FERGUS FALLS, Minn., April 20, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation hosted 404 shareholders and guests at its annual meeting of common shareholders on Monday, April 20, in Fergus Falls, Minnesota. Represented by proxy or present in person at the meeting were nearly 85 percent of the corporation's total shares outstanding. Shareholders reelected Karen M. Bohn, Edward J. McIntyre, and Joyce Nelson Schuette to serve three-year terms on Otter Tail Corporation's board of directors.
Bohn has served on the board since 2003. She is president of Galeo Group, LLC, a management consulting firm in Edina, Minnesota. McIntyre, of White Salmon, Washington, is a retired Xcel Energy vice president and chief financial officer. He has served on the board since 2006. Schuette, also a board member since 2006, is a retired managing director and investment banker with Piper Jaffray & Co. She resides at Walker, Minnesota.
In his address to shareholders, President and CEO John Erickson said that 2008 had been a challenging year given the impact of the broad downturn in the economy on Otter Tail operating companies. He also noted some bright spots in 2008 and outlined Otter Tail Corporation's significant involvement in wind energy through five of its operating companies. And despite recent industry challenges, Erickson expressed optimism in the long-term outlook for wind energy.
About the corporation
Otter Tail Corporation has interests in diversified operations that include an electric utility, manufacturing, health services, food ingredient processing, and infrastructure businesses that include plastics, construction, and transportation. Otter Tail Corporation stock trades on the NASDAQ Global Select Market under the symbol OTTR. The latest investor and corporate information is available at www.ottertail.com. Corporate offices are in Fergus Falls, Minnesota, and Fargo, North Dakota.
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Forward-looking statements
Except for historical information, all other information provided in this presentation consists of "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, or implied. The most significant of these risks and uncertainties are discussed or identified in Otter Tail Corporation's public filings made with the Securities and Exchange Commission. Otter Tail Corporation undertakes no obligation to publicly update or revise any forward-looking statements.