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CVG Announces the Appointment of Christopher H. Bohnert as Chief Economical Officer and Main Accounting Officer

NEW ALBANY, Ohio, Oct. 5, 2020 /PRNewswire/ — Industrial Vehicle Group, Inc. (“CVG” or the “Company”) (Nasdaq: CVGI), a diversified industrial organization, these days introduced the appointment of Christopher H. Bohnert as Chief Economic Officer and Chief Accounting Officer as of Monday, October 19, 2020.

Mr. Bohnert will come to CVG from Calumet Specialty Merchandise Associates, L.P. in which he served as Chief Monetary Officer for Concluded Lubricants & Chemical compounds. He has a lot more than 25 several years of world wide financial leadership working experience across a huge assortment of industries which includes transportation and plastics. Prior to signing up for Calumet, Mr. Bohnert held positions as Chief Monetary Officer and Main Accounting Officer with international suppliers which include Titan Global, Silgan Plastics Company, and AB Mauri Fleischmann’s. Mr. Bohnert started his career in community accounting with KPMG LLP.

Mr. Bohnert retains a BS in Accountancy and a BSBA in Economics from the College of Missouri and an MS in Accountancy from the University of South Carolina. His management expertise encompasses Finance, Accounting, Inner Audit, Investor Relations, Treasury, Facts Technologies, Mergers and Acquisitions and group rebuilding.

According to Mr. Bohnert, it is an exciting time to be a part of CVG. “I look forward to assisting the corporation take care of by the recent economic troubles and push an increasingly differentiated customer and products portfolio,” he commented. “I am thrilled about functioning with Harold and the overall CVG crew to advance our strategic development initiatives and develop worth for our shareholders.”

“I am pleased to welcome Chris to CVG and have him lead the finance operate of our world corporation,” explained Harold Bevis, President and CEO. “Chris also has fantastic working experience in mergers, acquisitions, and cash market funding. This will support us accelerate our activities to extend the Company’s portfolio and reduce our exposure to hefty-obligation truck marketplaces.”

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About CVG

CVG, Inc. (by means of its subsidiaries) is a diversified industrial business that provides seating systems, electro-mechanical assemblies, wire harnesses, plastic pieces, engineered constructions, panel assemblies, and warehouse automation subsystems for numerous markets like the subsequent: ecommerce, e-tailing, trucking, last-mile shipping and delivery, electric powered vehicles, armed forces machines, warehouse tools, buses, building devices, agricultural cars, specialty transportation motor vehicles, mining, industrial devices and off-street recreational markets. Data about CVG and its merchandise is readily available on the net at www.cvgrp.com.

Ahead-Searching Statements

This push launch includes ahead-on the lookout statements that are issue to challenges and uncertainties. These statements generally include words these kinds of as “believe”, “anticipate”, “plan”, “expect”, “intend”, “will”, “should”, “could”, “would”, “project”, “continue”, “likely”, and very similar expressions. In certain, this push launch might include ahead-seeking statements about Company anticipations for long run durations with respect to its strategies to improve fiscal effects and improve the Firm, the future of the Company’s finish markets, which include the brief-term and prospective more time-expression effects of the COVID-19 pandemic on Class 8 and Course 5-7 North The usa truck create costs and functionality of the international design equipment business enterprise, anticipated value savings, the Company’s initiatives to handle buyer requires, natural and organic development, the Company’s strategies to concentrate on sure segments and marketplaces and the Company’s economical position or other money facts. These statements are based on sure assumptions that the Organization has made in mild of its working experience as well as its point of view on historical traits, latest conditions, anticipated long term developments and other variables it believes are suitable underneath the conditions. Actual outcomes may perhaps vary materially from the expected results due to the fact of selected hazards and uncertainties, together with but not constrained to: (i) a content weak spot in our inner handle in excess of financial reporting which could, if not remediated, end result in materials misstatements in our money statements (ii) future fiscal restatements impacting the firm (iii) normal economic or business disorders affecting the marketplaces in which the Corporation serves (iv) the Company’s ability to acquire or properly introduce new products and solutions (v) risks affiliated with conducting small business in foreign nations and currencies (vi) greater competitors in the medium- and large-responsibility truck marketplaces, development, agriculture, aftermarket, armed service, bus and other marketplaces (vii) the Company’s failure to full or efficiently integrate strategic acquisitions and the impact of such acquisitions on organization associations (viii) the Company’s capacity to recognize synergies from the reorganization of the segments (ix) the Company’s failure to properly take care of any divestitures (x) the effect of adjustments in governmental restrictions on the Company’s prospects or on its organization (xi) the reduction of business from a big shopper, a collection of lesser consumers or the discontinuation of certain professional motor vehicle platforms (xii) the Company’s capability to acquire potential financing because of to changes in the lending markets or its monetary position (xiii) the Company’s potential to comply with the economical covenants in its credit card debt facilities (xiv) fluctuation in desire rates or improve in the reference desire rate relating to the Company’s credit card debt amenities (xv) the Company’s capacity to comprehend the gains of its cost reduction and strategic initiatives and address rising labor and substance fees (xvi) volatility and cyclicality in the industrial car current market adversely impacting us, which includes the influence of the existing COVID-19 pandemic (xvii) the geographic profile of our taxable revenue and variations in valuation of our deferred tax property and liabilities impacting our productive tax charge (xviii) changes to domestic producing initiatives (xix) implementation of tax or other changes, by the United States or other global jurisdictions, relevant to products produced in one or far more jurisdictions exactly where the Company does small business (xx) security breaches and other disruptions that could compromise our information and facts systems (xxi) the impression of disruptions in our supply chain or shipping and delivery chains (xxii) litigation in opposition to us (xxiii) the influence of wellness epidemics or popular outbreak of contagious disease and (xxiv) various other pitfalls as outlined underneath the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for fiscal year ending December 31, 2019 and other filings with the Securities and Trade Commission. There can be no assurance that statements created in this press launch relating to foreseeable future events will be reached. The Corporation undertakes no obligation to update or revise ahead-searching statements to replicate improved assumptions, the event of unanticipated activities or adjustments to future operating results more than time. All subsequent prepared and oral ahead-hunting statements attributable to the Corporation or people performing on behalf of the Corporation are expressly certified in their entirety by these types of cautionary statements.

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