OFFICIAL STATEMENT: HANNIBAL REDISTRIBUTES TUBE MANUFACTURING RESOURCES TO FULLY SUPPORT RACK OPERATIONS.

“Throughout our history, Hannibal Industries have seen challenging and constructive times, as evidenced by our transition to becoming an ESOP, weathering the 2008 – 2010 financial crises, and the company’s growth in spite of economic uncertainty. Hannibal’s ability as a company, and our vision to adapt to changes in demand and market fluctuations is a testimony to employees and leadership alike. As we continue to progress and evolve in our objective to be a market leader in the industries we touch, Hannibal will now allocate all of our resources moving forward to meet the growing demands within the pallet rack and material handling industries. With that position in mind, Hannibal is announcing that we will redistribute our tube manufacturing resources to support our growing rack operations and will phase out our steel tube sales to distributors/end-users outside the pallet rack market. We look forward to the new opportunities within the growing supply chain industry and will continue to strive towards progress and success for the company and for our ESOP owners.”

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