TORONTO, Oct. 25,
2023 /CNW/ - Neo Performance Materials Inc.
("Neo" or the "Company") (TSX: NEO) announced
today that it has appointed Mr. Hua Du to its Board of Directors
(the "Board") as an independent director, effective
immediately.
![Neo Performance Materials Logo (CNW Group/Neo Performance Materials, Inc.) Neo Performance Materials Logo (CNW Group/Neo Performance Materials, Inc.)](https://mma.prnewswire.com/media/2256807/Neo_Performance_Materials__Inc__NEO_APPOINTS_HUA_DU_TO_ITS_BOARD.jpg)
Mr Du has over 25 years of executive experience in a number of
industries operating in Asian and global markets leading change in
business models, overseeing plant construction, defining strategic
plans and developing leadership teams. Mr. Du is currently
serving as the Chief Executive Officer of a biotech-based animal
nutrition business, with offices and operations across eight Asian
countries. Previously, Mr. Du served for 11 years as
President of Global Business Units and Executive Committee member
at a leading global chemicals and materials company, including
manufacturing and distribution of value added rare earth
products. There, he led several global business units with
revenues of EUR 5 billion, more than
10,000 employees, and technologies covering a wide range of end
markets. Before that, he worked at a specialty chemicals
manufacturer for 13 years, driving growth in Asia for its Electronic Materials Group. Mr.
Du graduated from Peking University in China and holds a Doctor of Philosophy (Ph.D.)
in organic chemistry from the University of
Illinois Urbana-Champaign.
The appointment of Hua Du increases the number of directors of
Neo to seven, six of whom are independent.
Claire Kennedy, Chair of the Neo
Board of Directors, said "I am delighted to welcome Hua Du to the
Board. Hua is an accomplished executive and brings a wealth of
operational and leadership experience, including in materials and
industrial chemicals, and will complement the skill set of our
current directors. We look forward to his perspectives and
contributions as Neo continues to execute on its strategic growth
plans."
About Neo Performance
Materials
Neo manufactures the building blocks of many modern technologies
that enhance efficiency and sustainability. Neo's advanced
industrial materials - magnetic powders and magnets, specialty
chemicals, metals, and alloys - are critical to the performance of
many everyday products and emerging technologies. Neo's products
help to deliver the technologies of tomorrow to consumers today.
The business of Neo is organized along three segments: Magnequench,
Chemicals & Oxides and Rare Metals. Neo is headquartered in
Toronto, Ontario, Canada; with
corporate offices in Greenwood Village,
Colorado, United States;
Singapore; and Beijing, China. Neo has a global platform that
includes 9 manufacturing facilities located in China, the United
States, Germany,
Canada, Estonia, and Thailand, as well as one dedicated research
and development centre in Singapore. For more information, please visit
www.neomaterials.com.
Cautionary Statements Regarding
Forward-Looking Statements
This news release may contain "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Generally, but not always, forward-looking information and
statements can be identified by the use of words such
as "plans", "expects", "is expected", "budget",
"scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or
the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur"
or "be achieved" or the negative connotation thereof. Specific
forward-looking statements in this news release include, but are
not limited to, the continued expansion of Neo's operations and
strategic growth plans. In making the forward-looking information
in this news release, the Company has applied certain factors and
assumptions that are based on its current beliefs as well as
assumptions made by and information currently available to the
Company. Although the Company considers these assumptions to be
reasonable based on information currently available to it, they may
prove to be incorrect, and the forward-looking information in this
release are subject to numerous risks, uncertainties and other
factors that may cause future results to differ materially from
those expressed or implied in such forward-looking information.
Readers are cautioned not to place undue reliance on
forward-looking information. The Company does not intend, and
expressly disclaims any intention or obligation to, update or
revise any forward-looking information whether as a result of new
information, future events or otherwise, except as required by law.
For more information on Neo, investors should review Neo's
continuous disclosure filings that are available under Neo's
profile at www.sedar.com.
SOURCE Neo Performance Materials, Inc.