GREENVILLE, S.C., May 6, 2013 /PRNewswire/ -- JPS Industries, Inc. (JPST.PK) today announced the appointment of Mikel H. Williams (56) as chief executive officer and president of the company, effective May 2, 2013. He succeeds Michael Fulbright, who resigned from his post on April 30, 2013. Mr. Williams most recently served as president, CEO and a director of DDi Corporation, a leading provider of time-critical, technologically advanced electronics manufacturing services, from November 2005 until the sale of the company in May 2012. In addition to his experience in the electronics manufacturing industry, Mr. Williams also has served in senior executive roles in the telecommunications and services industries.
In addition, JPS announced that Jack L. Howard (51) has been appointed to serve as chairman of the company's board of directors. Mr. Howard is the president of Steel Partners Holdings L.P., which, together with its affiliates, owns a 39.3% interest in JPS. Both Mr. Howard and Mr. Williams were recently elected to the company's board of directors at the April 30, 2013 JPS Annual Meeting of Shareholders. Also elected as directors at the Annual Meeting were Alan B. Howe, John J. Quicke and Robert J. Capozzi.
About JPS Industries, Inc.
JPS Industries, Inc. is a major U.S. manufacturer of extruded urethane film, sheet and tubing, ethylene vinyl acetate film and sheet and mechanically formed glass and aramid substrate materials for specialty applications in a wide expanse of markets requiring highly engineered components. JPS's products are used in a wide range of applications including: printed electronic circuit boards; advanced composite materials; civilian and military aerospace components; filtration and insulation products; specialty commercial construction substrates; high performance glass laminates for security and transportation applications; photovoltaic solar modules; paint protection films; plasma display screens; medical, automotive and industrial components; and soft body armor for civilian and military applications. Headquartered in Greenville, South Carolina, the Company operates four manufacturing locations in Anderson and Slater, South Carolina; Statesville, North Carolina; and Easthampton, Massachusetts.
This press release contains statements that are forward-looking statements regarding future events. These statements are only predictions and there are a number of important factors that could cause future events to differ materially from those expressed in any such forward-looking statements. These factors include, without limitation, the general economic and business conditions affecting the Company's industries, actions of competitors, changes in demand in certain markets, the Company's ability to meet its debt service and pension plan obligations (including its ability to meet the financial obligations in its Credit Agreement), the Company's ability to realize its deferred tax asset, the seasonality of the Company's sales, the volatility of the Company's raw material, claims and energy costs, the Company's dependence on key personnel and certain large customers and other risk factors. The Company assumes no responsibility to update the forward-looking statements contained in this release as a result of new information, future events or otherwise. JPS Industries, Inc. is not responsible for changes made to this document by wire services or Internet Services.
Contact: Charles R. Tutterow
Executive Vice President and Chief Financial Officer
SOURCE JPS Industries, Inc.