Investor Press Release
Quanex Announces Key Management Changes at Its Engineered Products Group
HOUSTON, Apr 7, 2011 (GlobeNewswire via COMTEX) -- Quanex Building Products Corporation "Quanex" (NYSE:NX) announced several key management changes at its Engineered Products Group (EPG), effective today. These changes are the result of Quanex's acquisition of Edgetech on April 1, 2011.
August (Gus) J. Coppola (62) will assume the role of Senior Vice President -- Corporate Development, reporting to David D. Petratis, chairman and chief executive officer of Quanex Building Products and is responsible for managing the company's acquisition process, its solar adhesives and aftermarket businesses. Coppola was formerly Senior Vice President -- Quanex Building Products, responsible for launching Project Nexus, a company initiative that successfully brought together the sales and marketing teams of EPG's three disparate fenestration businesses: Mikron, Truseal and Homeshield. Prior to that, he was President of Truseal, a leading manufacturer of single seal, flexible warm edge insulating glass spacer systems.
Michael B. Hovan (45) will assume the role of Senior Vice President -- Sales and Marketing EPG, responsible for EPG's national and regional sales initiatives as well as oversee Edgetech's international operations and global sales. Hovan, formerly the President of Edgetech from 2000 - 2011, spent 17 years at Edgetech's parent company, Lauren International, a leading manufacturer of polymer-based custom profiles for a diversified base of industrial OEMs. Hovan played an essential role in the Quanex acquisition of Edgetech and he will report to Petratis.
George L. Wilson (42) will assume the role of General Manager -- Edgetech, a leading manufacturer of dual seal, flexible warm edge insulating glass spacer systems. Wilson will report to Petratis and is responsible for Edgetech's U.S. operations. Wilson was with Lauren International for two years that included senior positions in human resources and operations. Prior to joining Lauren, Wilson spent 15 years with Federal Mogul, a global manufacturer of automotive and power generation products. His last position at Federal Mogul was as General Manager -- Lighting Products, where he was accountable for all P&L responsibilities of this international division.
"I owe Gus a large debt of gratitude and heartfelt thanks for successfully driving Project Nexus, an integral set of new strategic growth initiatives for Quanex. Gus took charge of Nexus with a passion and our ability to outperform the end market speaks to its ongoing success. As we look to profitably grow our sales through fenestration related acquisitions, Gus will play an essential role in helping us secure that next winning acquisition and help us to identify new technologies. Also, I am very pleased to have the caliber of talent found in Mike and George join us. They were instrumental in our acquisition of Edgetech and I look forward to their contributions in key leadership roles at Quanex. Having worked closely with each of them during the acquisition, I can speak confidently about the skills, experience, and team-based culture they bring. As these three leaders assume their new roles, we will focus on profitable growth and developing synergies within EPG," Petratis said.
Quanex is an industry-leading manufacturer of engineered components, products and systems serving North America and international window and door OEMs. Our strategy is to profitably grow sales through a combination of organic growth initiatives (new products and programs) and fenestration related acquisitions that provide our customers with a compelling value proposition. For further information, visit us at www.quanex.com.
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Statements that use the words "expect," "should," "believe," "will," "might," or similar words reflecting future expectations or beliefs are forward-looking statements. The statements found above are based on current expectations. Actual results or events may differ materially from this release. Factors that could impact future results may include, without limitation, the effect of both domestic and global economic conditions, the impact of competitive products and pricing, and the availability and cost of raw materials. For a more complete discussion of factors that may affect the company's future performance, please refer to the company's most recent 10-K filing on December 20, 2010, under the Securities Exchange Act of 1934, in particular the section titled, "Private Securities Litigation Reform Act" contained therein. The forward-looking statements are intended to express the company's expectations as of the date of this release. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE: Quanex Building Products Corporation
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