Newcor Announces Key Changes in Organization
16 May 2000
Newcor Announces Key Changes in Organization
BLOOMFIELD HILLS, Mich., May 16 Newcor, Inc.
(Amex: NER) announced today the reorganization of both its sales and
manufacturing operations functions by creating two new positions that will
report directly to the President and CEO.
Milton H. Roye, Jr. has been appointed to the position of Executive
Director of Sales and New Business Development. Mr. Roye will have
responsibility for all sales, marketing and product development/engineering
for both the precision machined products and the rubber and plastic segment of
Newcor's automotive and heavy truck markets. He will also have functional
involvement in product quotation, program management and the development of
strategic alliances and cooperative agreements.
Mr. Roye has served Newcor since 1997 as the Vice President for Sales and
Engineering for the Newcor Rubber and Plastic Group. Prior to joining Newcor,
he held the position of Vice President of Sales and Marketing for Chivas
Products Ltd. and prior to Chivas was with General Motors Corporation. At
General Motors, Mr. Roye held executive level positions in sales, program
management, engineering and finance. He has a Bachelor of Science degree in
Mechanical Engineering from the Massachusetts Institute of Technology and a
Master's degree in Business Administration (MBA) in General Management from
the Harvard Business School.
Ronald N. Brewer has been appointed to the position of Director of
Manufacturing. Mr. Brewer will have responsibility for a11 manufacturing
operations of the precision machined products and the rubber and plastic
segment of the company.
Mr. Brewer comes to Newcor from Bernal International where he has been the
Vice President of Operations since 1997. Prior to joining Bernal, he held
several management positions with SIEBE Automotive, Inc., the last being Vice
President of Operations. At SIEBE, Ron was responsible for five manufacturing
operations where he implemented "one piece flow" manufacturing and managed
using continuous improvement techniques. He also has extensive experience in
the selection and implementation of Enterprise Resource Planning systems. Ron
holds a Bachelor of Science degree in Industrial Engineering from the
University of Michigan and a Master's degree (MBA) in Operations Management
and Accounting from the University of Texas.
"We look forward to utilizing Ronald N. Brewer's manufacturing expertise
to further enhance the company's operating efficiencies and to allow Milton H.
Roye, Jr. to focus his energies on sales and marketing for the company. The
naming of these two key executives will be an important step in continuing to
re-position Newcor in the market place and furthering the turnaround to
profitability of the company. We look forward to utilizing their skills and
energy in continuing to grow and returning Newcor to a stable and profitable
organization," stated James J. Connor, Interim President and CEO.
Newcor is a leading manufacturer of precision machined components and
assemblies for the automotive, medium and heavy duty truck and agricultural
vehicle industries and is a manufacturer of custom rubber and plastic products
primarily for the automotive industry. Newcor is also a supplier of standard
and custom machines and systems primarily for the automotive and appliance
industries.
Cautionary Statements under the "Safe Harbor" Provisions of the Private
Securities Litigation Reform Act of 1995
This press release contains information that constitutes "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. A number of factors could cause actual results to differ materially
from those included in or suggested by such forward-looking statements,
including without limitation: the cyclical nature of the industries served by
the Company, all of which have encountered significant downturns in the past;
the level of production by and demand from the Company's principal customers,
upon which the Company is substantially dependent, including the three major
domestic automobile manufacturers, American Axle & Manufacturing, Inc.,
Detroit Diesel Corporation and Deere & Company; whether, when and to what
event expected orders materialize; whether the Company will be able to
successfully launch new programs; the impact on the Company of actions by its
competitors, some of which are significantly larger and have greater financial
and other resources than the Company; and the extent to which the Company's
new ERP computer system performs as anticipated. All forward-looking
statements in this press release are qualified by such factors. The Company
disclaims any obligation to update any such forward-looking statements.