Cavco Industries makes announcement.PHOENIX--(BUSINESS WIRE)--Nov. 7, 1996--Cavco Industries (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CVCO) Thursday announced that Brent Ghelfi has been appointed president and chief executive officer of the company. The company's founder, Al Ghelfi, will continue to serve as chairman of the board. Previously, Brent Ghelfi served as executive vice president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the company and as president of its Sun Built Homes Inc. subsidiary. The company also announced that to facilitate the company's growth plans, Wendell Hargis has been appointed to the newly-created position of executive vice president of plant development. Hargis previously served as vice president of operations. David Blank was named to succeed Hargis as vice president of operations. Blank previously served as general manager of Cavco's Litchfield Division. In addition, the company announced the resignation of William R. Blandin, executive vice president, and expressed its appreciation for his 20 years of service to Cavco. Blandin will continue to serve as a member of the company's board of directors and consult with the company on production, development and design. Cavco is a diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a that produces manufactured homes and, through its National Security Containers Inc. subsidiary, sells and leases storage containers. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: the matters discussed in this news release may be considered forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that may be subject to risks and uncertainties that could cause the actual results to differ materially from those projected, including fluctuations in interest rates and economic conditions, raw materials pricing, government regulation, manufacturing efficiencies, and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release. CONTACT: Cavco Industries Inc., Phoenix Robert Ward Robert Ward (born September 13, 1917 in Cleveland, Ohio) is an American composer. Early work and education Ward was one of five children of the owner of a moving and storage company. As a boy he sang in church choirs and local opera theaters. , 602/256-6263 or Western Financial Group Steve Kleemann, 805/964-9518 |
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