Bob Engle, the president of CPV Manufacturing since 1967, is stepping down and will be succeeded by George Bonadio. Mr Bonadio is assuming the presidency after long service with CPV in a variety of capacities. Mr Engle will serve as chairman and will work at the company as a part-time consultant. CPV Manufacturing specialises in high-pressure valves and fittings, primarily in the oil and gas industries. The company still does business from the same Preston Street location in Philadelphia where it was founded in 1915.