Tri-Lite Names New President, Plans to Move Some Jobs to Mexico
Tri-Lite Inc. announced several management changes and a downsizing at its Orange County manufacturing plant.
Lawrence A. Terkel, president and chief executive officer of one of the company’s subsidiaries, has been promoted to president and operating chief of Tri-Lite, which designs and manufactures lighting equipment.
Terkel will continue to oversee NL Corp. in Cleveland, Ohio, which makes custom-designed commercial lighting fixtures. He is assuming a position formerly held by Alvin Katz, who remains chairman and chief executive officer of Tri-Lite. “I am not a one-man show,” Katz said in an interview Wednesday, adding that the company’s recent growth demanded a larger management team. Terkel could not be reached for comment.
In addition, the company named David McCormick to the position of vice president of finance. McCormick was formerly director of financial analysis and planning for Flying Tiger International Airlines.
Katz said the company would soon move some of its manufacturing operations to Juarez, Mexico. The company now has 35 people working at its facility in Irvine, but that number will be reduced to about 15.
In an unrelated event, Chaim Markheim, who is chief operating officer of Tri-Lite’s majority shareholder, Irvine-based Helionetics Inc., resigned as a director of Tri-Lite. Katz also resigned from Helionetics’ board of directors because the two companies felt there was a conflict of interest.
Tri-Lite stock gained 38 cents per share to close at $2.38 in trading on the American Stock Exchange.