Cymat Technologies Ltd. announces new CCO and Head of U.S. Business Development
Cymat has hired two additional engineers to provide technical sales support, supplement increased production activity, and support plant expansion and upgrading initiatives.
MISSISSAUGA — Cymat Technologies Ltd. announces the appointment of Vince Benincasa as its new Chief Commercial Officer (CCO) and David Henry as its Head of U.S. Business Development.
Vince Benincasa is an executive with experience with a global auto parts conglomorate. Vince brings to Cymat a background in sales and general management spanning the automotive, specialty chemical and engineered materials sectors. Most recently, he was the GM of a global business unit that provides proprietary chemicals principally to the automotive industry. Vince will be responsible for overseeing all of Cymat’s commercial activities including Alusion(TM), SmartMetal(TM) and its sandwich panel venture with Alucoil in Spain.
David Henry, a senior, US-based sales executive, has built a career with a global auto parts conglomerate. David was responsible for building and leading global sales and marketing teams in the automotive sector. Most recently, he was the Executive Director of Sales responsible for spearheading his company’s sales initiatives into the electric vehicle market, with particular emphasis on developing relationships with the new EV car makers. David will be responsible for driving both Cymat’s sales initiatives with these new EV OEMs as well as expanding Cymat’s AlusionTM sales network in the US.
Also, Cymat has hired two additional engineers to provide technical sales support, supplement increased production activity, and support plant expansion and upgrading initiatives.
Michael Liik, CEO, commented, “Cymat is experiencing significant growth in Alusion(TM), its architectural products division, and expects to see material expansion in SmartMetalTM sales, its automotive, military and industrial products division. With this expansion, the Company is now at a juncture where it needs to increase senior management, sales and technical teams to ensure that it can effectively execute on all of these initiatives.” “We are pleased to be able to benefit from Vinces’s diverse sales and general management experience to drive overall sales growth of the Company. We are also excited to be able to capitalize on David’s recent success in developing significant new business in the EV sector, where Cymat believes that it can achive its most significant automotive penetration,” further commented Mr. Liik.
Cymat previously announced a major capital investment program to upgrade and expand production in its current Missisauga, Ontario facility. Over the last three months, Mario DeAngelis, Cymat’s new COO, completed an extensive report on plant optimization. Cymat is pleased to announce that it has begun to implement these recommendations and expects to phase in plant upgrades, as well as capacity and efficiency initiatives, over the next 12 to 18 months. Once completed, annual production capacity will increase by approximately 50% to $75M, and Cymat will minimize production downtime while increasing manufacturing efficiency.