IRVING, Texas, Sept. 07, 2017 (GLOBE NEWSWIRE) -- Forterra, Inc. (“Forterra” or the “Company”) (NASDAQ:FRTA), a leading manufacturer of water infrastructure pipe and products in the United States and Eastern Canada, today announced the appointment of Charlie Brown as Executive Vice President and Chief Financial Officer, to begin his employment on or before September 25, 2017. Mr. Brown is an industry veteran with over 25 years of experience driving growth and improvement at manufacturing and construction materials companies. Mr. Brown will report to Chief Executive Officer Jeff Bradley and serve on the Company’s executive leadership team. He will succeed Matt Brown, who has resigned from the Company to pursue other opportunities.
Charlie Brown previously served as Chief Financial Officer of Oldcastle Materials Company, the North American materials division of CRH plc with $8 billion in 2016 revenue, where he led over 500 associates in over 1,200 locations, including finance, accounting, risk management and real estate personnel. During his tenure, he led implementation of enhanced financial systems, including SOX compliance, and improved business reporting capabilities and internal controls. In addition to his core responsibilities as CFO, Mr. Brown was active in Oldcastle’s operational management and acquisition activities, having completed over 100 deals during his time as CFO of the company and led efforts to enhance the procurement function and cost savings initiatives.
Mr. Brown joined Oldcastle Materials as Vice President of Finance in 2003 and was promoted to Senior Vice President of Finance in 2007 and Chief Financial Officer in 2008. Prior to Oldcastle Materials, he held various finance and senior management roles of increasing responsibility at Vulcan Materials from 1996 to 2003 and at PPG Industries from 1990 to 1996. Mr. Brown holds a Bachelor of Arts in International Economics from The George Washington University in Washington, D.C., and Master of Management from Northwestern University (Kellogg) in Evanston, Illinois.
“We are pleased to announce Charlie’s appointment as Forterra’s CFO,” said Mr. Bradley. “Charlie brings a strong background in finance and proven leadership capabilities, with over nine years serving as a CFO of Oldcastle Materials Company. I look forward to working alongside him to leverage his skills, expertise and experience as we focus on executing our growth strategy and delivering value to our shareholders. I also want to thank Matt for his contributions to Forterra over the past two years. We wish him well in his future endeavors.”
Matt Brown’s decision to resign was not motivated by any disagreements over financial statements or disclosures.
About Forterra, Inc.
Forterra is a leading manufacturer of pipe and products in the U.S. and Eastern Canada for a variety of water-related infrastructure applications, including water transmission, distribution, drainage and stormwater management. Based in Irving, Texas, Forterra’s product breadth and scale help make it a preferred supplier to a wide variety of customers, including contractors, distributors and municipalities. For more information on Forterra, please visit www.forterrabp.com.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company's filings with the Securities and Exchange Commission for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.
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