31.05.2005 14:17:00
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Spartech Streamlines Operating Structure With Three New Vice Presidents
ST. LOUIS, May 31 /PRNewswire-FirstCall/ -- Spartech Corporation today announced the promotion of three new operating vice presidents who will have management responsibility for approximately 90% of the company's operating facilities and 95% of Spartech's annual revenue.
"These new responsibilities given to three of our most experienced operating managers puts more decision-making authority where it needs to be -- closer to the operations and the customer," said George A. Abd, President and Chief Executive Officer. "Spartech's strength is its ability to respond quickly to challenges, and we believe our response time will now be even faster and more effective."
The new vice presidents are:
David J. Gorenc, 48, Vice President-Spartech Plastics, will have responsibility for Spartech's Custom Sheet & Rollstock operations in the Northern and Eastern divisions of the U.S. as well as Spartech Plastics Canada. Mr. Gorenc joined Spartech in 1999 with the company's Alltrista Plastics acquisition. Most recently, he was general manager for the Northern Division and had been business manager for Spartech's Muncie and Warsaw, Ind., facilities. Mr. Gorenc is a graduate of the U.S. Military Academy and received an MBA from Georgia State University.
Greg S. Nagel, 46, Vice President-Spartech Plastics, will have responsibility for Spartech's Custom Sheet & Rollstock operations in the Central and Western divisions of the U.S. as well as Spartech Polycast and Spartech Townsend's acrylic rod and tube business. Mr. Nagel joined Spartech in 1988 as controller of the Central Division and most recently served as general manager of that territory. He is a graduate of the University of Missouri-St. Louis.
Scott A. Morford, 41, Vice President-Spartech Polycom, will have responsibility for all of Spartech's Color & Specialty Compounds operations including Spartech Polycom, Spartech Color and Spartech PEP as well as Spartech Europe. Mr. Morford began his career with Spartech in 1986 and has steadily progressed through a series of technical, operational and managerial roles, most recently as general manager of Spartech Polycom. Mr. Morford is a graduate of the University of Michigan.
"With their deep experience in the plastics industry, these three individuals will lead operational improvements such as our Lean Manufacturing initiatives and respond quickly to changing customer needs," Abd said. "Our evolving organizational structure also enhances our ability to leverage internal growth strategies and to maximize the synergies of past and future acquisitions."
Spartech Corporation is a leading producer of engineered thermoplastic materials, polymeric compounds, and molded & profile products, which following its recently announced plant restructuring plan, will have 43 facilities located throughout the United States, Canada, Mexico, and Europe, with annual production capacity of more than 1.4 billion pounds and sales of approximately $1.2 billion, annually.
Safe Harbor For Forward-Looking Statements
Statements contained herein which are not historical facts are forward- looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 which are intended to be covered by the safe harbors created thereby. For a summary of important facts, which could cause the Company's actual results to differ materially from those included in, or inferred by, the forward-looking statements, refer to the Company's Form 10-K for the fiscal year ended October 30, 2004, which is on file with the Securities and Exchange Commission.
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