Sifco Industries, Inc.

SIFCO INDUSTRIES NAMES JOHN GLOVER TO HEAD NEW CORPORATE SALES ORGANIZATION

SIFCO INDUSTRIES NAMES JOHN GLOVER TO HEAD NEW CORPORATE SALES ORGANIZATION

CLEVELAND – November 30, 2016 – SIFCO Industries, Inc. (NYSE MKT: SIF) announced today the creation of a Corporate Sales organization aimed at enhancing the Company’s ability to serve world-class customers in the aerospace and energy markets.

The new organization will be led by John Glover, who becomes corporate vice president of sales and will report to CEO Pete Knapper. Mr. Glover is currently general manager of SIFCO’s aluminum forging division in Orange, Calif.

“I am extremely confident in John’s ability to energize our sales process by better leveraging our internal and external sales forces,” said Mr. Knapper. “Our goal is to improve our sales results by selling the entire suite of SIFCO capabilities across all sites, geographies and customers.”

Corporate Sales will establish a centralized bid and contract management function, enhance our agent network and engage its members in cross-selling efforts, and create marketing tools to promote the Company. All current business unit sales staff will become part of the new organization.

Mr. Glover, a veteran of more than 25 years in the aluminum forging industry, joined SIFCO as general manager for the Company’s Orange, Calif. facility when the Company acquired the division in 2011. He had previously served as the division’s chief financial officer from 1992 to 2000.

John Cherr, director of sales for SIFCO’s forging division in Alliance, Ohio, becomes global sales director and will report to Mr. Glover.  Mr. Cherr brings 30 years of sales and sales management experience in the aerospace and energy markets. He will work closely with business unit sales teams to ensure a coordinated approach to winning new business across all business units.

Forward-Looking Language

Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions, competition and other uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings.

The Company's Form 10-K for the year ended September 30, 2015 can be accessed through its website: www.sifco.com, or on the Securities and Exchange Commission's website: www.sec.gov.

The Company is engaged in the production of forgings and machined components primarily in the Aerospace and Energy markets. The processes and services and services include heat-treating and machining. The Company operates under one segment.

 

 

Contacts

SIFCO Industries, Inc.

Pete Knapper, President & CEO, 216-881-8600

www.sifco.com

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