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Sequa Names M. Weinstein to Succeed N.E. Alexander as Chief Executive Officer

Published on 2005-01-28. Author : SpecialChem

NEW YORK -- The board of directors of Sequa Corporation (NYSE:SQAA - News) voted to elect company vice chairman, Dr. Martin Weinstein, to the additional post of chief executive officer of this diversified international manufacturer. Weinstein succeeds long-time chief executive Norman E. Alexander, who continues as an officer and executive chairman of the board of Sequa. Both remain members of the office of the chairman.

Martin Weinstein

In announcing the board's action, Mr. Alexander said, "When we formed the office of the chairman a year ago, it was with a view to this day and to the days ahead. As I step back from direct daily responsibility for the company, my time and attention are freed to focus on key strategic issues and on developing the new opportunities that will power Sequa's future growth."

Martin Weinstein, 68, joined Sequa Corporation in 1987, following the acquisition of Chromalloy American Corporation, where he had headed gas turbine operations. In 1999, he was named executive vice president of Sequa and elected to the board of directors. A scientist with a breadth of business expertise, Dr. Weinstein has served as chairman and chief executive of Chromalloy Gas Turbine Corporation (CGTC) since its formation in 1987. During his tenure at CGTC, Weinstein has successfully guided the company through the difficulties that disrupted the airline industry and has redesigned CGTC's business model to suit altered business conditions and establish a new platform for growth.

Dr. Weinstein received graduate degrees (MS, 1960, and ScD, 1961) in metallurgy from the Massachusetts Institute of Technology and an undergraduate degree (B.Met.E., 1957) from Renssleaer Polytechnic Institute. A native New Yorker, he has lived for many years in San Antonio, Texas, and will return to New York City to take up his new responsibilities.

Sequa Corporation is a $1.7 billion industrial company with a focus on technology-centered operations. The company operates through five segments: aerospace, automotive, metal coating, specialty chemicals, and other products.

This press release includes forward-looking statements that are subject to risks and uncertainties. A number of factors, including political, currency, regulatory and competitive and technological developments, could result in material differences between actual results and those outlined in any forward looking statements. For additional information, see the comments included in Sequa's filings with the Securities and Exchange Commission.

Source: Sequa Corporation


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