Citation Corp., the manufacturer of cast metal components for automotive and industrial markets, has named Louis Lavorata as its new senior vice president and chief financial officer. Michigan-based Citation announced Lavorata will be responsible for managing the group’s finance, accounting, tax, and treasury functions, and for developing financial strategies and policies.
Lavorata had been CFO of LD Holdings Inc., a privately held distributor of commercial and industrial petroleum products. Previously, he had been COO/CFO of Metal Spinners Inc., president/CFO of Fendrich Industries Inc., and CFO/COO of GenMet Co., a division of Park-Ohio Holdings. He had been an auditor and small business consultant with Ernst & Young’s Entrepreneurial Services Group, and a productivity improvement manager at General Motors Corp.’s Lordstown, OH, assembly plant.
Lavorata replaces Robert Sawyer, who left the company in September to pursue other professional opportunities. CEO Doug Grimm called Lavorata “an excellent addition to our team with his diverse background and extensive experience in finance and operations. He will further strengthen our management team as we continue to diversify our customer base and the industries we serve.”
Last month Citation Corp. announced it is implementing a corporate restructuring program in order to increase its focus on emerging markets and to “right-size capacity to meet customer demand.” The corporation will have two business units, Industrial Products and Transportation Products, and Citation announced it would be closing its ductile-iron foundry in Lufkin, TX, by March 2009. In August, Citation announced it is closing its Butler, IN, aluminum foundry.