JERSEY CITY, N.J.--(BUSINESS WIRE)--
Bel Fuse Inc. (NASDAQ: BELFA) (NASDAQ: BELFB) today announced the
promotions of Dennis Ackerman to President of Bel Power Solutions, and
Peter Bittner to President of Bel Connectivity Solutions.
Daniel Bernstein, Bel's President and CEO, said, "Bel is fortunate to
have two such talented and dedicated executives to take charge of our
Power Solutions and Connectivity Solutions businesses during this period
of rapid growth for our Company. These well-earned promotions reflect
the significant contributions Dennis and Pete have made to the success
of Bel's growth strategy.
"Dennis Ackerman has guided the recent development and integration of
our Power business, most significantly since our acquisition of Power
One last year. Under Dennis's leadership, Bel Power is reestablishing
itself in key markets, and has dramatically improved the quality,
service and delivery performance of our manufacturing facilities in
China in just the past few months. Our customers are responding
positively to the gains Dennis has helped achieve. With Dennis at the
helm, we see a bright future for Bel Power Solutions.
"Pete Bittner played an indispensable role in the restructuring of our
Cinch Connectors business in the United States, as well as the
integration of its sales and marketing team into our global Connectivity
Solutions business, formerly Emerson Network Power Connectivity
Solutions, which we also acquired last year. We are confident that Pete
will continue to excel with his expanded responsibilities at Bel
Connectivity Solutions."
Dennis Ackerman, 52 years old, joined Bel in 1986 and has held the
positions of Customer Service Manager, Sales Manager, Purchasing Manager
and Operations Manager. In 2001, he was named Vice President of
Operations. In addition, Mr. Ackerman is currently a director of
Dongguan Transpower Electric Products Company Limited. Mr. Ackerman has
an MBA degree from Fairleigh Dickinson University.
Peter Bittner, 45 years old, began his career in 1991 at Stewart
Connector Systems. He joined Insilco Technologies, Stewart Connector's
parent company, in 1999, serving as Industry Marketing Manager.
Following Insilco's acquisition by Bel in 2003, Mr. Bittner was named
General Manager of Stewart Connector. Later, Mr. Bittner assumed
responsibility for the acquired Cinch Connector business and the
acquired Gigacom Interconnect, Array Connector and Fibreco businesses.
He holds a Bachelor of Science degree in Business Management.
About Bel
Bel (www.belfuse.com)
designs, manufactures and markets a broad array of products that power,
protect and connect electronic circuits. These products are primarily
used in the networking, telecommunications, computing, military,
aerospace, transportation and broadcasting industries. Bel's product
groups include Magnetic Solutions (integrated connector modules, power
transformers, power inductors and discrete components), Power Solutions
and Protection (front-end, board-mount and industrial power products,
module products and circuit protection), and Connectivity Solutions
(expanded beam fiber optic, copper-based, RF and RJ connectors and cable
assemblies). The Company operates facilities around the world.
Forward-Looking Statements
Except for historical information contained in this press release,
the matters discussed in this press release (including the statements
regarding potential sales growth, efforts to renew customer
relationships with former Power Solutions customers) are forward-looking
statements (as described under the Private Securities Litigation Reform
Act of 1995) that involve risks and uncertainties. Actual results
could differ materially from Bel's projections. Among the factors
that could cause actual results to differ materially from such
statements are: the market concerns facing our customers; the continuing
viability of sectors that rely on our products; the effects of business
and economic conditions; difficulties associated with integrating
recently acquired companies; capacity and supply constraints or
difficulties; product development, commercialization or technological
difficulties; the regulatory and trade environment; risks associated
with foreign currencies; uncertainties associated with legal
proceedings; the market's acceptance of the Company's new products and
competitive responses to those new products; and the risk factors
detailed from time to time in the Company's SEC reports. In light
of the risks and uncertainties, there can be no assurance that any
forward-looking statement will in fact prove to be correct. We undertake
no obligation to update or revise any forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150519006742/en/
Investor Contact:
Neil Berkman Associates
(310) 477-3118
info@berkmanassociates.com
or
Company
Contact:
Bel Fuse Inc.
Daniel Bernstein
President
201.432.0463
ir@BelFuse.com
Source: Bel Fuse Inc.
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