HOUSTON, July 20, 2015 /PRNewswire/ -- Quanex Building
Products Corporation (NYSE:NX) ("Quanex"), a leading supplier of
window and door components, today announced that F. Timothy (Tim) Reese has joined the Company as
President and Chief Executive Officer of Mikron Industries,
Quanex's vinyl profile business, effective July 27th. Mr. Reese brings 35 years of highly
relevant extrusion manufacturing expertise to this role, including
successful turnaround situations. He will report directly to Quanex
Chairman and Chief Executive Officer Bill
Griffiths.
Mr. Reese joins Mikron from Trex Company (NYSE: TREX), where he
served most recently as Senior Vice President of Operations. In
this capacity, he developed and executed programs that
comprehensively improved profitability, drove supply chain
efficiencies, and improved safety and productivity, among other
initiatives.
"As a matter of strategic focus, Quanex's highest priority is
renewing investment in – and focus on – our core vinyl profile
business to ensure it possesses the strategy, resources, and people
to realize its full potential," commented Griffiths. "Tim is
unquestionably a key addition to this effort. His career has been
defined by high-technology manufacturing excellence, R&D
leadership, and a track record of continuous productivity
improvement. Mikron will be ideally positioned to build upon the
early recovery already achieved to accelerate profitability under
Tim's leadership. We are delighted that he has joined
Quanex, and look forward to his contributions as CEO of our Mikron
business."
"Quanex has a long history of leadership in the fenestration and
adjacent industries, and I am honored to join the leadership team,"
said Mr. Reese. "The company is clearly committed to investing in
and expanding its vinyl profile business, as underscored by its
recent acquisition of HL Plastics, and I look forward to lending my
expertise to the effort as the housing and repair/remodel markets
continue their steady improvement."
Prior to joining Trex, Mr. Reese spent 28 years with DuPont,
where he led two global businesses and served in various
operational roles in the company's chemical, film and polymer
businesses, responsible for facilities domestically and abroad. Mr.
Reese has successfully led multi-plant extrusion operations with
full P&L responsibility, and improved operating disciplines,
teamwork and unit costs.
Earlier in his career, Mr. Reese served in the U.S. Navy as a submarine officer, finishing five years
of military service as a lieutenant. He earned a BS in Ocean
Engineering with an emphasis on Mechanical Engineering from the
U.S. Naval Academy, Annapolis, MD.
Forward Looking Statements
Statements that use the words "estimated," "expect," "could,"
"should," "believe," "will," "might," or similar words reflecting
future expectations or beliefs are forward-looking statements. The
forward-looking statements include, but are not limited to, future
operating results of Quanex, the investments being made in our
vinyl business, the future financial condition of Quanex, future
uses of cash and other expenditures, expenses and tax rates,
expectations relating to the Company's industry, and the Company's
future growth, including revenue and EBITDA guidance. The
statements set forth in this release 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, the
availability and cost of raw materials, and customer demand. For a
more complete discussion of factors that may affect the Company's
future performance, please refer to the Company's Annual Report on
Form 10-K for the fiscal year ended October
31, 2014, under the sections entitled "Cautionary Note
Regarding Forward-Looking Statements" and "Risk Factors," in our
other documents filed with the Securities and Exchange Commission
from time to time. Any forward-looking statements in this press
release are made as of the date hereof, and Quanex Building
Products Corporation undertakes no obligation to update or revise
any forward- looking statements to reflect new information or
events.
About Quanex Building Products
Quanex Building Products Corporation is headquartered in
Houston, Texas with locations
around the world. Its mission is, "to positively impact our
customers, employees and shareholders and put them at the center of
everything we do, through innovation, technology, best-in-class
customer service and excellent returns."
An industry-leading manufacturer of engineered materials and
components for building products sold to Original Equipment
Manufacturers (OEMs), Quanex designs and produces energy-efficient
window and door products, systems and solutions.
Employing top talent, developing forward-thinking technologies
and solutions with an emphasis on energy efficiency and aesthetics,
continuous improvement and integrity remain the cornerstones of
Quanex's business as it positions itself for future growth in the
building products market with a special emphasis on supplying
innovative new products to the fenestration industry.
For more information visit www.quanex.com.
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SOURCE Quanex Building Products Corporation