Kent Niederhofer Joins Ricardo, Inc. as VP Finance


VAN BUREN TWP., Mich., Dec. 3 -- Ricardo, Inc. today announced the appointment of Kent Niederhofer as the company's Vice President of Finance. With a career spanning 25 years in senior level engineering, operations and finance positions, Niederhofer brings to Ricardo broad-ranging experience in the automotive, off-highway and engineering testing services sector.

Niederhofer joins Ricardo from his previous position as CFO and Vice President of Finance and IT at AxleTech International, Inc., a $400 million, private equity-held manufacturer of axles, brakes and drivetrain components for the off-highway and heavy equipment industry. Prior to this he held positions respectively as CFO and Vice President of Gentek, Inc. and before that, as Director of Manufacturing, Strategy and Finance for global automotive Tier 1 supplier, Visteon Corporation. Niederhofer received his MBA in Finance & Operations from Northwestern University's Kellogg School of Management, and holds a BA in Physics and a BS in Mechanical Engineering from Geneseo State University and the University of Buffalo, respectively. In his new role as VP of Finance, Niederhofer will report directly to Ricardo, Inc. President, Dean Harlow and will be responsible for the company's finance and IT teams.

Commenting on this appointment Ricardo, Inc. president, Dean Harlow, said: "Finance and IT are crucial functions in any successful business, and it is important that we can attract the best talent to our company for the benefit of both its customers and shareholders. Kent Niederhofer brings considerable experience in these areas from some of America's leading industrial companies, and I look forward to the positive contribution he will make to the future development of Ricardo, Inc."

With technical centers and offices throughout Europe, the U.S. and Asia, Ricardo is a leading independent technology provider and deep-content strategic management consultant to the world's transportation sector industries. The company's engineering expertise ranges from vehicle systems integration, controls, electronics and software development, to the latest driveline and transmission systems and gasoline, diesel, hybrid and fuel cell powertrain technologies. Its customers include the world's major automakers, tier 1 suppliers and leading motorsport teams. The headquarters of Ricardo's U.S. operations, Ricardo, Inc., is located at Van Buren Township, Michigan. The company's skill base represents the state-of-the-art in low emissions and fuel-efficient powertrain technology, and can be best summarized: "Ricardo is Fuel Economy." Ricardo plc posted sales of $342 million in financial year 2007 and is a constituent of the FTSE techMark 100 index - a group of innovative technology companies listed on the London Stock Exchange. For more information visit www.ricardo.com.

Source: Ricardo, Inc.

CONTACT:
Anthony Smith,
Ricardo Media Office,
+44-1273-382710,
media@ricardo.com;

Jeremy Burne
of NSJ International, Inc,
+1-248-822-3977,
Jbftauto@aol.com,
for Ricardo, Inc.

Web site: www.ricardo.com/

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