Aldila names Peter R. Mathewson president of Aldila Golf; Ed Abrain resigns to join Titleist Golf
SAN DIEGO (Jan. 7) BUSINESS WIRE -Jan. 7, 1997--Aldila, Inc.,
(NASDAQ/NMS: ALDA), the nation's foremost manufacturer of graphite golf
club shafts, today announced that Peter R. Mathewson has been named
President of Aldila Golf, and has also been elected a Director of Aldila,
Inc.
As President of Aldila Golf, Aldila's core golf operation, Mr. Mathewson
assumes the responsibilities of Edmond S. Abrain, who has resigned as
President, Chief Operating Officer and a Director of Aldila, Inc. to
join Titleist Golf.
Mr. Mathewson has been Vice President, Manufacturing since 1990. He
joined the company in 1973 and has held several manufacturing managerial
positions since then.
"Pete Mathewson's long involvement in Aldila's growth has earned him a
position of high regard and respect among our customers and suppliers
and within the company," said Gary T. Barbera, Aldila's Chairman and
Chief Executive Officer. "His participation in the expansion of our
operations in San Diego and Poway, CA, and Tijuana, Mexico, and in the
development of our new facility in Zhuhai, China, has contributed
immeasurably to the leadership position our company holds today in the
golf industry."
Mr. Barbera added, "Aldila has benefited from Ed's broad industry
perspective and contributions toward defining and articulating our
growth strategy and to the development of our materials and processing
technologies. We wish him continued success in his future endeavors."
Mr. Abrain joined Aldila, Inc. in January 1996 as President and Chief
Operating Officer and was elected a Director in March. "The decision to
leave Aldila was a difficult one," Mr. Abrain said. "I have always
had great respect for Aldila's leadership role in the graphite golf
shaft market, and the opportunity to work closely with the Aldila team
and to share in their successes the past year has been tremendously
satisfying."
Aldila designs, manufactures and markets graphite golf shafts used in
clubs assembled and manufactured throughout the world by the leading
golf club companies, as well as pro shops, club shops and repair shops.
The company embarked on a program of vertical integration in 1994 to
manufacture the graphite prepreg material for its golf shaft production
and now internally supplies virtually all of its material requirements.
In November 1996, the company announced plans to construct a 50,000
square foot facility for the manufacture of carbon fiber, a key
component used in the manufacture of its golf shafts. Startup is
scheduled to begin in the first half of 1998. -0- NOTE: This release
contains forward-looking statements based on management's expectations
as of the date hereof that necessarily contain assumptions and are
subject to certain risks and uncertainties. The Company does not
undertake any responsibility to update these statements in the future.
The Company's actual future activities could differ from those contained
in or suggested by these forward-looking statements as a result of the
factors set forth in this release and in the Company's latest filings
with the Securities and Exchange Commission, including its Report on
Form 8-K dated November 25, 1996.
Aldila, Inc., (619) 592-0404 |
