O.E. Powers Named Chief Executive Of Turbodyne And Worthington Compressors
A major corporate reorganization was announced by Turbodyne Corporation of Minneapolis, Minn., and Worthington Compressors, Inc. of West Holyoke, Mass. O.E. Powers, president and chief executive officer of Turbodyne, has been elected chairman of the board and chief executive officer of both companies, which are subsidiaries of Studebaker- Worthington, Inc.
Simultaneously, Mr. Powers announced the following senior management and organization changes: J.J. William Brown, executive vice president and chief operating officer of Turbodyne, has been elected president to succeed Mr. Powers in that function. He remains chief operating officer. The company's Gas Combustion and Steam Turbine Divisions and Electric Machinery Mfg. Company Division report to Mr. Brown. The corporate headquarters function of Worthington Compressors has been transferred from West Holyoke to Minneapolis and combined with the corporate staff function of Turbodyne, reporting to Mr. Powers.
"The two companies, however, will continue to operate as totally separate domestic businesses," Mr. Powers said.
A new company, Worthington- Turbodyne International, based in Brussels, Belgium, is formed to administer expanded sales, marketing, and manufacturing programs of both companies abroad. G.W. Hands, vice president and chief financial officer of Turbodyne, has been elected president of the international company, also reporting to Mr. Powers. "International sales of Worthington Compressors and Turbodyne products have become increasingly important to our total business," Mr. Powers said in announcing the reorganization. "The combining of the two companies under a single management provides the opportunity to develop an extensive international presence where growth potential for our products is the strongest." Turbodyne, a leading manufacturer and marketer of power generation and energy conversion equipment, has manufacturing plants in Minneapolis and St. Cloud, Minn., Wellsville, N.Y., and Fairfield, N.J. Worthington Compressors manufactures and markets air and gas compressors and construction equipment, with manufacturing facilities in Holyoke, Mass., and Buffalo, N.Y.; LeBourget, Meru and Eloyes, France; Milan, Italy; Madrid, Spain; and Rio and Campinas, Brazil.
The combined companies are expected to report 1976 sales of approximately $320 million.