Revstone Names Joseph M. Gray as its Chief Executive Officer

SOUTHFIELD, Mich., April 18, 2011 /PRNewswire/ -- Revstone Industries, LLC ("Revstone"), a leading manufacturer and supplier of automotive components, today announced the appointment of Joseph M. Gray as its Chief Executive Officer, effective April 18, 2011. He assumes responsibility for the Company's day-to-day operations from Interim CEO George Hofmeister, the founder of the Company, who will remain as Chairman.

Most recently, Mr. Gray served as President and CEO of Acument Global Technologies, one of the world's leading providers of metallic fasteners. As CEO, Gray was responsible for improving financial results, identifying and executing cost reductions, restructuring key aspects of the business and increasing operational efficiency.

Prior to being CEO of Acument (known as Textron Fastening Systems ("TFS") prior to its divestiture from Textron), Gray held senior leadership positions there. He joined TFS from Textron's Fluid & Power division where he was VP for integrated supply chain. Previously, he had been President of GDX Automotive and held senior executive leadership positions at Bosch Braking Systems, Peregrine, and Allied Signal Anti-Lock Braking Systems. Mr. Gray received a Bachelor of Science in Aviation Engineering from Western Michigan University and is a resident of Michigan.  

In commenting on his new position, Gray said, "I am honored to join Revstone's senior leadership team during this exciting period of growth. I look forward to working closely with the team to continue the integration of the operational assets into the Revstone portfolio, to focus on maintaining the Company's excellent customer relationships and to harness its strong operational and product strategy to continue to strengthen its competitive position. Under the guidance of George Hofmeister, Revstone has assembled a very high quality portfolio of operational assets and differentiated products, which it did with remarkable discipline and foresight. I am grateful to have the benefit of George's guidance as I take the reins of the Company that he built. I am excited to lead Revstone and its impressive team, execute its strategic and operational plan and meet the needs of our customers."

George Hofmeister, Chairman and former Interim CEO of Revstone commented, "It is with great pleasure that I welcome Joe to Revstone. His executive leadership experience, his focus on operational efficiency and management accountability, his extensive background in the automotive component industry and his deep understanding of the dynamics of domestic and international strategy make him ideal to take over as the CEO of Revstone. Additionally, the fact that he and Revstone's CFO, Janice [Stipp] have previously worked together as CEO and CFO when they were at Acument will ensure Joe's swift integration into Revstone's world class leadership team. The growth that we have begun to experience, and which we expect to continue, requires the exceptional leadership that Joe brings. I am delighted that he is joining the Company and leading Revstone through the next stages of its development."

About Revstone Industries

Revstone is a leading designer, manufacturer and supplier of highly engineered automotive components, with thirty nine facilities in the United States, Canada, Mexico and Costa Rica, approximately four thousand employees and more than $700m in projected 2011 annual revenue. The Company is headquartered in metropolitan Detroit, Michigan with offices in Lexington, Kentucky and China. For more information visit www.revstone.com.

SOURCE Revstone Industries, LLC