Latest news with #Incora
Yahoo
21-05-2025
- Business
- Yahoo
Incora Announces Michael Turner as New Chief Financial Officer
Michael Turner, Incora Chief Financial Officer FORT WORTH, Texas, May 21, 2025 (GLOBE NEWSWIRE) -- Incora, a leading global provider of innovative supply chain management solutions in the aerospace, defense and industrial sectors, is excited to announce that Michael Turner is joining Incora as Chief Financial Officer, effective June 2, 2025. Michael will lead the global finance organization, including planning, operational finance, treasury, tax and investor relations. Said Michael, 'I'm thrilled to join Incora at such a pivotal and transformative time for the business. The Company's strong value proposition, centered on delivering innovative supply chain solutions, is unmatched in the industry. With a clear focus on operational excellence and strategic growth, this is an exciting opportunity to be part of a talented executive team driving the next chapter of Incora's success.' Michael brings more than 20 years of experience as a finance executive, including previous Chief Financial Officer roles at both public and private companies. He most recently served as Executive Vice President and Chief Financial Officer at Vibrantz Technologies. Prior to that, he was the Executive Vice President and Chief Financial Officer at the publicly traded 3D Systems (NYSE: DDD). Previously, Michael also served as Chief Financial Officer at Innovative Chemical Products and Global Business Unit Chief Financial Officer at Albemarle for the Company's Bromine and Catalyst business units. 'As a proven Chief Financial Officer, Michael brings unique experience to the executive team,' said David Coleal, Chief Executive Officer of Incora. 'We believe his expertise and leadership will be instrumental in driving growth and generating financial results to create long-term value for our customers, employees and owners. I speak on behalf of the entire leadership team when I say we're so pleased to welcome him to Incora and are excited to work with him.' 'We'd also like to thank Ray Carney for his dedicated tenure as CFO,' continued Coleal. 'He has been a critical member of Incora's leadership team, and we wish him the best in his future endeavors.' About IncoraIncora is a leading provider of comprehensive supply chain management services to the global aerospace and other industries. Beginning with a strong foundation in aerospace and defense, Incora also utilizes its supply chain expertise to serve industrial manufacturing, marine, pharmaceutical and beyond. Incora incorporates itself into customers' businesses, managing all aspects of supply chain from procurement and inventory management to logistics and on-site customer services. The company is headquartered in Fort Worth, Texas, with a global footprint that includes 68 locations in 17 countries and more than 3,800 employees. For more information, please visit Forward Looking and Cautionary StatementsIncora has included statements in this press release that constitute 'forward-looking statements.' As a general matter, forward-looking statements are those focused on future or anticipated events or trends, expectations and beliefs including, among other things, Incora's expectations with respect to the restructuring described herein. Such statements are intended to be identified by using words such as 'believe,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'will,' 'project,' 'plan' and similar expressions in connection with any discussion of future operating or financial performance. Any forward-looking statements are and will be based upon Incora's then-current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. Readers are cautioned not to put undue reliance on such forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those projected in this press release. Incora undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Media ContactJade StephensMarketing Managerjstephens@ A photo accompanying this announcement is available at in to access your portfolio
Associated Press
31-01-2025
- Business
- Associated Press
Incora Successfully Emerges from Chapter 11 Protection, Significantly Reducing Debt and Poised for Long-Term Growth
FORT WORTH, Texas, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Incora and certain of its affiliates (collectively, 'Incora' or the 'Company'), a leading global provider of innovative supply chain management solutions, today announced that the Company has successfully emerged from Chapter 11. Through this process, the Company completed a substantial de-leveraging of its balance sheet and made operational improvements to support long-term growth. The Company has implemented its Plan of Reorganization (the 'Plan'), approved by the U.S. Bankruptcy Court for the Southern District of Texas on December 27, 2024. Incora emerges as a financially healthy company with a strong pipeline of new business to drive growth. The Company is cash flow positive and continues to maintain ample liquidity to optimize inventory levels to support customer needs and growth. Incora emerges from Chapter 11 under new ownership by a well-known and respected group of institutional investors. 'Incora is emerging from this process a stronger company, both financially and operationally,' said David Coleal, Chief Executive Officer of Incora. 'We've made significant improvements to our capital structure and are working better than ever with our supplier partners, all while continuing to deliver for our customers. This marks the dawn of a new era for our business, and we are confident that we are moving forward as an even stronger partner for our stakeholders. I'm grateful to our dedicated employees and to our new owners for their trust in our mission. We now stand poised to seize new opportunities for growth and I look forward to what the next chapter holds for Incora as we continue to empower our customers to meet their critical business needs.' Pursuant to the Plan, the Company has designated new members to its board of directors (the 'Board'). These designated Board members are Robert L. Nardelli, David Coleal, Adam Hieber, Bernd F. Kessler, Jared Weisman, Thomas Weld, Felix Lo, Robert J. Eck and Joseph T. Lower. 'This is a pivotal moment in Incora's journey,' said Robert Nardelli, designated Non-Executive Chairman of the Board. 'The incredible progress made over the past year and a half has positioned Incora for continued success, and I am excited to see this next phase of growth. Once confirmed, I look forward to working alongside the talented leadership team and the rest of the Board to drive innovation across the organization and create lasting value for customers.' For more information about Incora's Chapter 11 case, including the terms of the transactions consummated with the Company's emergence, please visit or contact Verita Global, the Company's noticing and claims agent, at +1 (888) 251-2937 (for toll-free U.S. or Canada calls) or +1 (310) 751-2613 (for tolled international calls). Incora was represented and advised in this matter by Milbank LLP as restructuring counsel, PJT Partners as financial advisor and Alvarez & Marsal as restructuring advisor. About Incora Incora is a leading provider of comprehensive supply chain management services to the global aerospace and other industries. Beginning with a strong foundation in aerospace and defense, Incora also utilizes its supply chain expertise to serve industrial manufacturing, marine, pharmaceutical and beyond. Incora incorporates itself into customers' businesses, managing all aspects of supply chain from procurement and inventory management to logistics and on-site customer services. The company is headquartered in Fort Worth, Texas, with a global footprint that includes 68 locations in 17 countries and more than 3,800 employees. For more information, please visit Forward Looking and Cautionary Statements Incora has included statements in this press release that constitute 'forward-looking statements.' As a general matter, forward-looking statements are those focused on future or anticipated events or trends, expectations and beliefs including, among other things, Incora's expectations with respect to the restructuring described herein. Such statements are intended to be identified by using words such as 'believe,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'will,' 'project,' 'plan' and similar expressions in connection with any discussion of future operating or financial performance. Any forward-looking statements are and will be based upon Incora's then-current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. Readers are cautioned not to put undue reliance on such forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those projected in this press release. Incora undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Media Contact
