Investor Press Release
Quanex Building Products Corporation Names New Vice President and Treasurer
HOUSTON, Nov 6, 2008 (GlobeNewswire via COMTEX News Network) -- Quanex Building Products Corporation (NYSE:NX), an industry-leading manufacturer of value-added, engineered materials and components for the building products market, today announced the appointment of Jairaj 'JC' Chetnani, 37, to the position of Vice President and Treasurer, effective December 1, 2008. Mr. Chetnani will be responsible for the Company's corporate finance functions including cash, risk management, foreign exchange, pensions and acquisition due diligence. He is replacing John Mannion who is leaving the Company to pursue other opportunities.
"We look forward to enhancing our management team with the knowledge and experience that JC will bring to Quanex Building Products," said Brent Korb, Quanex Chief Financial Officer. "His contributions should prove very valuable as we continue to grow our businesses globally and we begin to see pricing improvement in acquisition opportunities."
Mr. Chetnani was most recently Treasurer with MEMC Electronic Materials, a NYSE listed global manufacturer of semiconductor wafers with $2 billion in sales. Prior to that, he held positions of increasing responsibility in Corporate Treasury at YRC Worldwide, a $10 billion, Fortune 500 transportation services provider and Hillenbrand Industries, a $2 billion international holding company in the medical, funeral and financial services industries.
Mr. Chetnani earned master's degrees from both Indiana University in Bloomington, Indiana and Jamnalal Bajaj Institute in Mumbai, India. Mr. Chetnani is also a CFA charterholder.
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 Registration Statement on Form 10, filed with the SEC on April 4, 2008 pursuant to the Securities Exchange Act of 1934, in particular the section titled, "Special Note About Forward-Looking Statements" contained therein.
For additional information, visit the Company's website at www.quanex.com.
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SOURCE: Quanex Building Products Corporation
Quanex Building Products Corporation