Dynamic Materials Names Bin Zhang Managing Director of DMC China
BOULDER, CO -- (Marketwire) -- 12/18/12 -- Dynamic Materials Corporation (DMC) (NASDAQ: BOOM) today announced Bin Zhang has been named managing director of the Company's new DMC China organization. Zhang is responsible for business development and market positioning in China for DMC's three business segments: Nobelclad, DYNAenergetics and AMK Welding.
Zhang, 50, is a native of Beijing and has 20 years of senior level business experience, much of it focused on U.S.-China corporate relations. He moved to the United States in the 1980s, and after obtaining masters degrees from Louisiana State University and Pittsburgh State University, worked with several U.S. companies in the areas of business development, applications engineering, product management, and sales and marketing.
Zhang returned to China in 1997 and spent four years in Hong Kong establishing an Asia Pacific sales and marketing presence for a Sheldahl, Inc., a specialized manufacturer based in Minnesota. He returned again in 2007, and worked for two years in Shanghai developing a China-based manufacturing operation for one of the business units of Illinois-based Molex, Inc.
"Expanding DMC's presence in China remains an important component of our long-range growth strategy," said Yvon Cariou, president and CEO. "Bin brings extensive knowledge of this large and complex market, and he has a proven track record of helping U.S. companies build successful commercial operations and market share in the country. He already has provided us with valuable consulting services, and we look forward to his ongoing contributions as a member of the DMC team."
DMC's Nobelclad explosion-welding business has had a growing presence in China for several years. Zhang will work to accelerate that expansion, and will focus on building new customer relationships, particularly among Chinese fabricators of advanced pressure vessels and heat exchangers. He also will oversee Nobelclad's ongoing efforts to establish a manufacturing presence in China.
Kevin Longe, chief operating officer and CEO designate, said, "It has become clear that there are compelling opportunities for each of our business segments in the Chinese market. The country is home to vast reserves of unconventional oil and gas, and we believe the accelerating development of these resources represents a significant prospect for our DYNAenergetics Oilfield Products business. The growing sophistication of China's industrial complex also represents a meaningful opportunity for our AMK Welding business. We look forward to leveraging Bin's knowledge and experience to capitalize on these opportunities."
Zhang noted, "The Chinese market has evolved very rapidly in recent years, and will continue to change at an accelerating pace. I am excited about working with DMC to capitalize on the Company's considerable potential in China, while also navigating the risks and complexities of its ever-changing business landscape."
Zhang will be supported by Frank Li, who recently was named Project Manager for DMC China. Li will focus principally on the organization's market communications programs.
About Dynamic Materials Corporation
Based in Boulder, Colorado, Dynamic Materials Corporation serves a global network of customers in the energy, industrials and infrastructure markets through two core business segments -- Nobelclad and DYNAenergetics -- as well as a specialized industrial service provider, AMK Welding. The Nobelclad segment is the world's largest manufacturer of explosion-welded clad metal plates, which are used to fabricate capital equipment utilized within various process industries and other industrial sectors. DYNAenergetics is an international manufacturer and marketer of advanced explosive components and systems used to perforate oil and gas wells. AMK Welding utilizes various specialized technologies to weld components for use in power-generation turbines, and commercial and military jet engines. For more information, visit the Company's websites at http://www.dynamicmaterials.com and http://www.dynaenergetics.com.
Safe Harbor Language
Except for the historical information contained herein, this news release contains forward-looking statements, including those regarding our planned expansion in, and our views as to the potential growth, of the Chinese market for our services. These risks and uncertainties include, but are not limited to, the following: our ability to successfully establish our planned presence in China, including establishing a manufacturing presence there, the development and continued growth in sophistication of China's industrial complex and potential customers of the Company's products, the rate of development of China's reserves of unconventional oil and gas, as well as general economic conditions, both domestic and foreign, impacting our business and the business of the end-market users we serve; as well as the other risks detailed from time to time in the Company's SEC reports, including the annual report on Form 10-K for the year ended December 31, 2011.
Pfeiffer High Investor Relations, Inc.