].

Core Viewpoint - Matthews International Corporation emphasizes the importance of shareholder support for its director nominees and highlights the potential risks associated with the opposing nominees from Barington, asserting that their understanding of Matthews' business is inadequate [2][3][5]. Group 1: Shareholder Support and Board Composition - GAMCO Asset Management, a significant shareholder with approximately 4.38% stake, has endorsed Matthews' director nominees, indicating confidence in the current board's ability to create long-term shareholder value [4]. - Matthews' board nominees, including Terry L. Dunlap, Alvaro Garcia-Tunon, and J. Michael Nauman, are presented as having the necessary experience and skills to guide the company's strategic direction effectively [17][18]. Group 2: Critique of Barington's Nominees - Barington's nominees are criticized for lacking relevant experience and understanding of Matthews' business, with specific examples highlighting their past failures and lack of preparedness during interactions with Matthews [12][13][14][15][16]. - The letter argues that Barington's simplistic view of Matthews' business could lead to detrimental decisions that would harm shareholder value [11]. Group 3: Business Overview and Strategy - Matthews International has a long history of evolving through innovation and investment, focusing on memorialization products, industrial technologies, and brand solutions [2][20]. - The company has successfully built a leading position in the memorialization segment, generating predictable free cash flow that supports dividends and reinvestment in high-growth areas [8][10].

Highlights Matthews' Longstanding Culture of Deceit Most Recently Evidenced by its Meandering and Misguided 68-page Presentation Believes Matthews' Status Quo is Untenable and the Election of Ana Amicarella, Chan Galbato and James Mitarotonda is Required to Drive Much-Needed Change and Long-Term Value CreationUrges Shareholders to Vote the GOLD Proxy Card "FOR" the Election of ALL of Barington Capital's Nominees NEW YORK, Jan. 30, 2025 /PRNewswire/ -- Barington Capital Group, L.P. ("Barington Capital"), a f ...

Egan-Jones Recommends Shareholders Vote "WITHHOLD" on Matthews' Nominees Terry L. Dunlap, Alvaro Garcia-Tunon and J. Michael Nauman and "AGAINST" All Matthews' Other Proposals Barington Capital Urges Shareholders to Follow Egan-Jones' Recommendation and Vote the GOLD Proxy Card "FOR" the Election of ALL of its Nominees NEW YORK, Jan. 28, 2025 /PRNewswire/ -- Barington Capital Group, L.P. ("Barington Capital"), a fundamental, value-oriented activist investor that, together with the other participants in its ...

Core Points - Matthews International Corporation is urging shareholders to vote "FOR" its director nominees and "WITHHOLD" on Barington's nominees in the upcoming Annual Meeting scheduled for February 20, 2025 [1][7] - The company has filed an investor presentation with the SEC highlighting its strategic positioning for long-term success [2] Strategic Positioning - The Board and management are focused on portfolio optimization, as demonstrated by the ongoing strategic alternatives process and the planned sale of SGK Brand Solutions [3] - Matthews has diversified its portfolio into new markets and established a global platform for growth under CEO Joe Bartolacci's leadership, particularly in the memorialization business [5] Financial Performance - Since 2014, Matthews has returned approximately $490 million to shareholders through dividends and share repurchases while also investing in capital expenditures and inorganic growth [5] - A cost reduction program is underway, targeting annual consolidated savings of up to $50 million [5] Board Composition - The Board has welcomed three new independent directors since 2020 and nominated a fourth for the 2025 annual meeting, emphasizing a commitment to diversity and experience [5] - The Board collectively owns about 3.3% of the company's shares, indicating alignment with shareholder interests [5] SGK Transaction - The SGK transaction is expected to provide substantial upfront consideration of $350 million at closing, with future synergy-driven value creation [5] Critique of Barington - Barington has not presented new ideas and is perceived as having a short-term focus that could harm shareholder value [6] - The nominees from Barington lack relevant skills and understanding of Matthews' business [6][11]

Details Prolonged Period of Shareholder Value Destruction Caused by Poor Performance, Poor Operating Execution and Poor Capital Allocation Believes CEO and Incumbent Board Are Ineffective, Over Tenured and Entrenched and Cannot be Trusted to Oversee Much-Needed Change Following Years of Empty PromisesBarington's Nominees Bring the Leadership Experience and Sector Expertise the Board Urgently Needs to Unlock Matthews' Embedded Value Urges Shareholders to Vote the GOLD Proxy Card "FOR" the Election of ALL of ...

SGK Sale Illustrates Your Board’s Prudent Stewardship and Why James Mitarotonda and Barington’s Other Nominees Won’t Safeguard Your InvestmentPITTSBURGH, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ GSM: MATW) (“Matthews” or the “Company”) today sent a letter to its shareholders emphasizing the Company’s commitment to long-term value creation. Key highlights from the letter include: Your Board has taken decisive actions to enhance long-term shareholder value – particularly th ...

Company Overview - Barington Capital Group, L P, a value-oriented activist investor, owns approximately 1 9% of Matthews International Corporation's outstanding shares [1] - Matthews International Corporation is a publicly traded company on NASDAQ under the ticker MATW [1] Board and Governance Issues - The current Matthews Board is described as radically entrenched, long-tenured, and incapable of holding management accountable for 18 years of value erosion [1][2] - The Board has retained Joseph Bartolacci as CEO despite significant value destruction during his 18-year tenure [2] - Barington questions the Board's independence from management due to its composition and tenure [2] Proposed Changes - Barington proposes electing three new directors: Ana Amicarella, Chan Galbato, and James Mitarotonda [1] - The nominees bring substantial CEO experience, relevant sector expertise, and a commitment to shareholder value creation [1][3] - The new directors aim to enhance corporate governance, improve cash flow, focus businesses, and restore share price performance [3] Shareholder Action - Barington urges shareholders to vote using the GOLD Proxy Card to elect all three nominees [1] - The company has filed a definitive proxy statement with the SEC for the upcoming annual meeting [5][6] Investment Thesis - Barington believes the company is undervalued and can appreciate significantly with improvements in operations, corporate strategy, capital allocation, and governance [4] - The investment firm aims to unlock the value embedded within Matthews that originally attracted their investment in 2022 [4]

PITTSBURGH, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Matthews International Corporation (Nasdaq GSM: MATW) today announced plans to release its first quarter fiscal year 2025 earnings results after the market closes on Thursday, February 6, 2025. The Company will host a conference call and webcast to review the financial and operating results for the period and discuss its outlook. Participating in the call will be Joseph C. Bartolacci, President and CEO and Steven F. Nicola, Chief Financial Officer. A question-an ...

Sends Letter to Shareholders Outlining Barington Capital's Four-Step Plan to Drive Long-Term Value Creation at Matthews Highlights Need for New Directors and a New CEO Following Years of Share Price Underperformance, Poor Operational Execution and Capital Allocation, Excessive Spending and Empty Promises Urges Shareholders to Vote the GOLD Proxy Card "FOR" ALL Barington Capital Nominees NEW YORK, Jan. 10, 2025 /PRNewswire/ -- Barington Capital Group, L.P. ("Barington Capital"), a fundamental, value-oriente ...