ELMIRA, N.Y., Dec. 12, 2013 (GLOBE NEWSWIRE) -- Hardinge Inc. (Nasdaq: HDNG ), a leading international provider of advanced metal-cutting solutions, announced that its Board of Directors at its meeting on December 10, 2013, appointed Douglas J. Malone as Vice President & Chief Financial Officer and Edward J. Gaio as Vice President, Business Development. Mr. Malone and Mr. Gaio will both report to Richard L. Simons, Chairman, President & Chief Executive Officer. The appointments are effective immediately.
Mr Simons commented, "I look forward to Doug's participation in the senior leadership team at Hardinge. I believe that his depth of knowledge in accounting and finance, as well as his international experience with our operations, when combined with his energy and leadership skills will serve us well in his new position.
Importantly, given the size and international scope of our recent acquisitions as well as our plans for continued growth, both organically and through acquisitions, we found a need to have someone dedicated to acquisition integration as well as identification and analysis of strategic opportunities. Ed's operational and financial background, his knowledge of our company, and his proven ability to manage acquisitions from start to finish qualifies him as the right person for this role," Mr. Simons concluded.
Mr. Malone joined Hardinge in 2008 as Corporate Controller. Prior to joining Hardinge, he served as Senior Vice President Financial Planning and Analysis for Financial Institutions' Five Star Bank from 2005 to 2008 and previous to that as Senior Vice President Finance and Operations for a former subsidiary bank of the company. Mr. Malone, a Certified Public Accountant, began his career with KPMG, LLP after earning his degree in accounting from St. John Fisher College.
Mr. Gaio joined Hardinge in 2006 as Corporate Controller and became Vice President & CFO in 2008. Previously, he served as Vice President, Finance of Agilysys, Inc. He earned a B.S. in accounting from the University of Steubenville and an M.B.A. from Cleveland State University.
About Hardinge
Hardinge is a leading global designer and manufacturer of high precision, computer-controlled machine tool solutions developed for critical, hard to machine metal parts and of technologically advanced workholding accessories. The Company's strategy is to leverage its global brand strength to further penetrate global market opportunities where customers will benefit from the technologically advanced, high-quality, reliable products Hardinge produces. With approximately 75% of its sales outside of North America, Hardinge serves the worldwide metal working market. Hardinge's machine tool and accessory solutions can also be found in a broad base of industries to include aerospace, agricultural, automotive, construction, consumer products, defense, energy, medical, technology and transportation.
Hardinge applies its engineering design and manufacturing expertise in high performance machining centers , high-end cylindrical and jig grinding machines , SUPER-PRECISION ® and precision CNC lathes and technologically advanced workholding accessories. Hardinge has manufacturing operations in China, France, Germany, Switzerland, Taiwan, the United Kingdom and the United States.
The Company regularly posts information on its website: http://www.hardinge.com
Safe Harbor Statement
This news release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Such statements are based on management's current expectations that involve risks and uncertainties. Any statements that are not statements of historical fact or that are about future events may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "predicts," "potential," "continue," "strategy," "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. The Company's actual results or outcomes and the timing of certain events may differ significantly from those discussed in any forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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