FreightCar America, Inc. Appoints Terence Rogers as Chief Financial Officer
February 17 2021 - 5:00PM
FreightCar America, Inc. (NASDAQ: RAIL) today announced that its
Board of Directors has appointed Terence R. (Terry) Rogers as Vice
President, Chief Financial Officer & Treasurer, effective
February 15, 2021. Mr. Rogers has been serving as Interim Chief
Financial Officer since January 2021, leading all the finance
activities of the Company including business planning, budgeting,
forecasting, treasury and information technology.
Jim Meyer, President and Chief Executive
Officer, commented, “We are thrilled to have a person of Terry’s
caliber join the permanent team. He is an extremely experienced
financial leader and brings invaluable experience as we complete
the remaining steps of our strategic repositions and look to pivot
to long-term growth. We are on track to complete the transition of
our production to Mexico in early 2021 and remain focused on
achieving our goals to become the highest quality, lowest cost
producer in the industry and build a manufacturing platform well
positioned for the future.”
Terry Rogers, Chief Financial Officer of
FreightCar America, added, “I am excited to be joining FreightCar
America at such an important time in the Company’s history. Jim and
the team have executed a comprehensive transformation of the
business, which has significantly enhanced our competitive
position. I look forward to the future of the Company, and believe
we have the right strategy to complete the repositioning and return
to long-term growth.”
Mr. Rogers has nearly 40 years of experience in
finance, accounting and operations with a proven track record in
strategic planning, corporate restructuring, accounting and
investor relations. Prior to joining FreightCar America, Mr. Rogers
was Executive Vice President and Chief Financial Officer at
Roadrunner Transportation Systems from 2017 to 2019. Prior to
joining Roadrunner, Mr. Rogers served as Executive Vice President
and Chief Financial Officer of the Heico Companies from 2012 to
2017. Mr. Rogers also held various executive management positions
at Ryerson, including Executive Vice President and Chief Financial
Officer, over a 17-year period.
Mr. Rogers holds a Master’s Degree in Business
Administration from the University of Michigan and a Bachelor’s
Degree in Accounting from Illinois State University.
About FreightCar America
FreightCar America, Inc. is a diversified
manufacturer of railroad freight cars, that also supplies railcar
parts and leases freight cars through its FreightCar America
Leasing Company subsidiaries. FreightCar America designs and builds
high-quality railcars, including open top hopper cars, covered
hopper cars, intermodal and non-intermodal flat cars, mill gondola
cars, coil steel cars, boxcars, coal cars, and also specializes in
the conversion of railcars for repurposed use. It is headquartered
in Chicago, Illinois and has facilities in the following locations:
Cherokee, Alabama; Castaños, Mexico; Johnstown, Pennsylvania; and
Shanghai, People’s Republic of China. More information about
FreightCar America is available on its website at
www.freightcaramerica.com.
Forward-Looking Statements
This press release may contain statements
relating to our expected financial performance and/or future
business prospects, events and plans that are “forward-looking
statements” as defined under the Private Securities Litigation
Reform Act of 1995. Forward-looking statements represent our
estimates and assumptions only as of the date of this press
release. Our actual results may differ materially from the results
described in or anticipated by our forward-looking statements due
to certain risks and uncertainties. These potential risks and
uncertainties include, among other things: risks relating to the
potential financial and operational impacts of the COVID-19
pandemic; the risk that our stockholders may not approve the
issuance of the common stock underlying the warrant or that the
term loan might not be funded; the Shoals facility, including the
facility not meeting internal assumptions or expectations and
unforeseen liabilities from Navistar; the cyclical nature of our
business; adverse economic and market conditions; fluctuating costs
of raw materials, including steel and aluminum, and delays in the
delivery of raw materials; our ability to maintain relationships
with our suppliers of railcar components; our reliance upon a small
number of customers that represent a large percentage of our sales;
the variable purchase patterns of our customers and the timing of
completion, delivery and customer acceptance of orders; the highly
competitive nature of our industry; the risk of lack of acceptance
of our new railcar offerings by our customers; and other
competitive factors. We expressly disclaim any duty to provide
updates to any forward-looking statements made in this press
release, whether as a result of new information, future events or
otherwise.
INVESTOR & MEDIA CONTACT |
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TELEPHONE |
312-445-2870 |
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