JOY TECHNOLOGIES NAMES CFO
JOY TECHNOLOGIES NAMES CFO PITTSBURGH, May 26 /PRNewswire/ -- Joy Technologies, Inc.
(NYSE: JOY) today announced that its board of directors has elected Fred R. Jones to senior vice president and chief financial officer, effective June 1, 1992.
Jones, 44, is president of ABB Financial Services, Inc., overseeing the U.S.-based financial services of Asea Brown Boveri. He was previously vice president and treasurer of Combustion Engineering, Inc., prior to its acquisition by Asea Brown Boveri. In discussing the announcement, Marc F. Wray, chairman and chief executive officer, stated, "The addition of Fred Jones is an important step in strengthening Joy's senior management team. His leadership will provide added impetus to Joy's continuing program to lower the cost and improve the flexibility of the company's global capital structure to support its growth objectives." Wray continued, "With Joy's recent completion of an initial public offering, Fred will have the responsibility of forging strong links with our new public investor constituency. We look forward to his contribution to that effort." Jones brings to Joy over 20 years of senior management experience in all aspects of corporate financial operations. He holds a B.S. in computer science from the University of Missouri and an M.B.A. from Stanford University. Joy Technologies is a leader in the worldwide manufacturing and servicing of mining equipment for the underground extraction of coal and other bedded materials. The company is also a major North American supplier of air pollution and ash-handling equipment used by utilities and other industrial operations. -0- 5/26/92 /CONTACT: Marc F. Wray, chairman, president & CEO of Joy Technologies, 412-562-4569/ (JOY) CO: Joy Technologies, Inc. ST: Pennsylvania IN: MNG MAC SU: PER
DM-KD -- PG002 -- 3740 05/26/92 11:45 EDT
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|Date:||May 26, 1992|
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