AdvanceCT Welcomes New Board Member Lutz Labisch of TRUMPF Inc

19 Mar 2024

Press Release, News

New Haven, Connecticut, March 19, 2024 – Today, AdvanceCT announced that Lutz Labisch, the President and CEO of TRUMPF Inc., has joined our board of directors.

The U.S.-based branch of a German company, TRUMPF Inc. is one of the largest manufacturers of fabricating equipment and industrial lasers in North America. Mr. Labisch is responsible for production, sales, and service of TRUMPF's extensive product portfolio in North America where sales exceeded $1.05 billion last year. He is also responsible for strategy and business operations at TRUMPF facilities in Connecticut, California, Illinois, and Michigan, as well as overseeing operations in Mexico, Canada and Brazil.

Prior to becoming president and CEO, Mr. Labisch was the chief financial officer of TRUMPF Inc. He previously served in other management functions at the TRUMPF Group, a technology company which generates revenues of $5.6 billion and has more than 18,000 employees worldwide.

Mr. Labisch studied as a Fulbright Scholar at the University of Michigan and earned a master’s degree in industrial engineering and business administration from the University of Karlsruhe in Germany.
"Having Lutz as part of our board will help propel Connecticut forward in one of our key Industry sectors, advanced manufacturing" said John Bourdeaux, President and CEO of AdvanceCT. “We are a manufacturing state, and Lutz Labisch is a manufacturing expert."

"Lutz brings his decades of manufacturing expertise to the table. His insights and experience will help Connecticut optimize our workforce training programs, give us more insight into the challenges manufacturers are facing, assist us in recruiting new companies to the state, and help us become a better and more welcoming manufacturing state.”

"I am proud to be part of the team helping ensure that Connecticut is business friendly and business ready," said Mr. Labisch. “In manufacturing and any business, a close and connected relationship with state and local government leadership helps us to mitigate risk and solve challenges together, and this ultimately contributes to our business growth, success and contribution to the economy. I look forward to working with the AdvanceCT team, the Connecticut Department of Economic and Community Development, and with Governor Lamont.”

TRUMPF Inc.’s North American headquarters are located in Farmington, Connecticut, where the company has a 400,000 square-foot campus and employs approximately 600 people. TRUMPF employs more than 1,600 people at several locations throughout the United States, Canada and Mexico. The company broke ground on a new cutting-edge Smart Factory in March of 2023, augmenting its Connecticut manufacturing capabilities with an extra 55,000 square feet of space.

About AdvanceCT

AdvanceCT is a business-driven nonprofit that works to engage, retain, and recruit businesses to Connecticut. AdvanceCT collaborates with the Department of Economic and Community Development (DECD) and our partners to implement high impact, equitable economic development. Our team advocates for and promotes Connecticut as a location for companies to compete and grow.

Press Contact:
Shirar O’Connor