Ampco-Pittsburgh (NYSE: AP) Announces Appointment of New Leadership for Air & Liquid Systems Corporation
20 Dezember 2021 - 10:21PM
Business Wire
Ampco-Pittsburgh Corporation (NYSE: AP) (the "Corporation" or
“Ampco-Pittsburgh”) today announced the appointment of David G.
Anderson as President of Air & Liquid Systems Corporation (“Air
& Liquid Systems”), a wholly-owned subsidiary of
Ampco-Pittsburgh, effective January 1, 2022. Mr. Anderson succeeds
Terrence W. Kenny, who has served as Air & Liquid Systems’
President since 2010 and has announced his retirement.
Brett McBrayer, Chief Executive Officer of the Corporation,
stated, “Terry’s retirement will cap more than three decades of
achievement and growth. He and his valued leadership will be
greatly missed. On behalf of the Board and the Corporation, I would
like to thank Terry for his exemplary contributions and wish him
the very best in his retirement.”
Mr. Anderson brings over 32 years of experience in finance and
operations leadership to his role at Air & Liquid Systems, most
recently serving as Vice President of Finance for Union Electric
Steel Corporation, a wholly-owned subsidiary of Ampco-Pittsburgh.
Before this position, Mr. Anderson was Vice President of Air &
Liquid Systems.
Mr. McBrayer continued, “Dave joined Air & Liquid Systems in
2010 and has served in roles of increasing responsibility. We look
forward to what Dave will bring to Air & Liquid Systems as its
President. With an experienced leadership team, Air & Liquid
Systems is poised for continued success through this
transition.”
About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation manufactures and sells highly
engineered, high-performance specialty metal products and
customized equipment utilized by industry throughout the world.
Through its operating subsidiary, Union Electric Steel Corporation,
it is a leading producer of forged and cast rolls for the global
steel and aluminum industry. It also manufactures open-die forged
products that principally are sold to customers in the steel
distribution market, oil and gas industry, and the aluminum and
plastic extrusion industries. The Corporation is also a producer of
air and liquid processing equipment, primarily custom-engineered
finned tube heat exchange coils, large custom air handling systems,
and centrifugal pumps. It operates manufacturing facilities in the
United States, England, Sweden, Slovenia, and participates in three
operating joint ventures located in China. It has sales offices in
North and South America, Asia, Europe, and the Middle East.
Corporate headquarters is located in Carnegie, Pennsylvania.
Forward-Looking
Statements
The Private Securities Litigation Reform Act of 1995 (the “Act”)
provides a safe harbor for forward-looking statements made by or on
behalf of Ampco-Pittsburgh Corporation (the “Corporation”). This
press release may include, but is not limited to, statements about
operating performance, trends, events that the Corporation expects
or anticipates will occur in the future, statements about sales and
production levels, restructurings, the impact from global pandemics
(including COVID-19), profitability and anticipated expenses,
future proceeds from the exercise of outstanding warrants, and cash
outflows. All statements in this document other than statements of
historical fact are statements that are, or could be, deemed
“forward-looking statements” within the meaning of the Act and
words such as “may,” “will,” “intend,” “believe,” “expect,”
“anticipate,” “estimate,” “project,” “forecast” and other terms of
similar meaning that indicate future events and trends are also
generally intended to identify forward-looking statements.
Forward-looking statements speak only as of the date on which such
statements are made, are not guarantees of future performance or
expectations, and involve risks and uncertainties. For the
Corporation, these risks and uncertainties include, but are not
limited to: cyclical demand for products and economic downturns;
excess global capacity in the steel industry; fluctuations of the
value of the U.S. dollar relative to other currencies; increases in
commodity prices or shortages of key production materials;
consequences of global pandemics (including COVID-19); changes in
the existing regulatory environment; new trade restrictions and
regulatory burdens associated with “Brexit”; inability of the
Corporation to successfully restructure its operations; limitations
in availability of capital to fund the Corporation’s operations and
strategic plan; inoperability of certain equipment on which the
Corporation relies; work stoppage or another industrial action on
the part of any of the Corporation’s unions; liability of the
Corporation’s subsidiaries for claims alleging personal injury from
exposure to asbestos-containing components historically used in
certain products of those subsidiaries; inability to satisfy the
continued listing requirements of the New York Stock Exchange or
NYSE American; failure to maintain an effective system of internal
control; potential attacks on information technology infrastructure
and other cyber-based business disruptions; and those discussed
more fully elsewhere in this report and in documents filed with the
Securities and Exchange Commission by the Corporation, particularly
in Item 1A, Risk Factors, in Part I of the Corporation’s latest
Annual Report on Form 10-K. The Corporation cannot guarantee any
future results, levels of activity, performance or achievements. In
addition, there may be events in the future that the Corporation
may not be able to predict accurately or control which may cause
actual results to differ materially from expectations expressed or
implied by forward-looking statements. Except as required by
applicable law, the Corporation assumes no obligation, and
disclaims any obligation, to update forward-looking statements
whether as a result of new information, events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211220005886/en/
Melanie L. Sprowson Director, Investor Relations 412-429-2454
msprowson@ampcopgh.com
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