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Doncasters Group Ltd appoints Tariq Jesrai as new chairman
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21 June 2011
Doncasters appoints Tariq Jesrai as Chairman
Staffordshire, UK: Doncasters Group Ltd., the global precision engineering group which is wholly owned by Dubai International Capital, is pleased to announce the appointment of Tariq Jesrai as Chairman, effective immediately.
Tariq has extensive Board experience, including his current role as chief executive officer of new venture TD Aerospace Partners LLC, which seeks to invest in aerospace and defence companies.
Tariq was previously chief executive officer of McKechnie Aerospace, directing the strategy, operations and integration of all McKechnie Aerospace companies. Under Tariq's leadership, McKechnie Aerospace gained significant market share, delivered exceptional financial results and became a clear leader in selected markets. During his time at McKechnie Aerospace, the company completed three successive sales between 2005 to 2010 culminating in the final sale to the Transdigm Group for $1.27 billion. Over $1billion of wealth was created for shareholders under his leadership.
Prior to joining McKechnie Aerospace, Tariq was president of Hartwell Corporation, the quick-access latching systems manufacturer, where he was appointed chief executive in 2004. Prior to that, he was the vice president and general manager for the Tedeco Division of Aeroquip-Vickers, a worldwide leader in the design, manufacture and marketing of hydraulic systems and components, and was also with Honeywell International - a Fortune 100 company - for twelve years.
Bill Ellis, chief executive officer of Doncasters, said: "Tariq's expertise will make an enormous contribution to Doncasters as we drive the business forward. Over the past two years, we have focused on efficiency improvements but we're delighted to have Tariq on board as we look to build on these foundations, growing the business both organically and through acquisitions. Our shareholder, Dubai International Capital, continues to demonstrate strong faith in the senior management team and we're pleased they support our plans."
Tariq Jesrai said: "I am very excited to be joining Doncasters and to work with its exceptional management team, which has very successfully improved the efficiency of the business throughout the downturn. I am very much looking forward to helping the Group achieve its strategic growth ambitions and deliver maximum shareholder value."
David Smoot, chief executive officer at Dubai International Capital, commented "I have personally worked with Tariq in the past and he is an outstanding leader with a great track record. He will make an invaluable addition to Doncasters' team. DIC is looking forward to working with the Group's management team to generate strong long-term growth as it enters this new phase of expansion."
Tariq graduated with honours in Mechanical Engineering from Kingston Polytechnic. He earned his MBA from Arizona State University. Additionally he completed executive management programs at Stanford University, Thunderbird School of International Management and Northwestern University.
ENDS
The Doncasters Group is a leading international manufacturer of performance and tolerance critical engineering components for a variety of end market applications. Doncasters excels in working with alloys and metals that are difficult to shape and form.
The company's unparalleled range of products and processes has been developed to offer customers a broad, vertically integrated capability. Core manufacturing processes include precision casting, forging, fabrication, machining and production of superalloys.
Key products include airfoils, structures, casings, rings, exhausts and combustion components for gas turbine applications, aerostructures and components for airframe applications, femoral knees, tibial trays, humeral stems, femoral hips and bone plates for orthopaedic applications and compressor and turbine wheels for the turbocharger market. The company offers well-developed supply chain integration solutions, delivering complex assemblies and engine-ready components to its customers.
Doncasters employs around 5,000 people across the UK, Continental Europe, USA, China and Mexico. The Group has institutionalised lean manufacturing and Six Sigma principles throughout its operations.
About Dubai International Capital LLC:
Dubai International Capital LLC is a private equity investment company established in 2004 as a wholly owned subsidiary of Dubai Holding. DIC's private equity portfolio includes market-leading companies in Europe and the Middle East. European assets include Almatis, Doncasters, Mauser and Travelodge, and the European portfolio overall has 16,000 employees and over $3.5bn in sales. Middle East assets include Ishraq, KEF Holdings and Rivoli, and the Middle East portfolio overall has 2,200 employees and over $400 million in sales. DIC has also sponsored regional investment vehicles including Jordan Dubai Capital and MENA Infrastructure Fund.
Contact Information
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Encore Communications
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Kidderminster
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