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
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