ARC Group Worldwide, Inc. Announces New Chief Financial Officer
DELAND, Fla., Oct. 8, 2013
DELAND, Fla., Oct. 8, 2013 /PRNewswire/ --ARC Group Worldwide, Inc. (NASDAQ
Capital Market: ARCW; the "Company" or "ARC") announced the appointment of Mr.
Drew M. Kelley as the new Chief Financial Officer, replacing Norma Caceres.
Ms. Caceres will continue in a leadership capacity in the finance and
accounting department of the QMT Metal Injection Molding ("MIM") businesses.
Commenting on the changes, Mr. Jason Young, Chairman and CEO said, "We thank
Ms. Caceres for her service as CFO of ARC as we transitioned the business."
He further added, "We are very pleased to welcome Mr. Kelley to ARC. Mr.
Kelley has an excellent corporate finance and capital markets background,
having worked in leadership roles at several major Wall Street investment
banks. His background will be instrumental as we utilize acquisitions and
capital markets to fuel part of our future growth. We feel fortunate to have
Drew join us at this stage and look forward to his role in helping us build
Mr. Kelley is an accomplished investment banker and equity research analyst.
He brings a wealth of experience in equity & debt placements, mergers &
acquisitions and strategic advisory. Mr. Kelley was most recently a Senior
Vice President at Jefferies LLC, a major Wall Street investment bank. Prior
to Jefferies, he held investment banking and equity research posts at Bear,
Stearns & Co. Inc. and Merrill Lynch & Co. Mr. Kelley holds a B.A. in
Business-Economics with a Minor in Accounting from UCLA.
About ARC Group Worldwide, Inc.
ARC (www.arcgroupworldwide.net), through its operating subsidiaries AFT, AFT-H
(www.aftmim.com), QMT (www.quadrantmetals.com), ARC Wireless LLC, and ARC
Wireless Ltd. (www.antennas.com), is a global diversified manufacturer, active
in MIM, specialty hermetic seals, flanges and wireless equipment. Quadrant
Metals Technologies LLC ("QMT") is a holding company that owns a majority
interest in multiple manufacturing businesses (FloMet LLC www.flomet.com,
Tekna Seal LLC www.teknaseal.com and General Flange & Forge LLC
www.generalflange.com). ARC's mission is to bring innovation and technology
to manufacturing. ARC is focused on running both a global manufacturing
supply chain, as well as helping fuel the resurgence of manufacturing in the
ARC's MIM business is the unequivocal world leader in its market category.
ARC is focused on continuing to grow its MIM business as well as strengthen
its market position in its core manufacturing businesses in Glass-to-Metal
Seals, flanges, fittings and wireless equipment. The Company focuses on
utilizing technology and innovation, such as, automation, robotics and 3D
printing in order to help achieve its goals. ARC also seeks out vertical and
horizontal acquisitions in order to bolster its market position. In addition
to making acquisitions that are strategic to ARC's core business, the Company
evaluates new manufacturing niches that fit into its broader objectives.
This press release may contain "forward-looking" statements as defined in the
Private Securities Litigation Reform Act of 1995, which are based on ARC and
QMT's current expectations, estimates and projections about future events.
These include, but are not limited to, statements, if any, regarding business
plans and integration efforts related to the recent transactions, pro-forma
statements and financial projections, ARC and QMT's ability to expand its
services and realize growth and efficiencies through the acquisitions
discussed herein, merger-related expenses and the impact of the transaction on
ARC's earnings, market share and capital position. These statements are not
historical facts or guarantees of future performance, events or results. Such
statements involve potential risks and uncertainties, such as ARC's ability to
integrate QMT and AFT as planned and the general effects of financial,
economic, and regulatory conditions affecting our industries. Accordingly,
actual results may differ materially. Neither ARC nor QMT nor AFT undertake
any obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. For
additional factors that may affect future results, please see filings made by
ARC with the Securities and Exchange Commission ("SEC"), including its Form
10-K for the fiscal year ending June 30, 2013.
CONTACT: Mark Jeske, Investor Relations
PHONE: (303) 467-5236
SOURCE ARC Group Worldwide, Inc.
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