OMAHA, Neb., Sept. 2, 2016 /PRNewswire/ -- Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and mechanized irrigation equipment and services for agriculture, announced today that its board of directors has promoted Stephen G. Kaniewski to the position of President and Chief Operating Officer of Valmont. The appointment is effective October 1, 2016. Kaniewski will become responsible for the daily operations of Valmont and will be reporting to Mogens Bay, Valmont's Chairman and Chief Executive Officer.
"Steve is a seasoned executive with a passion for operational excellence," said Mr. Bay. "His global experience, leadership skills and strategic thinking will be pivotal in driving Valmont's continued success."
Kaniewski has been Group President of Valmont's Utility Support Structures Segment since August, 2015, where under his leadership the utility team successfully transformed its operating model. Prior to that, he was the Utility group's Senior Vice President and Managing Director. Steve joined Valmont in 2010 as Vice President-Information Technology and has held the position of Vice President-Global Operations for the Irrigation Segment.
Kaniewski is a graduate of Santa Clara University with a BS in Sociology and currently serves as the Chairman of the Board of the AIM Institute in Omaha, a not-for-profit organization dedicated to promoting vibrant communities through technology.
Valmont is a global leader, designing and manufacturing highly engineered products that support global infrastructure development and agricultural productivity. Its products for infrastructure serve highway, transportation, wireless communication, electric transmission, and industrial construction and energy markets. Its mechanized irrigation equipment for large scale agriculture improves farm productivity while conserving fresh water resources. In addition, Valmont provides coatings services that protect against corrosion and improve the service lives of steel and other metal products.
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management's perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont's control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont's actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, risk factors described from time to time in Valmont's reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.
SOURCE Valmont Industries, Inc.