(PR NEWSWIRE) Pacific Aerospace & Electronics Appoints Werner Hafelfinger
Pacific Aerospace & Electronics Appoints Werner Hafelfinger as Vice President
Operations
WENATCHEE, Wash., Feb. 25 /PRNewswire/ -- Pacific Aerospace & Electronics,
Inc. (Nasdaq: PCTH) announced today that Werner Hafelfinger will join the
Company, effective March 8th, as Vice President Operations. Mr. Hafelfinger
will be responsible for operations of the Company's U.S and European Aerospace
Groups and its Electronics Group.
Mr. Hafelfinger has over twenty years of experience in product development
and international operations management at high technology manufacturing
companies, with a focus on advanced engineering and material sciences. Most
recently, he was Vice President of Global Manufacturing for St. Jude Medical's
Pacesetter division. During his fifteen years at St. Jude, Mr. Hafelfinger
successfully managed the establishment of several startup companies and was
instrumental in successfully integrating a number of acquired companies. Mr.
Hafelfinger earned his undergraduate degree in Switzerland and holds a Masters
of Science degree in Engineering from Columbia University.
Don Wright, President and CEO of Pacific Aerospace & Electronics, said:
"We are pleased to welcome Werner Hafelfinger to the Company's corporate
management team. Mr. Hafelfinger has been on our Board since last August.
During that time, he has been actively involved working with management and
has demonstrated his strong skills both in operations and in understanding and
adding value to our technologies. He has managed manufacturing facilities in
both the U.S. and Europe, and he brings with him multi-national experience
that will be essential as the Company expands its operations and markets
internationally. We will look to Mr. Hafelfinger not only to lead our
operating groups but also to utilize his extensive experience in assessing the
value, strengths and weaknesses of companies and consolidating and integrating
companies' operations to help the Company as it grows and integrates its
present and future operations. Adding Mr. Hafelfinger to the team is the next
step in pursuing the Company's mission of creating a globally marketed,
versatile and profitable group of world-class manufacturing companies and
becoming a world leader in producing quality products utilizing advanced
materials technologies."
Mr. Hafelfinger said: "I am very excited about the Company and this
opportunity. Pacific Aerospace & Electronics has an unwavering commitment to
its customers, employees, quality, and technology. It is a fast growing
company, which I believe has a strong future. My first task will be to begin
working with the Company's operating groups to take advantage of the many
synergies that I see and to achieve operational efficiencies between the
groups."
Pacific Aerospace & Electronics, Inc. is a diversified, international
manufacturing company that develops, manufactures and markets high-performance
electronics and metal components and assemblies for the aerospace, defense,
electronics and transportation industries. The Company's primary businesses
are organized into three operational and marketing units. The Electronics
Group develops, manufactures and sells a broad range of precision components,
filtering devices, electronic assemblies, and explosively bonded materials
designed to operate with a high degree of reliability in harsh environments
such as the ocean, space and the human body. The Aerospace Group provides
machined and cast aluminum and metal parts and component assemblies for
commercial and military aircraft, heavy trucking and automotive uses,
primarily in the United States. The Aeromet Group provides magnesium and
aluminum precision cast parts and formed titanium and aluminum sheet products
to the aerospace, defense and motorsport industries, primarily in Europe.
The Company's common stock trades on the Nasdaq National Market System
under the symbol "PCTH", and its warrants trade under the symbol "PCTHW".
Forward-looking statements in this release concerning trends or
anticipated operating results are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are not guarantees of future performance and are
subject to risks and uncertainties related to the Company's operations. These
risks and uncertainties include, but are not limited to, competitive factors
(including the possibility of increased competition or technological
development, competitors, and price pressures); legal factors (such as limited
protection of the Company's proprietary technology and changes in government
regulation); and the Company's dependence on key personnel and significant
customers.
SOURCE Pacific Aerospace & Electronics, Inc.
-0- 02/25/99
/CONTACT: Donald A. Wright, President/CEO, or Nick A. Gerde, Vice
President Finance/CFO of Pacific Aerospace & Electronics, Inc., 509-667-9600,
or fax, 509-667-9696/
(PCTH)
CO: Pacific Aerospace & Electronics, Inc.
ST: Washington |
