REPUBLIC TECHNOLOGIES HEADLINESSteel Producers /
Republic Technologies
Republic Announces New President and CEO
Jun. 29, 2006
June 29, 2006 — Republic Engineered Products Inc. announced that Jaime Vigil has been appointed as President and Chief Executive Officer, replacing Joseph F. Lapinsky.
Lapinsky is leaving Republic in solid financial condition as the company became debt-free earlier this year. He led the company through its acquisition in July 2005 by Industrias CH, SA de CV (ICH), the Mexico City-based steel producer and processor. He has agreed to be available in an advisory capacity during the leadership transition and has discussed being considered to serve as a Republic board member.
"Republic is in a good position today and ICH continues to invest in the business," Lapinsky said. "I've decided this is a good time for me to step aside and pursue other interests. Jaime Vigil will continue the progress we have made since ICH's acquisition, particularly our focus on developing operations that serve the best interests of our valued customers."
Vigil has served as executive adviser since ICH's acquisition of Republic. He previously served as CEO of Pytsa Industrial SA de CV, a wholly owned subsidiary of ICH, and also as its Investor Relations Manager. In addition, Vigil served as an alternate director for ICH's board of directors.
"I have learned a great deal working with the management team at Republic for the past 11 months," Vigil said. "Joe Lapinsky is a well-respected leader in the SBQ industry and I have enjoyed working closely with him. I look forward to helping Republic continue to make strides in improving operations and enhancing productivity and efficiency in order to grow the business and expand our ability to provide value-added opportunities for our customers."
Republic Engineered Products, Inc. is a leading North American supplier of special bar quality (SBQ) steel. With headquarters in Fairlawn, Ohio, the privately owned company operates steelmaking centers in Canton and Lorain, Ohio, and value-added rolling and finishing facilities in Canton, Lorain and Massillon, Ohio; Lackawanna, N.Y.; Gary, Ind.; and Hamilton, Ont. Republic employs approximately 2,500 people.