SOURCE: Fountain Powerboat Industries, Inc.

January 22, 2007 10:00 ET

Fountain Powerboats Appoints New Executive Vice President of Operations

Expert Lean Manufacturing Consultant Takes Operations Helm

WASHINGTON, NC -- (MARKET WIRE) -- January 22, 2007 -- Fountain Powerboat Industries, Inc. (AMEX: FPB) ("Fountain"), a leading manufacturer of high performance sport boats, fish boats and express cruisers, today announced the appointment of Sam McPherson as Executive Vice President (EVP) of Operations for Fountain Powerboats, effective immediately. Mr. McPherson will report directly to Fountain President David Knight.

The position of Executive Vice President of Operations is a newly created position at Fountain and Mr. McPherson is now responsible for all aspects of operations including: engineering, purchasing, materials management, manufacturing, production planning and scheduling.

Before joining Fountain, McPherson was a senior Lean-Six Sigma Enterprise and Public Sector Consultant responsible for providing operations, enterprise, extended enterprise level Lean and Lean-Six Sigma, training and product development for key commercial, state and government clients within the state of North Carolina.

"Sam is a winner of the prestigious national Shingo Prize in manufacturing excellence as an expert Manufacturing Excellence Examiner and an expert in lean manufacturing techniques," said Reggie M. Fountain Jr., Chairman and CEO of Fountain Powerboats. "He has consulted on manufacturing and production techniques with Toyota, Mercedes-Benz, and Crown Holdings. Through his consultancy for Fountain, Sam became the lead manager in the day-to-day development and implementation of Fountain's entire production process."

"Sam's quality management and production improvements deployed through lean manufacturing techniques and applications throughout various departments have demonstrated the potential to lower labor costs, improve efficiency in materials procurement, and reduce/eliminate redundant flow of documentation," said David Knight. "He is involved in every step of our production on a daily basis and I am confident he will continue to streamline every stage of our operations."

"It has been a pleasure to work with Reggie and David," said McPherson. "Transforming Fountain's production process into a lean manufacturing practice is a significant opportunity and I look forward to continuing my work at Fountain as part of the senior management team."

Before joining Fountain Powerboats, McPherson held a number of management positions with Crown Cork and Seal, Inc. As a division manager, McPherson had full P&L responsibilities, staff accountability and coached cross-functional teams in utilizing Lean Manufacturing methodologies. During his tenure, manufacturing efficiencies improved 175 percent in all key areas with an annual cost savings to his division of $2.75 million. Prior to joining Crown Cork, McPherson held the ranks of Major, Lieutenant Colonel and J5 Director of Future Special Operations, Plans and Training for the U.S. Army Special Forces Command (Airborne) in Fort Bragg, NC.

McPherson holds a B.S. in Industrial Operations Management from the University of Alabama, Tuscaloosa.

About Six Sigma

Six Sigma is a business improvement methodology, originally developed by Motorola to systematically improve processes by eliminating defects. Defects are defined as units that are not members of the intended population. The objective of Six Sigma is to deliver high performance, reliability, and value to the end customer.

About the Shingo Prize for Excellence

For 18 years, the Shingo Prize for Excellence in Manufacturing has honored businesses and researchers through North America's premiere manufacturing award program. The Prize highlights the value of using and expanding the body of ideas and lean/world-class manufacturing practices by offering the Shingo Prize in two categories: business and research.

About Fountain Powerboats, Inc.

Fountain Powerboats, Inc., a subsidiary of Fountain Powerboat Industries, Inc., has its executive offices and manufacturing facilities along the Pamlico River in Beaufort County, North Carolina. The company designs, manufactures and sells offshore sport boats, sport fishing boats and express cruisers that target the segment of the recreational power boat market where speed, performance, safety and quality are the main criteria for purchase. These recreational boats are based upon an innovative, award-winning design enabling world class performance while using standard reliable power. There are currently 12 buildings located on 65 acres totaling over 237,000 square feet accommodating 40 to 45 boats in various stages of construction at any one time. The present plant site can also accommodate up to 300,000 square feet of additional manufacturing space. The land and buildings are wholly owned by Fountain Powerboat Industries, Inc. and its subsidiary, Fountain Powerboats, Inc. For more information, visit www.fountainpowerboats.com.

Contact Information