MTS Systems Corporation Announces Leadership Change in Sensors Business Unit
EDEN PRAIRIE, Minn., March 11, 2013
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 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
Contact: Susan Knight, Chief Financial Officer, +1-952-937-4000
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