Release Details
TransAct Technologies Promotes Andrew Hoffman to Senior Vice President of Operations
TransAct Technologies Promotes Andrew Hoffman to Senior Vice President of Operations
November 29, 2004
Bart C. Shuldman, Chairman, President and CEO of TransAct, said, "During his ten year career at TransAct, Andy has repeatedly demonstrated his ability to deliver efficiencies and maximize operations. We are pleased to promote him to Senior Vice President of Operations, a position that he has earned through his dedication and hard work at the Company. Andy's proven track record in operations management and strong leadership qualities make him uniquely qualified to lead TransAct's operations during this period of significant growth. Andy understands the importance of designing and implementing manufacturing controls to assure quality while reducing waste and improving margins and the Company's bottom line."
Andrew Hoffman, 47 years old, has over 23 years of experience in manufacturing, including assembly, high-speed automation and processing. Hoffman began his career at TransAct in 1994 as Director of Operations and was promoted to Vice President of Operations in 1996. During his tenure at the Company, he has demonstrated significant success in achieving the Company's objectives of prioritizing cost reductions, improving quality processes, reducing inventory and driving manufacturing efficiencies. He has managed two factory expansions, initiated demand driven material flow into manufacturing, managed operational transfer of production lines from Wallingford, CT to Ithaca, NY, implemented lean manufacturing in the factory, managed inventory levels and achieved ISO9001 certification in 1998 and ISO 9000/2000 certification in 2004.
Prior to joining TransAct, Hoffman held the positions of Director of Quality Assurance and Plant Manager at Marietta Corporation, a contract manufacturer specializing in unit-of-use packaging for the pharmaceutical and cosmetic industry. There he was instrumental in implementing changes in methodologies and mistake proofing techniques, bringing operations into regulatory compliance, initiating new quality standards and achieving 12 quality awards and certifications. Hoffman has also held various quality assurance and technical service positions at Curtice-Burns, a food processing company.
Hoffman holds a B.A. from the State University of New York at Purchase. He is a recipient of the TECH 2000 Enterprise award from the Alliance for Manufacturing and Technology for Operational Excellence.
About TransAct Technologies Incorporated TransAct (Nasdaq: TACT) designs, develops, manufactures and markets transaction-based printers under the ITHACA® and MAGNETEC® names. In addition, the Company markets related consumables, spare parts and service. The Company's printers are used worldwide to provide receipts, tickets, coupons, register journals and other documents. TransAct focuses on two core markets: point-of-sale (POS) and banking, and gaming and lottery. TransAct sells its products to original equipment manufacturers, value-added resellers and selected distributors, as well as directly to end-users. The Company's product distribution spans across the Americas, Europe, the Middle East, Africa, the Caribbean Islands and the South Pacific. For further information, visit TransAct's web site located at www.transact-tech.com.
FOR TransAct Technologies: Steve DeMartino, Chief Financial Officer, 203-269-1198 Ext. 6059 or David Pasquale, 646-536-7006, or Denise Roche, 646-536-7008, both with The Ruth Group # # # Forward-Looking Statements: The Company's forward-looking statements in this press release are subject to a number of risks and uncertainties. Risks and uncertainties include, but are not limited to, customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products and greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; dependence on third parties for sales outside the United States, including Australia and New Zealand; economic and political conditions in the United States, Australia, New Zealand, Europe and Latin America; marketplace acceptance of new products; risks associated with foreign operations; availability of third-party components at reasonable prices; and the absence of price wars or other significant pricing pressures affecting the Company's products in the United States or abroad. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.