WOOD DALE, Ill., May 15, 2019 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (“PSI” or “Company”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emissions-certified, alternative-fuel power systems, today announced that Gary Winemaster, its Founder and former CEO will retire after 34 years at the Company. The Company was founded by Gary and his father William Winemaster in 1985. During his tenure Gary served as the Chief Executive Officer and President of Power Great Lakes from 1992, which, prior to its incorporation in 2001, was the parent operating organization of the Company's business, and is currently a wholly-owned subsidiary of the Company. He ended his tenure as Company's Chief Executive Officer and President effective April of 2017 and transitioned to the role as Chief Strategy Officer focused on developing and facilitating the Company’s relationship with Weichai, its strategic investor and collaboration partner. Gary also served as the Chairman of the Board from 2001 until 2017.
"I am retiring incredibly proud of what PSI has accomplished over the years, and I have been honored to lead our Company,” said Gary Winemaster. “With the support of PSI’s strong management team, expanded product offerings and the foundation of our partnership with Weichai, I am confident PSI is in good hands and will continue to build on the growth and tradition of delivering value to its customers.”
Power Solutions International now employs over 1,000 people with nearly $500 million of product shipments in 2018. Over its history PSI has shipped over one million engines to leading global equipment manufacturers including companies like Navistar, Freightliner, Hyster-Yale and Kohler to name a few.
"On behalf of everyone at PSI we wish Gary the best in his retirement and look forward to building on the accomplishments of PSI," said John Miller, CEO.
For more information on PSI, visit http://www.psiengines.com.
About Power Solutions International, Inc.
Power Solutions International, Inc. (PSI) is a leader in the design, engineering and manufacture of emissions-certified, alternative-fuel power systems. PSI provides integrated turnkey solutions to leading global original equipment manufacturers in the industrial and on-road markets. The company's unique in-house design, prototyping, engineering and testing capacities allows PSI to customize clean, high-performance engines using a fuel agnostic strategy to run on a wide variety of fuels, including natural gas, propane, biogas, gasoline and diesel.
PSI develops and delivers powertrains purpose-built for Class 3 through Class 7 medium-duty trucks and buses for the North American and Asian markets, including work trucks, school and transit buses, terminal tractors, and various other vocational vehicles. In addition, PSI develops and delivers complete industrial power systems that are used worldwide in stationary and mobile power generation applications supporting standby, prime, distributed generation, demand response, and co-generation power (CHP) applications; and mobile industrial applications that include forklifts, aerial lifts, industrial sweepers, aircraft ground support, arbor, agricultural and construction equipment.
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