Trailer manufacturer Wabash National Corp. has named Christopher A. Black to a newly-created position within the company: VP- treasurer.
Black has 12 years of corporate and investment banking experience, most recently with Firstar /U.S. Bancorp Piper Jaffray as senior VP of corporate and investment banking.
Wabash’s CFO, Mark Holden, said Black will oversee all of the company’s treasury functions. He added that Wabash hopes, given the current uncertainties in the capital markets, the creation of a corporate treasury function will "bring value to the company and to our shareholders."
Wabash has had a difficult year so far. The company, based in Lafayette, IN, watched its net sales for the second quarter of 2001 drop to $212.2 million, compared to $358.7 million for the same period last year. That created a net loss for the quarter of $10.8 million, before inventory and other nonrecurring charges, compared to net income of $7.5 million for the same period last year. It also gained a 2-year line of credit worth $100 million earlier this month.