Quanex Announces Key Management Changes at Its Engineered Products Group
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HOUSTON, April 7, 2011 (GLOBE NEWSWIRE) -- 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.
The Quanex Building Products Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=1117
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.
CONTACT: Financial Contact:
Jeff Galow
713-877-5327
Media Contact:
Valerie Calvert
713-877-5305
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