Hartzell completes strategic product re-evaluation
Nov. 2, 2012, Montgomery, Al. - Hartzell Engine Technologies has closed a transaction to divest certain product lines within its portfolio, completing a strategic realignment of its business.
Hartzell has sold its magneto parts and overhaul, ignition harness, and oil filter product lines to Kelly Aerospace Energy Systems (KAES). KAES has acquired the assets, inventory, and design rights for these products. As part of its realignment, Hartzell has also promoted Pete Schreiner to vice-president, sales and marketing.
Hartzell Engine Technologies is investing significant human and capital resources into improving its market leading position in each of its five core product lines: turbocharging systems, alternators, cabin heating systems, starters, and fuel pumps. Hartzell has committed to the product lines where it owns designs that have original equipment engine and airframe content. The divested product lines fall outside of this criteria.
Hartzell Engine Technologies president, Mike Disbrow, said, “When Hartzell bought this business in 2010, there were nine distinct product lines in place. After internal analysis, we decided to re-align our strategic focus. With this transaction, and another recently completed with Lamar Technologies, we’ve pared down the business to five core product lines that fit with our skills and expertise so that we will be best-in-class across these remaining core lines.”
Additionally, due to some personnel moves related to the KAES transaction, Pete Schreiner has been promoted to vice-president, sales and marketing. He will be responsible for all commercial and customer support activities at Hartzell Engine Technologies.
“Pete Schreiner comes to this position with significant technical and commercial experience, and a thorough understanding of our OEM customers and our future strategic direction. As vp, sales and marketing, his skill set will drive growth across our five core product lines, and help us improve our market leading position,” added Disbrow.