SOURCE: Hatch & Kirk, Inc.

May 03, 2006 06:17 ET

Hatch & Kirk, Inc. Appoints Michael Korotkin as New President and CEO

SEATTLE, WA -- (MARKET WIRE) -- May 3, 2006 -- Hatch & Kirk, Inc. ("H&K") a global leader in the heavy-duty engine parts market, today announced it has appointed Michael Korotkin to the position of President and Chief Executive Officer, effective May 1, 2006. Mr. Korotkin will also join H&K's Board of Directors. Mr. Korotkin, a seasoned executive with extensive experience in H&K's business operations, has previously held positions with management consulting firms such as PricewaterhouseCoopers where he was a partner in that Firm's New York office and Marakon Associates, a leading strategic consulting firm where he was a partner based in New York. Mr. Korotkin has been acting President of H&K since May 2005.

"Joining H&K at this time is a tremendous opportunity. Our customers continue to see their busnesses expand and as a result, have mission-critical needs for a dependable source of quality after-market engine parts," said Michael Korotkin, newly appointed Chief Executive Officer. "Providing these parts to our customers on time and at a fair price is what H&K has done for over 50 years. Today, H&K continues as a leading global provider of parts for EMD, Alco, Fairbanks-Morse and Cleveland engines. And, our business is getting stronger since we completed a strategic review of our operations resulting in the disposal of our unprofitable power assembly manufacturing business. While this business (that primarily manufactured new power assemblies) was sold to an unrelated company, we remain one of the largest suppliers of both new and rebuilt power assemblies. Furthermore, all of the people, quality control facilities and purchasing power that our customers have come to know and trust remain here serving all of our customers' needs.

"We are extremely pleased to have Mike join our company as President and Chief Executive," said Robert Hoelscher, Chairman of the Board. The Board of Directors has been working closely with Mike over a long period of time and we have been impressed with his drive, ability and dedication to the values of H&K." Mr. Hoelscher went on to say that, "Mike truly understands the needs of our business from the perspective of our vendors and customers and he has successfully built upon H&K's long tradition of price, availability and quality of parts that makes us the first choice of our loyal customer base."

About Hatch & Kirk, Inc.

Founded over 50 years ago, H&K has become a leading supplier of after market engine parts for a variety of EMD, Alco, Fairbanks-Morse and GE engine types. Further, H&K is the OEM for the entire Cleveland engine line. H&K operates from facilities in Seattle and Houston and serves a worldwide customer base in the rail, marine and industrial markets. To learn more about H&K, visit or call any of our sales associates on our toll-free order line 800-426-2818.

Hatch and Kirk is not a part of nor affiliated with General Motors, Coltec Industries, Cooper Industries or Penske Corporation. EMD is a registered trademark of General Motors. ALCO/FM and Fairbanks Morse are registered trademarks of Coltec Industries. White Superior is a registered trademark of Cooper Industries. Detroit Diesel is a registered trademark of Penske Corporation.

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