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Seasoned Manufacturing Veteran Tim Kardish Joins APS Novastar

Jul 14, 2008

New CEOfocused on launching growth initiatives at the company

APS Novastar, LLC ("APS") announced today the appointment of Tim Kardish as Chief Executive Officer, where he will oversee all areas of operation within the company, which provides a full suite of products serving the surface mount technology industry.

Tim is a respected business leader with proven ability to generate rapid revenue growth and industryleading profitability in global manufacturing and distribution businesses. APS Chairman, Grant Gund said, "Tim is an experienced executive with a track record of creating growth by understanding customer needs and delivering innovative products and superior service."

Tim has more than 25 years of experience in sales, marketing, and operations. Most recently, he was President of Labsphere, Inc. (a subsidiary of X-Rite), a $13 million leading photonics industry global manufacturer and distributor of instrumentation, software, services, engineered materials and standards. As President, Tim had complete P&L responsibility and managed 70 employees. During his tenure as President from 2004 through 2007, the company had a compound annual growth rate of 14%.

Prior to Labsphere, Tim held the positions of Vice President of Sales and Marketing for Moore Medical and served as Director of Sales and Marketing for X-Rite. He spent the first 15 years of his career at Leica Microsystems and rose to the position of Vice President Sales and Marketing. In this role, he provided strategic direction and managed sales, marketing, distribution, and customer and technical service for two divisions totaling $80 million. Tim received a Bachelor's of Science from S1. Joseph's University where he majored in Information Systems and Marketing.

APS Novastar, LLC is a leading manufacturer oflow to medium volume surface mount assembly systems. The company sells equipment to address the three major steps in the surface mount assembly process including stencil printers, pick and place machines and various soldering products.

The company's range of equipment, whether manual or automated, is well suited to the current SMT assembly market. This market is mainly comprised of companies just converting from thru-hole to SMT production, and companies specializing in R&D/prototyping assembly. High-mix, low-volume assembly is the prevailing trend of the day.

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