In an effort to better focus on international growth and seize
new Process business opportunities,
Graco Inc.
(
GGG
) recently expanded its management team.
Graco announced management changes in its process division, which
will be effective from January 1, 2013. The current Business
Development Director for the Industrial Products Division (IPD),
Mark Eberlein, will become the new Vice President and General
Manager for the Process Division. Additionally, Bernard Moreau,
the current Director of sales and marketing for Graco's IPD and
Applied Fluid Technologies Division (AFTD) in Europe, will hold
the position of the company's first Vice President and General
Manager for South and Central America.
The company also announced that Simon Paulis, Vice President and
General Manager for the Europe, Middle East and Africa (EMEA)
region, will retire at the end of fiscal year 2012 and will be
succeeded by Jeffrey Johnson, the current Vice President and
General Manager for the Asia-Pacific region. Additionally, Peter
O'Shea, the current director of Sales and Marketing will for
Graco's IPD business in Asia Pacific will succeed Johnson and
will hold the office of Vice President and General Manager, Asia
Pacific. Also, David M. Lowe will be promoted to the Executive
Vice President position of the Industrial Products Division.
The strategic move by Graco is aimed at delivering long-term
growth and enhancing international sales in the emerging
economies of South and Central America. The company expects that
new management's vast know-how and expertise should prove
beneficial in the long term. It should enable the company to
reach new heights with respect to ongoing services and portfolio
expansions.
Headquartered in Minneapolis, Minnesota, Graco supplies
technology for management of fluids in both industrial and
commercial applications. The company designs, manufactures,
and markets systems that move, measure, control, dispense, and
apply fluid materials. Its products are used for the application
of paints and coatings, for the high-pressure cleaning of
equipment, and for the lubrication and maintenance of vehicles
and other equipments.
Graco currently has a Zacks #4 Rank, which translates into a
short-term Sell rating. We have a long-term Underperform
recommendation on the stock. One of its competitors,
IDEX Corporation
(
IEX
) carries a Zacks #3 Rank, which translates into a short-term
Hold rating.
GRACO INC (GGG): Free Stock Analysis Report
IDEX CORP (IEX): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment
Research