Mayville Engineering Company, Inc. Announces Management Promotions
June 12 2019 - 08:30AM
Business Wire
Mayville Engineering Company (NYSE: MEC) (the “Company” or
“MEC”), a leading U.S.-based value-added manufacturing partner that
provides a broad range of prototyping and tooling, production
fabrication, coating, assembly and aftermarket services, today
announced two senior management promotions that are effective
immediately.
Ryan Raber promoted to Executive Vice President – Strategy,
Sales & Marketing
Raber will continue to lead the Sales and Marketing functions,
refining the sales, quotation and planning process and ensuring
MEC’s market diversity remains strong. In the Strategy role, Raber
will be responsible for the development of strategic planning,
analyzing market dynamics, competitive intelligence, measuring
performance. Raber joined the Company in 2009, and has served
in several sales and marketing roles of increasing responsibility,
serving in operational leadership roles and facilitating the MEC
strategic planning process.
“This promotion recognizes Ryan’s continued growth at MEC, his
outstanding business acumen, and his knowledge of and contributions
to our business. This is the well-deserved natural step in his
ongoing leadership development,” said Robert Kamphuis, Chairman,
President, & Chief Executive Officer.
Steve Mance promoted to Chief Operating Officer
In this role, Mance will be responsible for maximizing operating
performance and driving the Company’s ability to utilize Agility,
Adaptability and (re)Alignment of manufacturing capacities to
support the demand dynamics of MEC’s diverse customer base. Prior
to joining MEC in 2018, Mance had led Defiance Metal Products (DMP)
for eight years.
Kamphuis explained, “Steve’s 35 years of successful leadership
in industrial companies makes him the ideal fit for the COO role at
MEC. With the integration of DMP on track, and firmly entrenched as
part of the MEC family, we are confident he will help us discover
new synergies within the expanded business and continue to advance
the long-term growth prospects of the Company.”
“Overall, these strategic moves, plus a number of additional
related promotions and role changes, will streamline and focus
MEC’s framework, allowing us to continue to grow, enhance our
position as the market leader in our business, promote leadership
growth and development, and most importantly, further enhance
shareholder value,” added Kamphuis.
Forward Looking
Statements
This press release includes forward-looking statements that
reflect our plans, estimates and beliefs. Such statements involve
risks and uncertainties. Our actual results may differ materially
from those contemplated by these forward-looking statements as a
result of various factors, including those set forth in “Risk
Factors” and “Cautionary Statement Regarding Forward-Looking
Statements” in the Company’s previously filed registration
statement on Form S-1. Important factors that could cause actual
results or events to differ materially from those expressed in
forward-looking statements include, but are not limited to: failure
to compete successfully in our markets; risks relating to
developments in the industries in which our customers operate; our
ability to maintain our manufacturing, engineering and
technological expertise; the loss of any of our large customers or
the loss of their respective market shares; risks related to
scheduling production accurately and maximizing efficiency; our
ability to realize net sales represented by our awarded business;
our ability to successfully identify or integrate acquisitions;
risks related to entering new markets; our ability to develop new
and innovative processes and gain customer acceptance of such
processes; our ability to recruit and retain our key executive
officers, managers and trade-skilled personnel; risks related to
our information technology systems and infrastructure;
manufacturing risks, including delays and technical problems,
issues with third-party suppliers, environmental risks and
applicable statutory and regulatory requirements; political and
economic developments, including foreign trade relations and
associated tariffs; volatility in the prices or availability of raw
materials critical to our business; results of legal disputes,
including product liability, intellectual property infringement and
other claims; risks associated with our capital-intensive industry;
risks related to our treatment as an S Corporation prior to the
consummation of the initial public offering; risks related to our
employee stock ownership plan’s treatment as a tax-qualified
retirement plan; and our ability to remediate the material
weaknesses in internal control over financial reporting identified
in preparing our audited consolidated financial statements and to
subsequently maintain effective internal control over financial
reporting. This discussion should be read in conjunction with our
audited consolidated financial statements included in the Company’s
previously filed registration statement on Form S-1. Except as
required by the federal securities laws, we undertake no obligation
to update or revise any forward-looking statements after the date
on which any such statement is made, whether as a result of new
information, future events or otherwise.
About MEC
MEC is a leading U.S.-based value-added manufacturing partner
that provides a broad range of prototyping and tooling, production
fabrication, coating, assembly and aftermarket components. Our
customers operate in diverse end markets, including heavy- and
medium-duty commercial vehicles, construction, powersports,
agriculture, military and other end markets. We have developed
long-standing relationships with our blue-chip customers based upon
a high level of experience, trust and confidence.
Our one operating segment focuses on producing metal components
that are used in a broad range of heavy- and medium-duty commercial
vehicles, construction, powersports, agricultural, military and
other products. For more information, please visit
www.mecinc.com
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version on businesswire.com: https://www.businesswire.com/news/home/20190612005224/en/
MEDIA CONTACT:Lisa Lahr 920-387-6051lisa.lahr@mecinc.com
INVESTOR CONTACT:Nathan
Elwell847-530-0249nelwell@lincolnchurchilladvisors.com
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