Smith-Midland Board of Directors – GuruFocus.com
Rodney I. Smith leaves the board of directors
MIDLAND, VA/ACCESSWIRE/January 20, 2022/ Smith-Midland Corporation (NASDAQ: SMID) provider of innovative, proprietary and patented high-quality precast concrete products and systems announces the retirement of Rodney I. Smith and the appointment of Ashley B. Smith as Chairman of the Board of administration. Ashley will continue in his current position as President and CEO of Smith-Midland.
Rodney I. Smith, the forward-thinking second-generation leader of the Smith-Midland Corporation, stepped down this week after 62 years of innovative leadership that helped shape what Smith-Midland is today. Mr. Smith was at the forefront of the precast concrete industry creating new products and services including Concrete Safety Systems, a barrier rental business and Easi-Set Worldwide, a precast licensing subsidiary. Barrier rental generated nearly $7 million in revenue in 2020, and today, with multiple precast products and services, Smith-Midland Corporation is a leader in the precast concrete industry.
“I am confident in Ashley’s exceptional leadership,” Rodney I. Smith said. “During his 37 years at Smith-Midland, he has created an impressive culture of safety, continuous improvement and historic growth. Ashley has carried on the family legacy of innovation and I am confident he is well prepared for the position of Chairman of the Board of Directors and will continue to work hard to generate long-term return for Smith-Midland shareholders,” continued Rodney.
“Smith-Midland is where we are today thanks to the hard work of my father and grandfather. We are proud of our heritage and focused on our future,” said Ashley B. Smith, Chairman, President and CEO. CEO of Smith-Midland Corporation. “I believe the company’s best days lie ahead as we continue to grow in scale and share in our end markets. We will continue the legacy of hard work and dedication to develop differentiated products. , patented and proprietary. I am proud to work with the incredible team we have here and continue to drive the business forward in a way that creates value for all Smith-Midland stakeholders.”
Smith-Midland is well positioned to take advantage of industry tailwinds with a strong portfolio of differentiated, patented and proprietary products including SlenderWall, Easi-Set Buildings, SoftSound and JJ-Hooks interlocking highway barrier systems. Through traditional sales and a network of over 75 licensees, the company serves markets across North America as well as internationally.
About Smith-Midland Corporation
Smith Midland develops, manufactures, licenses, leases and sells a wide range of precast concrete products and systems primarily to the construction, transportation and utility sectors. The management and the board of directors own approximately 17.5% of the shares of SMID, which corresponds to the values of the shareholders.
Smith-Midland Corporation has three manufacturing plants located in Midland, Virginia, Reidsville, North Carolina and Columbia, South Carolina, and a safety gate rental business JJ Hooks, Concrete Safety Systems. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including JJ Hooks and SlenderWall, and provides diversification opportunities for the precast industry worldwide whole. For more information, please call (540) 439-3266 or visit www.smithmidland.com.
Media, Licensing and Sales Inquiries:
Steven Hooser or Deidra Roy
Three-Part Advisors, LLC
THE SOURCE: Smith-Midland Corporation
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