PITTSBURGH, May 1, 2014 (GLOBE NEWSWIRE) -- The Board of Directors of Pittsburgh Corning Corporation, with headquarters in Pittsburgh, Pennsylvania, USA, and the Board of Directors of Pittsburgh Corning Europe, with headquarters in Tessenderlo, Belgium, have elected James R. Kane as Chairman and Chief Executive Officer of both entities, effective May 1, 2014.
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Pittsburgh Corning (www.pghcorning.com) is a global manufacturer of specialized insulation and glass block products. The company's FOAMGLAS® insulation, a unique, high-performance cellular glass product, is used around the world as protection in commercial building envelopes and major industrial process piping for oil and gas production, and as the foundation for massive liquid natural gas storage tanks. Pittsburgh Corning glass block includes premium glass block products and architectural window systems for commercial, institutional, government and residential buildings.
Kane succeeds Phillip M. Martineau, who has served as Chairman and Chief Executive Officer of Pittsburgh Corning Corporation and Pittsburgh Corning Europe since 2005. Under his leadership, the two companies were leveraged as a single worldwide presence, and transformed through strategic investments in new technologies, lean manufacturing, and global expansion – all of which created significant shareholder value.
Pittsburgh Corning Corporation has operated under asbestos-related Chapter 11 protection since 2000. Martineau oversaw Confirmation of the company's Modified Third Amended Plan of Reorganization by the U.S. Bankruptcy Court for the Western District of Pennsylvania in 2013. The Plan includes creation of a trust with assets exceeding $3.5 billion to benefit people and families harmed by asbestos, when Pittsburgh Corning Corporation emerges from Chapter 11.
Kane's appointment is part of the Pittsburgh Corning long-term succession plan. In 2013, Martineau notified the Board of Directors of his intention to retire in 2014, at age 67. Kane had been identified as his successor, ensuring a smooth transition to a new chief executive who had delivered significant accomplishments inside the organization.
Kane most recently served as Chief Operating Officer of Pittsburgh Corning Corporation and Pittsburgh Corning Europe. In that role, he has been responsible for global capacity expansion on two continents – a greenfield, ultramodern FOAMGLAS® manufacturing operation being constructed in northern China to serve the growing Asia-Pacific region, and a major expansion of the existing Pittsburgh Corning FOAMGLAS® manufacturing facility in the Czech Republic. The company's total investment in both facilities will approach $100 million.
"Jim is a talented, accomplished leader, gifted with the ability to elicit the best for customers, employees, executives and government officials all over the world. An innovative thinker, Jim focuses first and foremost on customer satisfaction," said Phillip M. Martineau, retiring Chairman and Chief Executive Officer of Pittsburgh Corning. "There's no doubt that he will build the Pittsburgh Corning business dramatically during the next decade while strengthening customer relationships around the world."
Kane joined Pittsburgh Corning Corporation in 2007 as Vice President and General Manager of the Pittsburgh Corning FOAMGLAS® Industrial business worldwide. Throughout his career, Kane, 55, has held a series of senior management positions with a range of leading companies.
He began his career at Corning Incorporated, the world leader in specialty glass and ceramics. Later, he advanced to officer-level positions at privately held Haworth Inc., a global designer and manufacturer of premium office furniture and organic workspaces.
Prior to joining Pittsburgh Corning Corporation, Kane served as Vice President, Business Development at HNI Corporation where he successfully led their entry into new market segments. He also served as Vice President and general manager of three business units during his six years with HNI. HNI is the second-largest office furniture manufacturer in the world and the nation's leading manufacturer and marketer of gas- and wood-burning fireplaces.
"I am very excited to lead Pittsburgh Corning. Our companies are uniquely positioned to serve customers around the world and our employees are fully committed to meeting their changing needs. Our future is bright," said Jim Kane, Chairman and Chief Executive Officer of Pittsburgh Corning Corporation and Pittsburgh Corning Europe. "I'm honored to succeed Phil Martineau and wish him well in retirement. I join the Boards of Directors, employees, customers and suppliers in thanking Phil for his lasting contributions and strong leadership during the past nine years."
About Pittsburgh Corning Corporation and Pittsburgh Corning Europe, N.V.
Pittsburgh Corning is a global leader in the design and manufacture of specialized insulation and glass block for building and industrial applications. Headquartered in Pittsburgh, Pennsylvania and in Tessenderlo, Belgium, the companies are equity affiliates of PPG Industries, Inc. and Corning, Inc.
The Pittsburgh Corning FOAMGLAS® business manufactures high-performance FOAMGLAS® cellular glass insulation used in industrial, commercial and building applications. FOAMGLAS® insulation offers a unique combination of properties, making it one of the highest performing insulation materials available. Billions of board feet of FOAMGLAS® have been installed throughout the world in thousands of buildings and industrial plants. Pittsburgh Corning Corporation also offers a wide range of complementary accessory products including sealants, adhesives, and jacketing.
The Pittsburgh Corning glass block business is the largest United States manufacturer of premium glass block products and specialized architectural window systems for commercial, institutional, government and residential buildings.
The photo is also available via AP PhotoExpress.
Source: Pittsburgh Corning