Mayville Engineering Company, Inc. Announces Management Promotions

MAYVILLE, Wis.–(BUSINESS WIRE)–Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a
leading U.S.-based value-added manufacturing partner that provides a
broad range of prototyping and tooling, production fabrication, coating,
assembly and aftermarket services, today announced two senior management
promotions that are effective immediately.

Ryan Raber promoted to Executive Vice President – Strategy, Sales &

Raber will continue to lead the Sales and Marketing functions, refining
the sales, quotation and planning process and ensuring MEC’s market
diversity remains strong. In the Strategy role, Raber will be
responsible for the development of strategic planning, analyzing market
dynamics, competitive intelligence, measuring performance. Raber joined
the Company in 2009, and has served in several sales and marketing roles
of increasing responsibility, serving in operational leadership roles
and facilitating the MEC strategic planning process.

This promotion recognizes Ryan’s continued growth at MEC, his
outstanding business acumen, and his knowledge of and contributions to
our business. This is the well-deserved natural step in his ongoing
leadership development,” said Robert Kamphuis, Chairman, President, &
Chief Executive Officer.

Steve Mance promoted to Chief Operating Officer

In this role, Mance will be responsible for maximizing operating
performance and driving the Company’s ability to utilize Agility,
Adaptability and (re)Alignment of manufacturing capacities to support
the demand dynamics of MEC’s diverse customer base. Prior to joining MEC
in 2018, Mance had led Defiance Metal Products (DMP) for eight years.

Kamphuis explained, “Steve’s 35 years of successful leadership in
industrial companies makes him the ideal fit for the COO role at MEC.
With the integration of DMP on track, and firmly entrenched as part of
the MEC family, we are confident he will help us discover new synergies
within the expanded business and continue to advance the long-term
growth prospects of the Company.”

Overall, these strategic moves, plus a number of additional related
promotions and role changes, will streamline and focus MEC’s framework,
allowing us to continue to grow, enhance our position as the market
leader in our business, promote leadership growth and development, and
most importantly, further enhance shareholder value,” added Kamphuis.

Forward Looking Statements

This press release includes forward-looking statements that reflect our
plans, estimates and beliefs. Such statements involve risks and
uncertainties. Our actual results may differ materially from those
contemplated by these forward-looking statements as a result of various
factors, including those set forth in “Risk Factors” and “Cautionary
Statement Regarding Forward-Looking Statements” in the Company’s
previously filed registration statement on Form S-1. Important factors
that could cause actual results or events to differ materially from
those expressed in forward-looking statements include, but are not
limited to: failure to compete successfully in our markets; risks
relating to developments in the industries in which our customers
operate; our ability to maintain our manufacturing, engineering and
technological expertise; the loss of any of our large customers or the
loss of their respective market shares; risks related to scheduling
production accurately and maximizing efficiency; our ability to realize
net sales represented by our awarded business; our ability to
successfully identify or integrate acquisitions; risks related to
entering new markets; our ability to develop new and innovative
processes and gain customer acceptance of such processes; our ability to
recruit and retain our key executive officers, managers and
trade-skilled personnel; risks related to our information technology
systems and infrastructure; manufacturing risks, including delays and
technical problems, issues with third-party suppliers, environmental
risks and applicable statutory and regulatory requirements; political
and economic developments, including foreign trade relations and
associated tariffs; volatility in the prices or availability of raw
materials critical to our business; results of legal disputes, including
product liability, intellectual property infringement and other claims;
risks associated with our capital-intensive industry; risks related to
our treatment as an S Corporation prior to the consummation of the
initial public offering; risks related to our employee stock ownership
plan’s treatment as a tax-qualified retirement plan; and our ability to
remediate the material weaknesses in internal control over financial
reporting identified in preparing our audited consolidated financial
statements and to subsequently maintain effective internal control over
financial reporting. This discussion should be read in conjunction with
our audited consolidated financial statements included in the Company’s
previously filed registration statement on Form S-1. Except as required
by the federal securities laws, we undertake no obligation to update or
revise any forward-looking statements after the date on which any such
statement is made, whether as a result of new information, future events
or otherwise.

About MEC

MEC is a leading U.S.-based value-added manufacturing partner that
provides a broad range of prototyping and tooling, production
fabrication, coating, assembly and aftermarket components. Our customers
operate in diverse end markets, including heavy- and medium-duty
commercial vehicles, construction, powersports, agriculture, military
and other end markets. We have developed long-standing relationships
with our blue-chip customers based upon a high level of experience,
trust and confidence.

Our one operating segment focuses on producing metal components that are
used in a broad range of heavy- and medium-duty commercial vehicles,
construction, powersports, agricultural, military and other products.
For more information, please visit


Lisa Lahr 920-387-6051
[email protected]

Nathan Elwell
[email protected]

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