OMNOVA Solutions Reiterates Commitment To Delivering Improved Long-Term Value

(RTTNews) - OMNOVA Solutions (OMN) said, in a response to letter received from Barington Capital Group L.P., that the Board of Directors and management of the company are committed to act in the best interests of the Company and all of its shareholders.

"As part of our continuing effort to maintain an open dialogue with our shareholders, we have had two recent meetings with Barington representatives to discuss their concerns and ideas," said Kevin McMullen, Chairman and Chief Executive Officer of OMNOVA Solutions.

The company said it is taking aggressive actions to strengthen the Company. It continues to evaluate all options for generating improved shareholder value as it executes its performance improvement strategy articulated in its third quarter earnings release.

"As noted in the release, we are accelerating investment in our higher-growth and higher-margin specialty businesses; improving profitability of our traditional core businesses; and optimizing the structure and use of our capital, such as our recently announced share repurchase program and debt retirement actions," said McMullen.