Released: September 15th, 2008
Meridian Lightweight Technologies Inc. (“Meridian”) announced today that Eric Showalter has joined the company as President and CEO. Mr. Showalter has an extensive and illustrious career in the automotive die casting industry. Eric was most recently employed as the President and CEO of ICG Castings Inc. Prior to ICG, Mr. Showalter held the position of President Intermet Die Cast Group, Intermet Corporation. While employed at Intermet Mr. Showalter served in various progressive capacities including Vice President and Corporate Officer, Director of Corporate Strategic Planning, Director of China Activities, Director of Advanced Manufacturing and Director of Engineering. Prior to joining Intermet, Eric was employed by JL French Automotive Castings. Mr. Showalter is a graduate of the Ross School of Business at the University of Michigan holding a Master of Business Administration Degree. He also holds a Bachelor of Science in Mechanical Engineering Degree from Bradley University, Peoria, Illinois. Mr. Showalter will succeed Robert M. Caruso of Alvarez & Marsal who had been acting as Interim President and CEO following Meridian's successful restructuring. Mr. Caruso will remain on the Board of Meridian and will assist with Eric's transition.
Richard E. Newsted, Chairman of the Board of Meridian stated, “We are extremely pleased to welcome Eric as our President and CEO. His extensive global automotive die casting experience, commitment and leadership will assist and strengthen our management team in its pursuit of global strategic initiatives and profitable growth.”
About Meridian Lightweight Technologies Inc.
Meridian Lightweight Technologies Inc. is the largest supplier of lightweight magnesium die castings in the world, serving most of the global automotive manufacturers in three continents with more than 1,200 dedicated employees. Meridian lightweight applications allow vehicle buyers to save an estimated 17 million liters of fuel annually and reduce emissions by 55,000 metric tons of carbon dioxide per year. For more than 25 years, Meridian has been aggressively seeking new and progressive ways to raise the bar on magnesium die casting design and manufacturing, securing its position as the leader in the industry.