|[February 14, 2013]
Nortech Systems Names Rich Wasielewski President and Chief Operating Officer
MINNEAPOLIS --(Business Wire)--
Nortech Systems (News - Alert) Incorporated (NASDAQ: NSYS) has named Richard G.
Wasielewski to the new position of president and chief operating
officer, effective immediately. Mike Degen will retain his role as chief
Wasielewski joined Nortech Systems in 2004 as vice president and chief
financial officer; he was named a senior vice president in 2008. While
at Nortech, his responsibilities have broadened beyond traditional CFO
roles to include spearheading acquisitions, leading long-range strategic
planning and evaluating the operations of Nortech's manufacturing and
service locations in Minnesota, Wisconsin and Mexico. He's also provided
executive oversight while serving as general manager of the company's
Aerospace Systems division during 2010 and 2011.
"We're pleased to recognize Rich's invaluable contributions to Nortech,"
said Mike Degen, chief executive officer of Nortech Systems. "His
transition into this new role will contribute significantly to our
future growth and the achievement of our long-term objectives." Degen
reiterated the company's commitment to both organic and acquisition-led
Degen continued, "Rich has demonstrated superior leadership and
team-building skills throughout his time with Nortech, including
managing acquisitions, consoidating operations and developing
personnel." Degen noted that Wasielewski fully embraces Nortech Systems'
core beliefs, values and culture, and has earned respect throughout the
Before joining Nortech Systems, Wasielewski held a number of management
positions in finance, operations, information systems, administration,
sourcing, mergers and acquisitions and strategic planning at several
leading manufacturing companies including Select Comfort Corporation and
The Toro Company, both headquartered in Minneapolis.
Wasielewski earned a bachelor of science degree in accounting and a
master of science degree in business administration from Indiana
About Nortech Systems Incorporated
Systems Incorporated (www.nortechsys.com),
based in Wayzata, Minn., is a full-service electronics manufacturing
services provider of wire and cable assemblies, printed circuit board
assemblies, and higher-level complete box build assemblies for a wide
range of industries. Markets served include industrial equipment,
aerospace/defense and medical. The company has manufacturing
capabilities and operating partners in the U.S., Asia and Latin America.
Nortech Systems Incorporated is traded on the NASDAQ Stock Market under
the symbol NSYS.
press release contains forward-looking statements made pursuant to the
safe harbor provision of the Private Securities Litigation Reform Act of
1995. While this release is based on management's best judgment and
current expectations, actual results may differ and involve a number of
risks and uncertainties. Important factors that could cause actual
results to differ materially from the forward-looking statements
include, without limitation: volatility in market conditions which may
affect market supply of and demand for the company's products; increased
competition; changes in the reliability and efficiency of operating
facilities or those of third parties; risks related to availability of
labor; commodity and energy cost instability; general economic,
financial and business conditions that could affect the company's
financial condition and results of operations; as well as risk factors
listed from time to time in the company's filings with the SEC (News - Alert).
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