MTS Systems Corporation Announces Leadership Change in Sensors Business Unit
EDEN PRAIRIE, Minn., March 11, 2013 /PRNewswire/ -- MTS Systems Corporation (NASDAQ: MTSC), a leading global supplier of high-performance test systems and position sensors, is pleased to announce that it has hired Dr. William Bachrach as Senior Vice President, to lead the MTS Sensors Division, following the announcement by Mr. Joachim Hellwig of his retirement effective March 31, 2014. Dr. Bachrach will assume the Sensors leadership role effective March 11, 2013, with Mr. Hellwig serving in an advisory capacity through March 2014.
Dr. Bachrach joins MTS from ROAM Data, a leading mobile applications, hardware and payment gateway service provider, where he served as Chief Operating Officer. Prior to ROAM Data, Dr. Bachrach was the President of Murata Power Solutions (formerly C&D Technologies Power Systems), a subsidiary of Murata Manufacturing Company Ltd of Japan, a $180 million supplier of board mounted power and power electronics, from 2005 to 2009. Prior to that time, Dr. Bachrach held various management and business leadership positions with WAY Systems, KEMET Electronics Corporation, InphoMatch and the General Electric Company. Dr. Bachrach earned a B.S. in Mechanical Engineering from Purdue University; a Ph.D. and M.S. in Theoretical and Applied Mechanics from Northwestern University; and an M.S. in the Management of Technology from the Sloan School of Management, MIT.
Commenting on the leadership transition, Dr. Jeffrey Graves, President and CEO of MTS stated, "We congratulate Joachim on his significant contributions to MTS Sensors over his decades-long career and wish him well in his retirement. Through his efforts our leadership in magnetostrictive sensors for position sensing has been clearly established, and the business has grown from being a regional $40 million player to a global $100 million enterprise today. Looking to the future, with Dr. Bachrach's broad-ranging technology expertise, entrepreneurial spirit and extensive global experience, particularly in our fastest growing markets of Asia, I am confident that we will continue accelerating our rate of new product introductions and realize the expanding sales potential of our core markets around the world."
About MTS Systems Corporation
MTS Systems Corporation is a leading global supplier of high-performance test systems and position sensors. The Company's testing hardware and software solutions help customers accelerate and improve their design, development, and manufacturing processes and are used for determining the mechanical behavior of materials, products, and structures. MTS' high-performance position sensors provide controls for a variety of industrial and vehicular applications. MTS had 2,147 employees and revenue of $542 million for the fiscal year ended September 29, 2012. Additional information on MTS can be found on the worldwide web at http://www.mts.com.
This release contains "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. Words such as "may," "will," "should," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements.
Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are risks related to: government contracting; the Company's significant international business including but not limited to currency value fluctuations, difficulty enforcing agreements and collecting receivables, import and exporting matters, higher danger of terrorist activity, difficulty in staffing and compliance with laws; volatility in the global economy; competition; failure to achieve the Company's growth plans for the expansion of its business because the Company's long-term success depends on its ability to expand its business through new product development, mergers and acquisitions, geographic expansion and service offerings, all of which are subject to inherent risks including but not limited to market demand, market acceptance of products and our ability to advance our technology; difficulties obtaining the services of skilled employees; failure to protect its intellectual property effectively or infringement upon the intellectual property of others; product liability and commercial litigation; difficulty obtaining materials or components for its products; government regulation; the irregularity and development of sales, delivery and acceptance cycle for the Company's products; the Company's customers are in cyclical industries; interest rate fluctuations; the Company may be required to recognize impairment charges for long-lived assets; and cost, reputational and other risks associated with disclosing use of conflict minerals. For a more thorough discussion of the risks associated with our business, see the "Risk Factors" section in the Company's most recent SEC Form 10-K, 10-Q and 8-K filings. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE MTS Systems Corporation