ARC Group Worldwide announces new interim CEO and Board Member

July 3, 2017

ARC Group Worldwide announces new interim CEO and Board Member

An MPIF award winning MIM part produced by ARC Group Worldwide (Courtesy MPIF)

 

ARC Group Worldwide, Inc, Deland, Florida, USA, a key global provider of Metal Injection Moulding and metal Additive Manufacturing solutions, has announced the appointment of Drew M Kelley to Interim Chief Executive Officer and Board Member, effective July 1, 2017. Kelley replaces Jason T Young, who is leaving his position with the company and the board to pursue other interests.

Kelley has served as ARC’s Chief Financial Officer since October 2013. Prior to joining the company, he was an investment banker and equity research analyst. “I appreciate the confidence the Board has placed in me and look forward to working with the entire ARC organisation as we establish and implement initiatives designed to improve operational efficiency, increase financial profitability, and create a stronger balance sheet,” he stated.

“Due to poor decisions and execution by the company over the past several months, ARC will evaluate all aspects of our business and consider, where appropriate, non-cash write-offs in order to put these matters behind us as we enter our new fiscal year this July. To that end, we have already initiated a robust review of our cost structure across all business units, and have, with the board’s approval, completed operational adjustments and other measures necessary to achieve these established objectives. Overall, I am confident this process will create a more fiscally disciplined company, while at the same time improving service to our customers and strengthening our leading role within the advanced manufacturing sector.”

Alan G Quasha, ARC’s Chairman of the Board, commented, “We thank Mr Young for his service as CEO of ARC and wish him success as he pursues other opportunities. In connection with these leadership changes, the company will refocus its efforts to build upon its core capabilities of Metal Injection Moulding and metal Additive Manufacturing. I am confident that through these initiatives we can improve the Company’s profitability and cash flow generation, as well as reduce our debt obligations to our targeted ratio of two times debt to EBITDA.”

www.arcgroupworldwide.com

Powder Injection Moulding International magazine

In the latest issue of PIM International…

Download PDF

Extensive MIM, CIM industry and sinter-based AM industry news, plus the following exclusive deep-dive articles and reports:

  • Frank Petzoldt on the past, present and future of MIM
  • Saturation in metal Binder Jetting
  • Insights from the 2022 International Conference on Injection Molding of Metals, Ceramics and Carbides
  • Additive Manufacturing at CeramTec
  • The carbon footprint of injection moulding machines
  • Calculating the sintering shrinkage of MIM parts

The latest news from the MIM, CIM and sinter-based AM industries

Don't miss any new issue of PIM International, and stay up to date with the latest industry news. Sign up to our fortnightly newsletter.

Sign up

News from the industry…

    Discover our magazine archive…

    The free-to-access PIM International magazine archive offers unparalleled insight into the world of MIM, CIM and sinter-based AM from a commercial and technological perspective through:

    • Reports on visits to leading part manufacturers and industry suppliers
    • Articles on technology and application trends
    • Information on materials developments
    • Reviews of key technical presentations from the international conference circuit
    • International industry news

    All past issues are available to download as free PDFs or view in your browser.

     

    Browse the archive

     

    Looking for suppliers of materials, production equipment and finished MIM, CIM or sinter-based AM parts?

    Discover suppliers of these and more in our advertisers’ index and buyer’s guide, available in the back of PIM International.

    • Metal powders
    • MIM, CIM & AM parts producers
    • Binders & feedstocks
    • Feedstock mixers
    • Furnaces & furnace supplies
    • Atmospheres & gas generation
    • HIP systems & services
    • Injection moulding machines
    • AM technology
    • Debinding systems
    Download PDF
    Share via
    Copy link
    Powered by Social Snap