Kreisler Manufacturing Corporation Announces the Appointments of
a New Chairman, Chief Executive Officer and Chief Financial Officer
ELMWOOD PARK, N.J., June 29 /PRNewswire-FirstCall/ -- Kreisler Manufacturing
Corporation (NASDAQ:KRSL) today announced that Wallace N. Kelly joined
Kreisler's Board of Directors and was elected to the position of Chairman of
the Board. In addition, Michael D. Stern, currently Kreisler's Vice President
of Operations, was elected Co-President and Chief Executive Officer. Edward A. Stern, currently Kreisler's Vice President of Administration, was elected
Co-President and Chief Financial Officer. These three positions were
previously held by the Company's long-time President and Chief Executive
Officer, Edward L. Stern, who passed away on June 15, 2004.
Kreisler's Board of Directors recognized Mr. Stern's contributions to the
Company during his long career. John W. Poling and Michael L. Goldberg
commended Mr. Stern for his leadership, energy and passion for his job and the
love he had for Kreisler and his family. Mr. Stern made an indelible mark on
Kreisler, and he will be missed.
Wallace N. Kelly joined Kreisler in February 2000 and serves as a Consultant to
the Co-Presidents. Mr. Kelly was Executive Vice President and Chief Operations
Officer of Kreisler until October 2003. Mr. Kelly has been an engineering
consultant since 1993. From 1988 to 1993 Mr. Kelly worked for Chromalloy Gas
Turbine Corporation. From 1961 to 1988 Mr. Kelly held various engineering
positions with the Pratt and Whitney Division of United Technologies
Corporation and GE Aircraft Engines. Mr. Kelly graduated with a Bachelor of
Science in mechanical engineering from Michigan Technological University.
Michael D. Stern joined the Company in 1990 and was Vice President of
Operations with responsibility for sales, manufacturing, engineering, quality
control and estimating. Mr. Stern graduated with a Bachelor of Arts in
economics from Emory University.
Edward A. Stern joined the Company in 1991 and was Vice President of
Administration with responsibility for sales, purchasing, production control,
information technology and estimating. Prior to joining Kreisler, Mr. Stern's
experience included five years with American Airlines in the Corporate Finance
and Financial Analysis areas. Mr. Stern graduated with a Master of Business
Administration in finance and accounting from the Kellogg School of Management,
Northwestern University and a Bachelor of Arts in economics from Emory
University.
Along with Mr. Kelly, Messrs. Goldberg and Poling comprise the three members of
Kreisler's Board of Directors. The Company is actively seeking another
individual to serve as a director.
Kreisler fabricates precision metal components for use in aircraft and
industrial gas turbine engines. Kreisler's primary product lines include tube
and manifold assemblies manufactured from various materials to customer
configurations. The Company maintains numerous fabrication processes including
tube bending, heat treating, furnace brazing, manual and automatic welding,
machining, nickel plating as well as radiographic and pentrant inspections. DATASOURCE: Kreisler Manufacturing Corporation CONTACT: Ned Stern, CFO, Kreisler Manufacturing Corporation, +1-201-791-0700 Web site: http://www.kreisler-ind.com/
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