Listing: TSX Venture
Exchange
Symbol: DNX
Mark Kempton to
lead newly-formed Semiconductor Device division; Keith Maris joins as COO
LINCOLN, England, Oct. 25, 2017 /CNW/ - Dynex Power Inc.
(TSXV: DNX), a leading, high power semiconductor company, today
announces the following changes to the Senior Management Team,
which are effective from November 1,
2017:
Mark Kempton, currently Director
of Operations, has been appointed to lead the newly-formed
Semiconductor Devices division, as Business Unit Director. In this
role, Mark will assume responsibility for all of the company's
business and commercial activities for the Dynex range of
semiconductor products. He will have profit and loss responsibility
for the division that designs and manufactures IGBT, Bipolar and
Advanced Modules, as well as the company's die and foundry
services.
Keith Maris is appointed to the
role of Chief Operating Officer, with responsibility for the
company's manufacturing operations, and operational purchasing and
quality functions. Keith joins Dynex from Rolls-Royce plc (RR),
where he has held operational roles of increasing responsibility
over the past 11 years. Most recently, he was RR's Manufacturing
Executive responsible for 4 production sites in Derbyshire and Nottinghamshire, UK. Keith has also run a
Rolls-Royce joint venture in Xi'an,
China, as General Manager.
Both positions will report directly to the President and
CEO.
Commenting on the changes, Clive
Vacher, President and CEO of Dynex, said, "The restructuring
of Dynex into two divisions – Semiconductor Devices and Power
Assemblies – is a further positive development in the turnaround
journey of the company. With his in-depth product knowledge,
commercial capability and manufacturing experience, Mark Kempton is ideally suited to leading the
new Semiconductor Devices division. He will focus on developing its
strategic direction, as Dynex continues to release industry-leading
new products, and on improving the financial performance of the
core areas of our business.
"I am also delighted to have secured the services of
Keith Maris as COO. Keith brings
with him a wealth of manufacturing experience and a consistent
track record of operational improvements. I have no doubt that he
will build on the excellent work already done by Mark Kempton in Operations, and continue the
journey towards world-class performance and product quality."
The Chairman of Dynex, Liu Ke'an,
added, "These changes will help to further accelerate the ongoing
turnaround of Dynex. Clive Vacher
has been focused on building the highest-quality leadership team,
and this represents another significant step towards that goal. I
wish both Mark and Keith well in their important new leadership
roles."
Forward-looking Statements
In commenting on its
expectations, the Company cautioned existing and potential
shareholders about relying on the Company's expectations in that
the Company's expectations contain forward looking statements and
assumptions which are subject to the risks and uncertainties of the
markets and the future, which could cause actual results to differ
materially from expectations, and which are each difficult and
subjective to forecast. Certain of those risks and uncertainties
are discussed in the Management's Discussion and Analysis for the
quarter ended March 31st , 2016 and
include, among other things, risks and uncertainties relating to:
the level of worldwide demand for power semiconductors and power
semiconductor assemblies; the level of investment in power
electronic equipment, electrification of transport systems,
alternative power generation and high quality power transmission
and distribution; and fluctuations in exchange rates between
Canadian Dollars, Sterling, US dollars and Euros. As a consequence
of these and other risks and uncertainties, shareholders and
potential investors must make their own independent judgments about
the accuracy and reliability of the Company's expectations. Dynex
disclaims any intention or obligation to update or revise any
forward looking statement whether as a result of new information,
future events or otherwise.
About the Company
Dynex designs and manufactures high
power bipolar semiconductors, high power insulated gate bipolar
transistor (IGBT) modules and die, high power electronic assemblies
and radiation hard silicon-on-sapphire integrated circuits (SOS
IC's). The company's power products are used worldwide in power
electronic applications including electric power transmission and
distribution, renewable and distributed energy, marine and rail
traction motor drives, aerospace, electric vehicles, industrial
automation and controls and power supplies. The Company's IC
products are used in demanding applications in the aerospace
industry. Dynex Semiconductor Ltd is its only operating business
and is based in Lincoln, England
in a facility housing the fully integrated silicon fabrication,
assembly and test, sales, design and development operations.
In 2008, a majority of the shares of Dynex were acquired by Zhuzhou
CSR Times Electric Co., Ltd. In April
2016 this company changed its name to Zhuzhou CRRC Times
Electric Co., Ltd.
Zhuzhou CRRC Times Electric Co., Ltd. is based in Hunan Province in the People's Republic of China. It is listed
on the Hong Kong Stock Exchange. CRRC Times Electric is mainly
engaged in the research, development, manufacture and sales of
locomotive train power converters, control systems and other
train-borne electrical systems, as well as the development,
manufacturing and sales of urban railway train electrical systems.
In addition, CRRC Times Electric is also engaged in the design,
manufacturing and sales of electric components including power
semiconductor devices for the railway industry, urban railway
industry and non-railway purposes.
Press announcements and other information about Dynex are
available at www.dynexpower.com.
Further information on CRRC Times Electric can be found at
www.timeselectric.cn/en
All monetary values expressed in this release are in Canadian
Dollars unless stated otherwise.
The TSX Venture Exchange has neither approved nor disapproved of
the information in this press release.
SOURCE Dynex Power Inc.