HUSKY’S ROBERT SCHAD ANNOUNCES RETIREMENT PLANS

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HUSKY’S ROBERT SCHAD ANNOUNCES RETIREMENT PLANS
10 December 2004 - Husky Injection Molding Systems

Company founder to step down as President and CEO in a year, will remain a director.

Robert Schad is stepping down as President and CEO of Husky Injection Molding Systems, the global company he founded in a Toronto garage more than 50 years ago.

While Schad did not name a successor, the company’s board of directors has put in place a committee to identify potential successors. Schad made the announcement at the company’s annual shareholders meeting in Toronto on 7 December.

“I have decided that within one year, I will be stepping down,” said Schad, 76, who will remain on Husky’s board of directors. “I believe we’re headed in the right direction. We have developed a strong product platform, solid global operations, we have the industry’s best customer support network and our leadership team is strong. I know I will be leaving the company in good hands.”

Born in Germany, Schad arrived in Canada in the early 1950s with $25 in his pocket and a letter of reference from family friend Albert Einstein. Schad founded Husky in a garage in 1953 and built the company into the world’s leading supplier of injection moulding equipment and services to the plastics industry. Today the company is a US$774 million business with customers in more than 100 countries.

http://www.husky.ca

About: Husky Injection Molding Systems
Husky Injection Molding Systems is a global supplier of injection moulding equipment and services to the plastics industry. With one of the broadest product lines in the industry, customers use Husky equipment to manufacture a wide range of products in the packaging, technical and automotive industries. The company has more than 40 service and sales offices, supporting customers in more than 100 countries. Husky’s manufacturing facilities are located in Canada, the United States, Luxembourg and China. The company’s common shares (HKY) are listed on the Toronto Stock Exchange and are included in the S&P/TSX Composite Index.

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