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Novamerican Steel Announces Changes to Board of Directors

10/31/2008 - Novamerican Steel announces changes to its Board of Directors as part of its transition from a special-purpose acquisition company to a fully transformed Decalogue company.

Novamerican Steel Inc. announced changes to its Board of Directors as part of its transition from a special-purpose acquisition company to a fully transformed Decalogue™ company, operating as one system with a business model based on the predictability, reliability and speed of its material flow.
 
In connection with the transition, M. Ridgway Barker and Robert W. Ramage, who joined the Board in connection with the founding of Novamerican, have resigned and Martin D. Powell and Oded Cohen have joined as directors of Novamerican.
 
“Gil and I thank Messrs. Barker and Ramage for their contributions in launching and supporting our company through the first phase of our existence,” said Corrado De Gasperis, Novamerican’s CEO. “They join us in welcoming Messrs. Powell and Cohen to the Board as Novamerican continues its transformation from an acquisition company into a Decalogue based operating company.”
 
Oded Cohen has over 30 years of experience working directly with Dr. Eliyahu M. Goldratt. Since 2002, he has served as International Director of Goldratt Schools Inc. and since 2001 as the Director of TOC Europe Ltd., a professional services firm providing TOC-based solutions for its clients. From 1987 to 2001, he was a Partner at AGI – Avraham Y. Goldratt Institute, responsible for Southern Europe.
 
From 1982 to 1986, Cohen served in various capacities, including Managing Director, of Creative Output UK Ltd. Together with Novamerican’s President, Dr. Domenico Lepore, Cohen co-authored the book Deming & Goldratt, The Theory of Constraints and The System of Profound Knowledge - The Decalogue. Cohen holds a B.S. in Industrial Engineering and Management from the Israeli Institute of Technology and M.S. in Operations Research from the Israeli Institute of Technology.
 
Martin Powell brings more than 40 years of business experience to Novamerican. He began his career in the accounting profession, qualifying as a member of the Institute of Chartered Accountants in England & Wales in 1968 and attaining Fellowship status within the Institute in 1979. Since 1996, Powell has worked internationally with Dr. Goldratt in implementing the Theory of Constraints (TOC). He also serves as a Principal of Goldratt Schools, assisting in the global development of TOC expert resources.
 
From 2003 to 2006, Powell also served as Vice President of Finance for the Goldratt Group. From 1991 to 1996 he was a leading Management Development Trainer for Dale Carnegie International and later his own firm – MDP Associates. From 1964 to 1991, he served in a number of capacities with Clement Keys, Chartered Accountants and Auditors, including as Lead Partner in the Audit Practice commencing in 1975. In his new role, Powell will chair Novamerican’s Audit Committee.
 
“Our commitment to operate as a Decalogue company requires a profound knowledge of the theories and the methodology that we espouse and that our people deploy every day,” said Novamerican Chairman Gilbert E. Playford, commenting on the appointments. “We feel fortunate to add the knowledge and mentorship of Messrs. Cohen and Powell, further enabling and strengthening the board in its support of the vision and goal of our company.”
 
With its twenty-one operating locations in Canada and the United States, Novamerican Steel processes and distributes carbon steel, stainless steel and aluminum products and operates as an intermediary between primary metal producers and manufacturers that require processed metal. Novamerican also produces roll-formed steel sections and manufactures heavy equipment parts and accessories. Novamerican’s flat rolled processing capabilities include pickling, slitting, blanking, leveling, temper-rolling and cutting-to-length to precise customer specifications. Additionally, Novamerican performs many of these processing services for customers who provide their own steel.