Press Release Details
Colfax's George Ponton Wins Marine Machinery Association's Highest Award
Ponton selected for authoring cost-reduction report for U.S. Navy's Naval Sea Systems Command and years of MMA service
RICHMOND, VA - Oct. 23, 2008 -Colfax Corporation (NYSE: CFX), a global leader in fluid-handling solutions, announced the Marine Machinery Association (MMA) has named George Ponton the 2008 recipient of its Jack Flanagan Award, the MMA's highest distinction. Ponton is Colfax's director of defense sales.
"George is an invaluable resource to Colfax, and we're pleased that the MMA has recognized his contributions to naval construction," said Mario DiDomenico, senior vice president, general manager at Colfax. "His and his MMA colleagues' work helps assure the U.S. Navy receives the highest-quality ships and systems to defend our country."
The award's namesake, Jack Flanagan, founded the MMA in 1984, and the organization serves manufacturers of hulls, machinery, equipment and services used in the construction of warships. It works with the Navy and shipyards to establish quality and technical standards.
Ponton was chosen for the award for his work as primary author of a report identifying 10 areas of cost reduction for the Navy's Naval Sea Systems Command as well as his 20 years of service to the MMA in positions including president, vice president and secretary/treasurer. He is the first award recipient from a manufacturer; previous award winners have been government or shipyard officials.
Ponton has been with Colfax 25 years. He previously worked at a naval architecture and marine engineering company in Washington, D.C., the Long Beach Naval Shipyard and other naval technology companies. Ponton holds a bachelor's degree in mechanical engineering from New Mexico State University.
ABOUT COLFAX CORPORATION - Colfax Corporation is a global leader in critical fluid-handling solutions, including the manufacture of positive displacement industrial pumps and valves used in global oil & gas, power generation, marine, naval and a variety of other industrial applications. Key product brands include, Allweiler, Fairmount Automation, Houttuin, Imo, LSC, Portland Valve, Tushaco, Warren and Zenith. Colfax is traded on the NYSE under the ticker "CFX." Additional information about Colfax's products, businesses and practices is available at www.colfaxcorp.com.
CAUTIONARY NOTE CONCERNING FORWARD LOOKING STATEMENTS:
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning Colfax's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on Colfax's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Colfax's results to differ materially from current expectations include, but are not limited to factors detailed in Colfax's Registration Statement on Form S-1 under the caption "Risk Factors" and other reports filed with the U.S. Securities and Exchange Commission. In addition, these statements are based on a number of assumptions that are subject to change. This press release speaks only as of this date. Colfax disclaims any duty to update the information herein.
MEDIA CONTACT:
Joe Niemann
(804) 327-5679
Joe.Niemann@colfaxcorp.com