Preliminary Voting Results Indicate Barington Group Victory in Eastern Company Proxy Contest

NEW YORK, May 22, 2015 /PRNewswire/ -- The Barington Group, which owns over 5.2% of the outstanding shares of The Eastern Company (NASDAQ: EML), announced today that a count of the preliminary voting results from the 2015 Annual Meeting of Shareholders by MacKenzie Partners, Inc., the Barington Group's proxy solicitor, indicate that the Barington Group's nominees – James A. Mitarotonda and Michael A. McManus, Jr. – have been elected to the Board of Directors.  

Commenting on the preliminary voting results, James A. Mitarotonda, the Chairman and Chief Executive Officer of Barington Capital Group, L.P. stated, "The preliminary results confirm that the shareholders of Eastern agree with us that there is a need for change at the Company.  We are grateful for the support we have received from our fellow shareholders and are committed to working diligently on their behalf to help improve Eastern's strategic focus, profitability and corporate governance.  Michael McManus and I look forward to joining the Eastern Board and working collaboratively with the Company's incumbent directors.  We strongly believe in the future of Eastern and believe that the Company's best days are yet to come."

About Barington Capital Group, L.P.:

Barington Capital Group, L.P. is an investment firm that, through its affiliates, manages a value-oriented, activist investment fund that was established by James A. Mitarotonda in January 2000.  The Fund invests in undervalued publicly traded companies that Barington believes could appreciate significantly in value as a result of a change in corporate strategy or from various operational, financial or corporate governance improvements.  Barington's investment team, senior advisors and industry contacts are seasoned operating specialists, experienced in working with companies to design and implement initiatives to improve their long-term financial and share price performance.  Barington has substantial experience investing in manufacturing and industrial companies, including Ameron International, Stewart & Stevenson Services, Griffon Corporation, Gerber Scientific, Lancaster Colony Corporation, Spartech Corporation, OMNOVA Solutions Inc. and A. Schulman, Inc.  Barington represents a group of shareholders that collectively owns over 5.2% of the outstanding shares of common stock of The Eastern Company. 

CONTACT:  

Jared L. Landaw
Chief Operating Officer
Barington Capital Group, L.P.
(212) 974-5713

SOURCE The Barington Group