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News Applied Engineering Announces Organizational Changes Bismarck, ND - March 23, 2007 - Applied Engineering, Inc. Employee Stock Ownership Plan and Trust (ESOP) purchased all outstanding shares of Applied Engineering (Applied), making it a 100 percent ESOP-owned company.
Dave Raatz was named chief executive officer. He has been with Applied since 1993 in various engineering and management roles and has served as president since 1999. Raatz has also been named to Applied's Board of Directors. Chris Billing is now the chief financial officer. Billing has been with Applied since 1991 as an accountant and controller. He will continue his roles as vice president of operations in Fargo and controller. Billing will also serve on Applied’s Board of Directors. "We thank Dwight Hinkel for his dedication and contributions over the past 20 years," Raatz said. "The new team is looking forward to continued growth and success." For more information, Dave Raatz, Chief Executive Officer, (701) 255-1137, draatz@ae-solutions.com |
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