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Quanex Announces Election of New President and CEO

HOUSTON, Feb. 22 /PRNewswire/ -- Quanex Corporation (NYSE: NX) announced today that Raymond A. Jean has been named president and chief executive officer. Mr. Jean was also elected to the board of directors.

Prior to joining Quanex, Mr. Jean was corporate vice president and a member of the board of directors for Amsted Industries, a diversified, privately held manufacturer of railroad, vehicular, building, and general industrial products. He will remain a member of the board of directors for Amsted Industries.

Prior to joining Amsted Industries, through its acquisition of Varlen Corporation in August 1999, Mr. Jean had served as president and CEO of this Nasdaq-traded company, a leading manufacturer of engineered components for transportation markets.

Mr. Jean, 58, holds a B.S. in engineering physics from the University of Maine and a M.B.A. from the University of Chicago.

Mr. Jean replaces Vernon E. Oechsle who previously announced his intent to retire. Mr. Oechsle will continue as chairman of the board for a brief transition period.

Quanex is a technological leader in the production of value-added engineered steel bars, aluminum flat-rolled products, and engineered, formed-metal products for transportation, capital equipment, homebuilding and remodeling, food packaging, defense, and other industries. The company was founded in 1927 and its stock is listed on the New York Stock Exchange under the symbol NX.
SOURCE Quanex Corporation
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CONTACT: financial, Jeff Galow, 713-877-5327, or media, Marianne Gooch, 713-877-5389, both of Quanex Corporation
CAPTION: NXLOGO QUANEX CORPORATION LOGO Quanex Corporation logo. (PRNewsFoto)[HD] HOUSTON, TX USA 05/17/1999