08.30.17
Lydall announced plans to form Lydall Thermal/Acoustical Solutions through the combination of its existing Thermal/Acoustical Metals and Thermal/Acoustical Fibers businesses. Scott M. Deakin, Lydall’s executive vice president and chief financial officer, will transition out of his current role and serve as president of Lydall Thermal/Acoustical Solutions going forward. Lydall has launched an external search for Scott’s replacement; in the interim, he will continue to serve as chief financial officer until his successor is named.
As demands for the engineered management of noise, heat, vibration and harshness increase across automotive and industrial platforms globally, Lydall says that it is critical that it continues to best position its comprehensive product offering to solve customer problems in these attractive markets. Further aligning its complementary businesses will allow it to better serve customers, leverage operating disciplines, and drive efficiencies across its global operations.
Through the balance of the third quarter of 2017, the company will further define the global structure and strategies of the Thermal/Acoustical Solutions business. The company expects to begin reporting as a single consolidated segment starting in fiscal year 2018.
Dale G. Barnhart, president and CEO, says, “Consolidating Thermal/Acoustical Metals and Thermal/Acoustical Fibers will enable Lydall to better leverage our global assets, human talent and operational efficiencies, which will generate synergies and result in an improved cost position to the benefit of our customers and shareholders. Scott’s demonstrated leadership within Lydall, coupled with his previous general management roles, make him the ideal person to lead the combined, world-class organization. Having a demonstrated blend of strategic, financial and operational skills will enable Scott to lead the unification of the businesses.”
“I am very excited to lead this combined, global organization,” says Deakin. “Lydall Thermal/Acoustical Solutions will have the unique capability of providing a broad suite of highly engineered thermal and acoustical products to better serve our customers. We fully expect to further improve our effectiveness and positioning in the industry through our consolidation of these complementary businesses.”
As demands for the engineered management of noise, heat, vibration and harshness increase across automotive and industrial platforms globally, Lydall says that it is critical that it continues to best position its comprehensive product offering to solve customer problems in these attractive markets. Further aligning its complementary businesses will allow it to better serve customers, leverage operating disciplines, and drive efficiencies across its global operations.
Through the balance of the third quarter of 2017, the company will further define the global structure and strategies of the Thermal/Acoustical Solutions business. The company expects to begin reporting as a single consolidated segment starting in fiscal year 2018.
Dale G. Barnhart, president and CEO, says, “Consolidating Thermal/Acoustical Metals and Thermal/Acoustical Fibers will enable Lydall to better leverage our global assets, human talent and operational efficiencies, which will generate synergies and result in an improved cost position to the benefit of our customers and shareholders. Scott’s demonstrated leadership within Lydall, coupled with his previous general management roles, make him the ideal person to lead the combined, world-class organization. Having a demonstrated blend of strategic, financial and operational skills will enable Scott to lead the unification of the businesses.”
“I am very excited to lead this combined, global organization,” says Deakin. “Lydall Thermal/Acoustical Solutions will have the unique capability of providing a broad suite of highly engineered thermal and acoustical products to better serve our customers. We fully expect to further improve our effectiveness and positioning in the industry through our consolidation of these complementary businesses.”
