Attached files
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8-K - FORM 8-K - LMI AEROSPACE INC | c60849e8vk.htm |
EX-10.1 - EX-10.1 - LMI AEROSPACE INC | c60849exv10w1.htm |
Exhibit 99.1
Contact: | ||
Ed Dickinson | ||
Chief Financial Officer, 636.916.2150 |
FOR IMMEDIATE RELEASE
RICHARD L. JOHNSON NAMED PRESIDENT OF D3 TECHNOLOGIES INC.,
A SUBSIDIARY OF LMI AEROSPACE, INC.
A SUBSIDIARY OF LMI AEROSPACE, INC.
ST. LOUIS, October 21, 2010 LMI Aerospace, Inc. (NASDAQ: LMIA), a leading provider of
design engineering services, structural components, assemblies and kits to the aerospace, defense
and technology industries, today announced the appointment of Richard L. Johnson as President of D3
Technologies Inc. (D3), a wholly owned subsidiary of LMI Aerospace, Inc. (LMI), effective as of
November 1, 2010.
Mr. Johnson, age 60, has served in various executive and managerial positions with Gulfstream
Aerospace Corporation. In 1997 he was appointed Vice President, Chief Engineer; in 2003, Vice
President, Engineering; and in 2009, Vice President, Chief Scientist. During peak periods Mr.
Johnson was responsible for approximately 1,050 engineers, working on new product development,
sustaining engineering on existing products, and providing service engineering support for legacy
products. Major programs included the G350/450, G500/550 and G650. His most recent
responsibilities included directing advancements in design, materials, systems and cockpit
technologies. Mr. Johnson has a BS in Aerospace Engineering from the University of Cincinnati.
Dick is a great addition to the D3 and LMI team, said Ron Saks, Chief Executive Officer of
LMI. As LMI increases its focus on providing integrated design and build services to our
customers, and D3 continues to grow its legacy engineering
-more-
LMI Aerospace Announces
Johnson To Lead D3 Technologies
Page 2
Johnson To Lead D3 Technologies
Page 2
services business, Dicks technical expertise along with his experience in engineering operations
and management, especially the project management of large, complex programs, will allow D3 and LMI
to strengthen their position in the aerospace market.
Ryan Bogan, D3s current President and Chief Executive Officer, shall continue in his capacity
of Chief Executive Officer of D3. Mr. Bogan will transition the responsibility for D3s
day-to-day operations to Mr. Johnson and, as of January 1, 2011, he will take a sabbatical for
approximately one year to complete his Masters of Business Administration degree. During his
sabbatical, Mr. Bogan will continue to provide consultation on key policy, strategic and management
decisions to Mr. Johnson, but the Company intends that Mr. Johnson will have responsibility for the
operations of D3 and will report directly to Mr. Saks. Additionally, Mr. Bogan will continue to
consult with Mr. Saks and the LMI Board of Directors on matters of significant importance to D3 and
LMI.
Dick and Ryan are committed to working closely together to ensure a seamless transition of
D3s day-to day management and will collaborate on our strategic initiatives to grow D3 organically
and through acquisitions. As President of D3, Dick will be instrumental to the implementation of
the Companys strategic plan to expand its design/build capabilities and support research and
development efforts while Ryan will provide assistance with D3s overall strategic issues, said
Mr. Saks. The Company believes that investing in Ryans education will enhance his leadership and
management skills, better equipping LMI to grow its business and meet future challenges.
LMI Aerospace, Inc. is a leading provider of design engineering services, structural
components, assemblies and kits to the aerospace, defense and technology industries. Through its
Aerostructures segment, the company primarily fabricates, machines, finishes and integrates formed,
close-tolerance aluminum and specialty alloy components and sheet-metal products, for large
commercial, corporate and military aircraft. It manufactures more than 30,000 products for integration into a variety of
aircraft platforms manufactured by leading original equipment manufacturers and Tier 1
-more-
LMI Aerospace Announces
Johnson To Lead D3 Technologies
Page 3
Johnson To Lead D3 Technologies
Page 3
aerospace suppliers. Through its Engineering Services segment, operated by its D3 Technologies
Inc. subsidiary, the company provides a complete range of design,
engineering and program management services, supporting aircraft lifecycles from conceptual design,
analysis and certification through production support, fleet support and service-life extensions.
This news release includes forward-looking statements related to LMI Aerospace, Inc.s,
outlook for 2010 and beyond, which are based on current management expectations. Such
forward-looking statements are subject to various risks and uncertainties, many of which are beyond
the control of LMI Aerospace, Inc. Actual results could differ materially from the forward-looking
statements as a result of, among other things, the factors detailed from time to time in LMI
Aerospace, Inc.s filings with the Securities and Exchange Commission. Please refer to the Risk
Factors contained in the companys Annual Report on Form 10-K for the year ended December 31, 2009,
and any risk factors set forth in our other subsequent filings with the Securities and Exchange
Commission.
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