Dynacast International Ltd. last week announced the departure of three senior executives from its U.S. plastics subsidiary, SPM Inc., headquartered in Anaheim, Calif. Effective immediately were the resignations of Mike Noggle as president; Larry Noggle, executive vice president; and Charles Finkbiner, senior vice president of business development.
A release issued by Dynacast stated that ``it has become increasingly clear that a restructuring of our operations in North America will reduce cost and provide greater operational effectiveness. As a result of this restructuring their positions will no longer exist.''
The Noggles and Finkbiner were not available for comment.
Andre LeBlanc, former SPM regional general manager for Canada and Mexico, was named chief operating officer of SPM/Dynacast. He reports to David Speirs, chairman and chief executive officer of Dynacast International.
LeBlanc said the Noggles and Finkbiner had three-year contracts with Dynacast, and that all parties have mutually agreed to bring them to a conclusion early. Terms of the contractual settlement will be finalized in the next 45 days.
Under the direction of the Noggle brothers, whose father, Larry C. Noggle, founded SPM, the firm underwent much growth and change.
In 1992, the Noggles entered a joint venture partnership with other investors called Bace Manufacturing Inc., in order to advance technologically and expand business opportunities.
In February 1995 Bace sold SPM to Dynacast, a manufacturer of zinc, aluminum, and magnesium die cast components and injection molded parts with U.S. headquarters in Yorktown Heights, N.Y.
The Noggles and Finkbiner had been majority stockholders in privately held SPM and Bace.
Mike Noggle had been charged with overseeing the consolidation of Dynacast's North American operations with SPM's six North American injection molding plants, and expanding business globally.
LeBlanc said in a telephone interview from SPM/Dynacast's Denver facility, that although Dynacast's management and SPM's management held the same commitment to global growth, there were basic differences in how to achieve that growth.
During the past 18 months, under Noggle's direction, SPM opened plants in Monterrey, Mexico, and Malacca, Malaysia. A plant in Cwmcarn, Wales, is still scheduled to open in January. Three of SPM's plants support the worldwide operations of Northern Telecom Ltd., a telecommunications firm.
``We're dedicated to serving Northern Telecom at each of those locations, and grow the business with other customers as well,'' LeBlanc said, adding that the company intends to do the ``same type of global partnerships with companies such as Nokia, Lexmark and IBM. ``These are the players we'd like to associate with in the future.''
LeBlanc said his mandate is to double the size of the company to $1 billion through growth and acquisitions, and that SPM will represent a major part of that growth.
Dynacast is forecasting annual sales for 1997 to be in the $500 million to $600 million range. SPM represents about 50 percent of Dynacast's sales.
Other new organizational appointments include Michael Chastain, regional manager, Anaheim; Jerry McMurry, regional manager responsible for Portland, Ore., Denver, Fremont, Calif., and MicroPower; Tim Hayter, regional manager responsible for Minneapolis, Seneca, S.C., Hickory, N.C., Houston, El Paso, Texas, and Puerto Rico; Pierre Fournier, regional manager responsible for Calgary, Alberta, Montreal, Monterrey and global account manager-Nortel; Mike Flynn, general manager, Mountain Ash, Wales; Tom Jackman, general manager, Calgary; Carl Kern, director of quality; and Ed Noggle, director of tooling.
SPM employs about 3,000 at its plants worldwide.
``I've been passed the baton and we have to repeat the success of the SPM legacy,'' said LeBlanc. ``I'm extremely honored to follow in the Noggles' footsteps and to be instrumental in the continuation of their dream.''