Climax Elects Liebermann as Chairman of the Board

Climax Portable Machine Tools, Inc., a global provider of comprehensive, on-site machining solutions, announces the election of Thomas R. Liebermann as Chairman of the Board. In addition to corporate governance, as Chairman, Mr. Liebermann will provide strategic counsel to Climax's executive management team to enable the company to capitalize on the growing number of new opportunities for the use of its portable machine tools in the power generation, shipbuilding, civil engineering and service industries. Liebermann brings over 20 years experience in leading international companies to greater growth and profitability. In addition to being Chairman of Climax, Mr. Liebermann will continue to serve as Managing Director of Philips Screw Company, a recognized global leader in innovative fastening solutions, and as Chairman and CEO of Advanced Systems International, a holding company for industrial technology acquisitions. Previously, he was President of the Thermal Group of Thermal Scientific, plc, a $100m international technology group, specializing in thermal technology, polymers and scientific instrumentation. He also served as Chairman and CEO of Advanced Frequency Products and Kaye Instruments.