Cymat: new senior management and plant optimization capital investment
The Company will invest approximately $2 million to upgrade and modernize its Mississauga Ontario plant.
Technology / IIoT
MISSISSAUGA — Cymat Technologies Ltd. has announced the appointment of Mario DeAngelis as its new Chief Operating Officer. In addition, Cymat announces that it has recently initiated an investment program to increase both plant capacity and efficiency, as well as improve production reliability.
Mario DeAngelis is a professional engineer and international automotive executive. Mario was most recently responsible for the European operations of a North American automotive parts company with responsibility for 7 plants across the continent.
Cymat’s has launched this capital investment program in anticipation of growth in all of its three major commercial verticals: architectural products, automotive and military.
The Company will invest approximately $2 million to upgrade and modernize its Mississauga, Ontario plant and to facilitate various R&D/product development initiatives. The company expects this investment will gradually increase the plant’s output to approximately $75 million as well as deploy automation and new technology to improve its overall cost structure.
The Company’s production upgrades will address equipment reliability issues that have intermittently hindered Cymat’s operations in the past.
“I am excited to have a person of Mario’s calibre and experience join us at such a critical juncture in the Company’s evolution,”said Cymat CEO, Michael Liik, in a company statement.
“We are currently in the midst of recruiting other seasoned executives in the commercial area to assist with our growth initiatives and Mario will be instrumental in the Cymat team’s successful execution of its major capital program.”