Bansal to Become Valmont COO
OMAHA, Neb., May 7, 2014
OMAHA, Neb., May 7, 2014 /PRNewswire/ -- Valmont Industries, Inc. (NYSE: VMI),
a leading global provider of engineered products and services for
infrastructure and mechanized irrigation equipment for agriculture, announced
today that its board of directors has promoted Vik Bansal to the newly
created position of President and Chief Operating Officer of Valmont. The
appointment is effective July 1, 2014. Bansal will become responsible for the
daily operations of Valmont and will be reporting to Mogens Bay, Valmont's
Chairman and Chief Executive Officer.
"Vik is an experienced global executive with a successful track record both at
Valmont and at prior assignments," said Mr. Bay. "He is a strategic thinker
and committed to operational excellence. He will be a key partner in growing
Valmont's global businesses."
Bansal has been Group President of Valmont's Global Engineered Infrastructure
Products segment since January 2013. Before that, he was President of
Valmont's businesses in the Asia-Pacific region residing in Sydney, Australia.
He also previously held management positions in Eaton Corporation and
Bansal holds an electrical engineering degree from N.I.T.-India, an MBA from
Deakin University in Australia and completed his advanced Management Program
Valmont is a global leader in designing and manufacturing poles, towers and
structures for lighting and traffic, wireless communication, wind energy, oil
and gas exploration applications and utility markets, industrial access
systems, highway safety barriers and a provider of protective coating
services. Valmont also leads the world in mechanized irrigation equipment for
agriculture, enhancing food production while conserving and protecting natural
water resources. In addition, Valmont produces a wide variety of tubing for
commercial and industrial applications.
This release contains forward-looking statements, within the meaning of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on assumptions that management has made in light of
experience in the industries in which Valmont operates, as well as
management's perceptions of historical trends, current conditions, expected
future developments and other factors believed to be appropriate under the
circumstances. As you read and consider this release, you should understand
that these statements are not guarantees of performance or results. They
involve risks, uncertainties (some of which are beyond Valmont's control) and
assumptions. Although management believes that these forward-looking
statements are based on reasonable assumptions, you should be aware that many
factors could affect Valmont's actual financial results and cause them to
differ materially from those anticipated in the forward-looking statements.
These factors include among other things, risk factors described from time to
time in Valmont's reports to the Securities and Exchange Commission, as well
as future economic and market circumstances, industry conditions, company
performance and financial results, operating efficiencies, availability and
price of raw material, availability and market acceptance of new products,
product pricing, domestic and international competitive environments, and
actions and policy changes of domestic and foreign governments. The Company
cautions that any forward-looking statement included in this press release is
made as of the date of this press release and the Company does not undertake
to update any forward-looking statement.
SOURCE Valmont Industries, Inc.
Contact: Jeff Laudin, 402-963-1158
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