Automotive Veteran Bob Remenar Appointed CEO
WIXOM, MI--(Marketwire - June 8, 2012) - Diversified Machine Inc. (DMI), a vertically-integrated supplier of fully engineered chassis and powertrain components and modules to the automotive industry, today announced the appointment of Robert J. Remenar as CEO. Mr. Remenar, 56, replaces former DMI Chairman and CEO Bruce Swift who stepped down in March.
"We conducted a thorough and comprehensive search for a leader with the right combination of experience, ambition and intellect to help drive the transformation of DMI into a larger, global platform," said Bryan Kelln, President of Portfolio Operations for Platinum Equity, which acquired DMI in December 2011. "We interviewed many capable candidates and Bob emerged as the best possible fit based on his proven track record leading a successful global Tier-1 supplier and his compelling vision for the future of DMI."
Mr. Remenar is an automotive industry veteran who joins DMI from Nexteer Automotive, where he served as President and CEO. Mr. Remenar will continue to serve on the Nexteer Board of Directors. During Mr. Remenar's tenure, Nexteer evolved into a successful, stand-alone global enterprise with a diverse customer base, footprint and product portfolio.
"I am excited to join DMI at such a pivotal time and look forward to working with DMI's customers, employees and other partners to help the organization evolve and reach its full potential," said Mr. Remenar. "With Nexteer now on a stable and firm growth path, I wanted a new opportunity where I can deploy my passion for building teams, customer satisfaction, enterprise value and success. DMI is poised for growth with exciting opportunities to increase geographic and customer diversity, and to continue improving fundamental business operations, product quality and customer service."
Mr. Remenar was previously president of the former Delphi Steering Division, a business unit that spun out of Delphi and transformed into Nexteer. While at Delphi Mr. Remenar was also a Delphi Corp. officer and vice president and member of its strategy board.
Mr. Remenar began his career in the auto industry in 1985 with General Motors. He held various operational, financial and human resource roles within Delphi and within GM in corporate financial analysis, labor relations, employment cost analysis and compensation, policy development, and employee relations.
Mr. Remenar earned an undergraduate degree from Central Michigan University and a master's degree in business administration from Walsh College. He is a member of the President's Advisory Council of Walsh College, the Dean's Business Advisory Council of Central Michigan University. Mr. Remenar serves on the board of directors of the PKC Group and Stackpole International.
About Diversified Machine Inc.
Diversified Machine Inc. is a leading vertically-integrated supplier of fully engineered chassis and powertrain components and modules for the automotive OEMs and Tier 1 suppliers. A global supplier with operations strategically located to better serve its customers, DMI offers fully-integrated design, development, testing, casting, machining, and assembly capabilities, of both aluminum and ductile iron components. DMI's integrated machining and casting capability, often in the same manufacturing environment, provides for full-service supply, higher efficiency and quality, and lower cost to the customers. DMI's global operations include: machining and assembly plants; aluminum foundries that cast and machine; a ductile iron foundry; an engineering design and testing lab; and a full service supplier capability. Web: www.divmi.com.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 130 acquisitions.