Standex Appoints Phillip Whisman as President of Engraving Group
Seasoned Global Executive Brings 20 Years of Performance Improvement Experience
SALEM, N.H.--(BUSINESS WIRE)--Standex International Corporation (NYSE:SXI) today announced that it has named Phillip Whisman, (49), as President of the Standex Engraving Group. As President, Whisman will have overall profit and loss responsibility for all of Standex’s engraving operations worldwide. He will report to Roger Fix, Standex’s President and Chief Executive Officer.
“We are pleased to welcome an executive with Phil’s knowledge and understanding of markets important to the Engraving Group,” said Fix. “Phil brings more than 20 years of experience working for several manufacturers focused on supplying components and products to the automotive industry. His global business acumen and significant experience in managing performance improvement and growing margins will be an asset to the Engraving Group as we continue to expand and diversify our operations around the world.”
“The Standex Engraving Group has earned a global reputation as a market leader and I am proud to be joining this organization,” said Whisman. “I look forward to capitalizing on this reputation to broaden the Engraving Group’s geographic reach and diversify into new end user markets.1 There are also significant opportunities to enhance the organization’s productivity and improve margins as we continue to grow the business.1”
For 17 years, Whisman worked for TRW Inc., one of the world’s 10-largest automotive suppliers, holding roles with increasing responsibility in manufacturing and plant operations, including General Manager of Commercial Steering Systems and President of TRW Koyo Steering Systems. Whisman was also President and Chief Executive Officer of Romeo Rim, a manufacturer of painted molded products for the automotive, agriculture, construction, heavy truck and transit bus industries, and Executive Vice President of Ventra Plastics, a publicly traded Canadian manufacturer of molded and painted molded products for the automotive industry.
Whisman holds a Master of Business Administration from Vanderbilt University and a Bachelor of Science in Mechanical Engineering from the Lawrence Institute of Technology.
About Standex
Standex International Corporation is a multi-industry manufacturer in five broad business segments: Food Service Equipment Group, Air Distribution Products Group, Engineered Products Group, Engraving Group and Hydraulics Products Group with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil and China. For additional information, visit the company's website at www.standex.com.
1 Safe Harbor Language
Statements in this news release include, or may be based upon, management's current expectations, estimates and/or projections about Standex's markets and industries. These statements are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may materially differ from those indicated by such forward-looking statements as a result of certain risks, uncertainties and assumptions that are difficult to predict. Among the factors that could cause actual results to differ are uncertainty in conditions in the general domestic and international economy including more specifically increases in raw material costs, reduced capital spending by customers, and the other factors discussed in the Annual Report of Standex on Form 10-K for the fiscal year ending June 30, 2007, which is on file with the Securities and Exchange Commission, and any subsequent periodic reports filed by the company with the Securities and Exchange Commission. In addition, any forward-looking statements represent management's estimates only as of the day made and should not be relied upon as representing management's estimates as of any subsequent date. While the company may elect to update forward-looking statements at some point in the future, the company and management specifically disclaim any obligation to do so, even if management's estimates change.