Sandvik to acquire PCD tools manufacturer Frezite; Liebherr-Aerospace & Transportation changes management; DEC acquires EPI; Primus Aerospace acquires Raloid Corp.; Appointments.
H. Lawrence Culp, Jr. has been named GE Aviation CEO, in addition to his current role as chairman and CEO of GE. John Slattery, current president and CEO of GE Aviation, has been named executive vice president and chief commercial officer of the business.
Russell Stokes, current senior vice president, GE and president & CEO, GE Aviation Services, has been named president and CEO, Commercial Engines and Services, with expanded operational responsibility.
Rahul Ghai, executive vice president and CFO of Otis Worldwide Corp. has been named CFO of GE Aviation as Shane Wright, current CFO and COO of GE Aviation, prepares to retire after 34 years of service to GE.
Slattery, Stokes, and Ghai report directly to Culp.
The leadership changes follow GE’s Nov. 9, 2021, announced plan to separate GE into three independent companies focused on the growth sectors of aviation, healthcare, and energy.
“GE Aviation is an exceptional business in growing commercial and military sectors that are shaping the future of flight. There is tremendous opportunity in aviation over the coming years, and the Board and I decided it is the right time for me to take on this expanded role and work even more closely with the team to support our customers, meet the unprecedented demand ramp, and prepare for GE Aviation’s future as an independent public company,” Culp said.
Slattery led GE Aviation for the past two years.
Stokes has more than 25 years of GE experience, including nine years at GE Aviation. Stokes re-joined GE Aviation in 2020 following executive leadership roles across multiple GE divisions. He leads commercial equipment and services, the largest business segment within Aviation.
Ghai will start as CFO of GE Aviation in August; Wright will ensure a smooth transition and retire later this year.
Prior to Otis, the former United Technologies Corp. division, Ghai was senior vice president and CFO of Harris Corp., where he played a role in the $40 billion merger with L3 Corp.
Sandvik Group is acquiring Trofa, Portugal-based company Frezigest SGPS (Frezite). The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions. Frezite’s offering primarily consists of made-to-order polycrystalline diamond (PCD) tools, with exposure to the automotive, general engineering, and aerospace segments.
“We have a clear ambition for our machining solutions business to increase our presence and strengthen our expertise in PCD tooling for lightweight materials,” says Sandvik President and CEO Stefan Widing.
Frezite’s competence and offering of clamping and fixtures solutions allow Walter to offer turnkey solutions earlier in customers’ value chain.
Frezite, founded in 1978, has around 450 employees. The parties didn’t disclose the purchase price. The transaction is expected to close during Q3 2022 and is subject to customary closing conditions.
The composition of the board of Liebherr’s aerospace & transportation division is changing. The chief commercial officer and chief services officer are combined under the responsibility of a chief customer officer. Alex Vlielander takes over as chief customer officer, replacing Nicolas Bonleux, the previous chief commercial officer.
The Boards of Management of Liebherr-Aerospace Lindenberg GmbH and Liebherr-Aerospace Toulouse SAS are changing in line, with creation of a managing director position in charge of the commercial domain covering original equipment sales, customer service, and program management.
Douglas Electrical Components (DEC) has acquired Electronic Products Inc. (EPI). Established in 1960 and headquartered in Newburyport, Massachusetts, EPI designs and manufactures ceramic and glass-to-metal hermetic packaging solutions for space, aerospace and defense, and high-reliability applications. EPI will continue to be led by the existing management team.
Hiroyuki “Roy” Kawakami was promoted to president of Mitsui Seiki Kogyo Ltd., the parent company of Mitsui Seiki USA Inc. Kawakami has served Mitsui Seiki for more than 40 years. He advanced through the company in sales and management positions at the U.S. subsidiary including vice president in 1994 and chairman in 2003.
Ceratizit USA Inc. named Scott P. Walrath head of business development for the solid round tools division. Walrath brings 39 years of management, sales, and product development experience to the position.
Mary Bopp was promoted to marketing supervisor at Mitsubishi Corp. subsidiary MC Machinery Systems Inc., which supplies and services fabrication and milling equipment from its headquarters in Elk Grove Village, Illinois.
Robinson+Cole Manufacturing and Aerospace Supply Chain Team Chair Jeff White was appointed to the Industry Trade Advisory Committee on Aerospace Equipment (ITAC 1). U.S. Secretary of Commerce Gina M. Raimondo and U.S. Trade Representative Katherine C. Tai selected White to represent The Lee Co., a manufacturer of miniature fluid control products, and a group of 14 members of the U.S. aerospace and defense manufacturing industry. White will serve a four-year term expiring in 2026.
White also serves on the board of directors of trade organizations focused on manufacturing and aerospace issues, including the national board of directors of Women in Manufacturing, ManufactureCT, the Connecticut Business & Industry Association (CBIA), and the New England Air Museum.
United Grinding North America Inc. is partnering with Concept Machine Tool, which serves manufacturing companies in Minnesota, North Dakota, South Dakota, Iowa, Nebraska, and Wisconsin, adding CNC grinding to its machining solutions.
Lakewood, Colorado-based Primus Aerospace, a provider of complex, machined components and assembly solutions, sponsored by Angeles Equity Partners LLC, acquired Raloid Corp., which machines critical components for several strategic defense programs. Raloid, based in Reisterstown, Maryland, will operate under its existing brand name. Financial terms of the transaction were not disclosed.
Raloid’s proficiency with exotic and hard metals enables manufacturing of high-complexity, tight-tolerance components and subassemblies for Raytheon, Lockheed Martin, and other defense contractors.