FOOTHILL RANCH, Calif., April 7, 2009 (GLOBE NEWSWIRE) -- Kaiser Aluminum Corporation (Nasdaq:KALU) today announced a reorganization of operations management to streamline the management structure for the Fabricated Products business with Peter Bunin assuming expanded responsibilities as Vice President, General Manager - Operations, a position focused on driving continued improvement in operating efficiencies throughout the organization. In his expanded role Bunin will oversee all Fabricated Products manufacturing operations including the company's investment in the Kalamazoo, Mich. facility, which is anticipated to be fully operational in early 2010.
In conjunction with the reorganization, Martin Carter, Vice President and General Manager of Common Alloy Products, will be leaving the company to pursue other opportunities. "We thank Martin for his many contributions to the company, and we wish him well in his future endeavors," said Jack A. Hockema, President, CEO and Chairman of Kaiser Aluminum.
Mr. Bunin most recently held the position of Vice President and General Manager of Heat Treat Products. He joined Kaiser Aluminum in 1996 as Vice President and General Manager of Raw Materials for Engineered Products. Before that, he held senior management positions with Ampco Metals and Outokumpu Copper. Bunin holds a Master of Business Administration degree from the Harvard University Graduate School of Business and a Bachelor of Science degree in mechanical engineering from the Massachusetts Institute of Technology.
"We are delighted to have Pete take on this expanded leadership role," said Mr. Hockema. "He has led the transformation of our Heat Treat expansion program over the past several years, and has successfully transformed the operation into a leading, low-cost manufacturer that is extremely well positioned to compete in today's environment. In addition, given Pete's more than 20 years of metals industry experience and history of operational success, he is a logical choice to oversee the Fabricated Products programs in order for the company to continue being the supplier of choice and a leading low-cost producer, while also driving growth."
Kaiser Aluminum, headquartered in Foothill Ranch, Calif., is a leading producer of fabricated aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The company's North American facilities produce value-added sheet, plate, extrusions, forgings, rod, bar and tube products, adhering to traditions of quality, innovation and service that have been key components of our culture since the company was founded in 1946. The company's stock is included in the Russell 2000(r) index. For more information, please visit www.kaiseraluminum.com.
This press release contains statements based on management's current expectations, estimates and projections that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks and uncertainties that may cause actual results, performance or achievements of the company to be materially different from those expressed or implied. These factors include: (a) the effectiveness of management's strategies and decisions; (b) adverse changes in economic or aluminum industry conditions generally, including the market segments served by the company, including the aerospace, defense, general engineering, automotive, distribution and other market segments; (c) the company's ability to continue to effectively implement its capital spending and investment programs; (d) changes in competitive factors in the markets served by the company; (e) the company's ability to reduce costs and effectively manage the reorganization of changes contemplated; and (f) other risk factors summarized in the company's reports filed with the Securities and Exchange Commission, including the company's Form 10-K for the year ended December 31, 2008. All information in this release is as of the date of the release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.