Simpson projecting to win both contested proxy proposals

PLYMOUTH, Mich. (April 20)—Simpson Industries Inc. said preliminary results of its proxy votes show the majority of its shareholders voted down proposals by Milbrook Management Investments Inc. to place three members on Simpson´s 10-member board and to force a nonbinding exploration into selling the company. Simpson´s incumbent nominees to the board appear to have been re-elected by a three-to-two margin and more than 54 percent of the shares voted rejected MMI´s platforms, the supplier said. Simpson will announce final results when its annual meeting reconvenes May 2.