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Penn Engineering Announces Management Restructuring

5 August 1998

Penn Engineering Announces Management Restructuring

    DANBORO, Pa.--Aug. 5, 1998--Penn Engineering & Manufacturing Corp. has reorganized its management structure.
    Kenneth A. Swanstrom, Chairman of the Board and Chief Executive Officer, today announced the following promotions:
    Martin Bidart, 62, has been elected President and Chief Operating Officer, and a Director of the Company. Formerly Vice President, Manufacturing of the Company's fastener operation, Mr. Bidart will now be responsible for all aspects of the fastener and motor operations.
    He has been with the Company since 1990; prior to joining Penn Engineering, he spent 32 years at SPS Technologies.
    Francis P. Wilson, 58, has been promoted to Vice President, Operations. Formerly Vice President, Engineering of the Company's fastener operation, Mr. Wilson's new responsibilities include overseeing the fastener operation's Engineering and Manufacturing functions.
    He has been with the Company since June, 1997; prior to joining the Company he was Director of Engineering for the Industrial Division of Emhart Fastening Technologies, a subsidiary of Black & Decker.

    Business Summary:

    Penn Engineering & Manufacturing Corp. is the leading manufacturer of self-clinching fasteners used by the computer, datacommunications, telecommunications, general electronics, automotive, and avionics industries.
    The Company's Pittman division manufactures high performance permanent magnet dc motors used in electronics, medical, data storage, and office automation applications.