News Release: August 18, 2011

New York Governor Appoints Fulton Companies' CFO to Economic Development Council

Editorial Contacts:

Melissa Zakrajsek
(315) 298-7182

Pulaski, NY —New York State Gov. Andrew M. Cuomo has appointed the Fulton Companies' Chief Financial Officer Kevin L. LaMontagne to serve as a member of the state's newly launched Regional Economic Development Council. Fulton (www.fulton.com) is a global manufacturer of steam, hydronic and thermal fluid heat transfer products and provider of innovative energy management solutions.

According to the governor's press office, the council is expected to redesign the relationship between the state government and businesses to stimulate economic development and create jobs statewide. The council represents a fundamental shift in the state's approach to economic development, from a top-down development model to one that brings together stakeholders from throughout the state.

"The Governor has been honest with himself and the residents of New York about the economic realities we face," LaMontagne said. "As a council member, I am in a unique position to insert the perspective of Fulton and its employees into this challenging process. I am honored to be able to contribute in this way."

The new council is eligible to apply for $1 billion in state funding for projects determined to be part of economic stimulus strategy. Council members include a cross-section of elected officials and private and public sector representatives.

LaMontagne has served as the Fulton Companies CFO since 2008, and brings more than twenty years of international corporate finance and operations management experience in manufacturing and service industries to the council.

In addition, LaMontagne has played an integral role in an unusual event for a New York State manufacturing firm – a major facility expansion project (118,000 square feet) to accommodate Fulton's increasing product demand and development, along with the addition of dozens of new jobs to respond to Fulton's unprecedented growth during struggling economic times.

Fulton's headquarters are located in Pulaski N.Y., in a county identified by state statistics as having the second highest unemployment rate in New York's 62 counties. In the first half of 2011, the county's unemployment rate soared to more than 12 percent, as compared to the state average of 8.7 percent. Fulton's success has served as a bright spot in the economic environment of northern New York. The company's dedication to the geographic region, together with its strategy of superior customer service, quality on-site product construction, and globalization of sales have resulted in a continued strong presence, despite other manufacturers in the state experiencing slow recovery from economic downturn.

"Fulton chose to build its expansion in Pulaski over various other domestic and international options," LaMontagne said. "In my view, New York has both challenges and opportunities for manufacturers, and I intend to assist the Council in capitalizing on the many opportunities while addressing the challenges. Manufacturers in New York like Fulton can compete successfully in the global marketplace every day – we need to build on this."

A life-long resident of New York, LaMontagne received a bachelor's degree from the State University of New York at Potsdam and a master of business administration from the University of Iowa.

To learn more about New York's Regional Economic Development Councils, please visit www.nyopenforbusiness.com.

For additional information about Fulton and its products, or to locate a sales representative near you, please visit www.fulton.com.

The Fulton Companies

With manufacturing facilities in the United States, Great Britain and China, Fulton is a global manufacturer of steam, hydronic and thermal fluid heat transfer systems. Backed by over 60 years of research, innovation and experience, Fulton is building on a tradition of success and is focused on improving life through heat transfer solutions. For additional information about Fulton and its products, visit the company's Web site at www.fulton.com.