STAMFORD, Conn., April 21 /PRNewswire-FirstCall/ -- Stamford Industrial Group, Inc. (Pink Sheets: SIDG "SIG" or the "Company"), today announced that Concord Steel, Inc. ("Concord Steel"), its wholly-owned subsidiary, has entered into a settlement for a new collective bargaining agreement with employees at its Warren, Ohio facility that are members of the United Steelworkers Union ("Local 2243"). The new collective bargaining agreement, with a term beginning September 1, 2008 and expiring August 31, 2012, replaces the previous agreement between Concord Steel and Local 2243 that expired on August 31, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070912/NYW145LOGO)

SIG's Chief Executive Officer Al Weggeman commented, "I am pleased to report that the Local 2243 membership has ratified the new four year collective bargaining agreement which we believe provides a measure of economic and non-economic benefits to both Concord Steel and its unionized employees."

About Stamford Industrial Group, Inc.

Stamford Industrial Group, Inc. is working to build a diversified global industrial manufacturing group through organic and acquisition growth initiatives that will complement and diversify existing business lines. Concord Steel, Inc., a wholly-owned subsidiary of Stamford Industrial Group, acquired in October 2006, is a leading independent manufacturer of steel counter-weights and structural weldments that are incorporated into a variety of industrial equipment, including aerial work platforms, cranes, scaffolding, elevators and material handling equipment.

Additional information about Stamford Industrial Group, Inc. can be found at http://www.Stamfordig.com.

Forward-looking Statements

This press release includes "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may use words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions to identify forward-looking statements. These forward-looking and other statements, which are not historical facts, are based largely upon our current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by such forward-looking statements. These risks and uncertainties include, among others, our inability to secure necessary financing, our inability to continue to comply with the financial covenants under our credit agreement, our ability to implement our acquisition growth strategy and integrate and successfully manage any businesses that we acquire, our ability to continue to grow revenues in our operating divisions, our ability to use our net operating loss carry forward, changes in the Company's relationship with customers, changes in the demand for counterweights or the growth of the construction industry, changes in our relationship with our unionized employees, the current economic downturn and its effect on the credit and capital markets as well as the industries and customers that use our products, declines in the business of our customers, the loss of major customers, reductions to our deferred tax assets or recognition of such assets, the price of steel, and other factors described in the "Risk Factors" section of the Company's filings with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K and most recently filed Forms 8-K and 10-Q, which may be obtained at our web site at www.stamfordig.com or the Securities and Exchange Commission's web site at www.sec.gov.

SOURCE Stamford Industrial Group, Inc.