Hardinge Issues Statement in Response to Privet Fund Management

ELMIRA, N.Y., March 10, 2015 (GLOBE NEWSWIRE) -- Hardinge Inc. HDNG ("Hardinge" or the "Company"), a leading international provider of advanced metal-cutting solutions and accessories, today issued the following statement to shareholders and other Company stakeholders:

On March 3, 2015, Hardinge received a letter from one of our shareholders, Privet Fund Management LLC, which we have carefully reviewed. Management and the Board of Hardinge value the input we receive from our shareholders and take it into serious consideration.

Hardinge is committed to acting in the best interests of all shareholders. With the oversight and full engagement of our experienced and qualified Board of Directors, the management team regularly reviews and rigorously evaluates the Company's strategy while continually assessing alternatives and initiatives to enhance shareholder value.

On February 12, 2015, we announced strong fourth quarter results highlighted by orders that were at the highest levels since the second quarter of 2011. We are expecting solid growth in 2015 driven by the strength of our year-end orders and backlog, as well as an active pipeline of new orders. As we commented in our earnings release, "we are intent upon growing the business organically and through acquisitions, and to improve productivity to drive stronger profitability."   

We look forward to keeping our shareholders apprised of Hardinge's progress in the coming months as we execute on our plans. We welcome the opportunity to continue a dialogue with all of our shareholders.

About Hardinge

Hardinge is a leading global designer and manufacturer of high precision, computer-controlled machine tool solutions developed for critical, hard-to-machine metal parts and of technologically advanced workholding accessories.  The Company's strategy is to leverage its global brand strength to further penetrate global market opportunities where customers will benefit from the technologically advanced, high quality, reliable products Hardinge produces. With approximately two thirds of its sales outside of North America, Hardinge serves the worldwide metal working market. Hardinge's machine tool and accessory solutions can also be found in a broad base of industries to include aerospace, agricultural, automotive, construction, consumer products, defense, energy, medical, technology and transportation.

Hardinge applies its engineering design and manufacturing expertise in high performance machining centers, high-end cylindrical and jig grinding machines, SUPER-PRECISION® and precision CNC lathes and technologically advanced workholding accessories. Hardinge has manufacturing operations in China, France, Germany, India, Switzerland, Taiwan, the United Kingdom and the United States.

The Company regularly posts information on its website: http://www.hardinge.com.

Safe Harbor Statement

This news release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Such statements are based on management's current expectations that involve risks and uncertainties. Any statements that are not statements of historical fact or that are about future events may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "predicts," "potential," "continue," "strategy," "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. The Company's actual results or outcomes and the timing of certain events may differ significantly from those discussed in any forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.