TORONTO, Canada, November 1, 2023 – Neo Performance Materials Inc. (“Neo”, the “Company”) (TSX:NEO), a global leader in the design, development, and processing of advanced industrial materials, today announced the appointment of Mohamad El-Mahmoud as Executive Vice President, Rare Metals, of the Company. Mr. El-Mahmoud will replace Frank Timmerman, who has left the Company to pursue other opportunities.
Mr. El-Mahmoud is a German national who left his role as business unit leader for a leading global fluid power solutions provider to lead the Rare Metals business unit of Neo. He held successively senior positions with that provider which included: (i) establishing production facilities; (ii) driving the transformation of a product offering from pure internal combustion engine (ICE) to hybrid and battery electric vehicle (BEV) technology; and (iii) overseeing 75 engineers as General Manager of the European Technical Center in Germany. Mr. El-Mahmoud has held senior leadership positions in Business Development, Engineering and Operations in various regions including North America, Europe and China. He began his career as an automotive powertrain systems designer with a power transmission belts and fluid power products provider and over the course of seven years, he played a pivotal role in expanding the company’s operations in Asia by establishing multiple plants and engineering centers in Shanghai, Seoul, and Chennai. He holds a Bachelor of Science degree in Aeronautics and Space Engineering from the Aachen University of Applied Science.
“Mohamad’s extensive experience, strong leadership skills, and ability to drive business growth will be a valuable asset to Neo. His dedication, passion, and commitment to excellence have propelled him to achieve exceptional results throughout his career,” said Rahim Suleman, President and CEO of Neo. “I would like to welcome Mohamad to the Neo family and I look forward to his leadership of our Rare Metals business unit and overall contribution to the Company.”
“On behalf of the Board and the management team, I would like to express our appreciation to Frank Timmerman for his years of service to Neo, as well as his commitment and contribution to the growth of the Rare Metals business,” Mr. Suleman added. “We wish Frank all the best in his future endeavours.”
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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 10 manufacturing facilities located in China, the United States, Germany, Canada, Estonia, Thailand and the United Kingdom, as well as one dedicated research and development centre in Singapore. For more information, please visit www.neomaterials.com.
Information Contacts
Ali Mahdavi
SVP, Corporate Development & Capital Markets
416-962-3300
Email: a.mahdavi@neomaterials.com
Jim Sims
Director, Corporate Communications
303-503-6203
Email: j.sims@neomaterials.com
Website: 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.
