Mayville Engineering appoints BorgWarner executive to board

MILWAUKEE - Mayville Engineering Company (NYSE:MEC), a manufacturing solutions provider with a market capitalization of $322 million, announced Thursday the election of Tania Wingfield to its Board of Directors, effective immediately. Wingfield, who currently serves as Executive Vice President and Chief Human Resources Officer at BorgWarner, Inc., will join the company’s Compensation Committee.

The appointment increases MEC’s board to seven directors. Wingfield brings more than 30 years of experience in manufacturing, operations, engineering, supply chain and business transformation to the role. According to InvestingPro data, MEC maintains strong financial health with a current ratio of 1.67 and has been profitable over the last twelve months with earnings per share of $1.08.

"She brings deep manufacturing expertise, having led operations, supply chains and product development initiatives across global businesses," said Jag Reddy, MEC’s President and CEO, in a press release statement.

Prior to her current position at BorgWarner, which she assumed in August 2022, Wingfield held various senior leadership roles including Vice President and General Manager of the North American OE and Aftermarket business. She also served as Vice President of Integration for BorgWarner’s acquisition of Delphi Technologies.

Before joining BorgWarner, Wingfield was Vice President of Product Line Marketing, Strategic Planning and Marketing at Remy International, where she began her career in 1995. During her tenure at Remy, she held various management positions in operations, engineering, and supply chain.

Wingfield holds a Bachelor of Science degree in Computer Science and Management Information Systems from Indiana University of Pennsylvania.

Mayville Engineering Company, founded in 1945, provides manufacturing solutions across diverse end markets including commercial vehicles, construction equipment, powersports, agriculture, and military sectors. The company operates 26 facilities across nine states. Trading at a P/E ratio of 14.4, InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, part of the coverage of 1,400+ US equities.

In other recent news, Mayville Engineering Company reported its Q1 2025 earnings, revealing an earnings per share (EPS) of $0.04, which fell short of the forecasted $0.07. However, the company’s revenue slightly surpassed expectations, coming in at $135 million against the anticipated $134.52 million. Additionally, Mayville Engineering announced a definitive agreement to acquire Accu-Fab, LLC for $140.5 million, with the transaction expected to close in the third quarter of 2025. This acquisition is anticipated to enhance Mayville’s Adjusted EBITDA, margins, and Adjusted Earnings Per Share. In a separate development, DA Davidson initiated coverage on Mayville Engineering with a buy rating and a price target of $23.00. The firm emphasized Mayville’s leadership in fabricating truck and machinery components, bolstered by recent acquisitions. These developments reflect Mayville Engineering’s strategic initiatives and potential for future growth.

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