CarbonOne Technologies has changed its name to TekModo Industries Inc. The company’s shares will resume trading on the TSX Venture Exchange at the market open on Oct. 12 under the new symbol “TEK”.
CarbonOne acquired the composites supplier in May.
In addition, TekModo announces changes to its Board of Directors and management team. The new directors bring additional experience in the manufacturing and automotive sectors, which will support the Company’s focus on manufacturing composite panels for the recreation vehicle and transportation vehicle industries as a result of its recent acquisition of the TekModo group of companies.
“On behalf of the CarbonOne Technologies team, I would like to thank our outgoing directors, Murray Flanigan, Morris Klid, Nick Deeter and Jack Khorchidian, for all of their hard work and perseverance to complete this acquisition and help launch the new TekModo Industries Inc.,” said John Proust, chairman & CEO of TekModo. “Jack Khorchidian, however, will remain in his role as chief operating officer.
“Our new directors bring a wealth of manufacturing, automotive and recreational vehicle industry experience to the company. Bill Fenech has had a distinguished career in the RV industry. Mary Wetzel, before co-founding TekModo Structures LLC, held strategic leadership roles with General Motors, Chrysler and Dodge and was inducted into the Automotive Hall of Fame in 2004. Jacob Vogel is the CEO of a leading boat manufacturing company.
“We are all very enthusiastic about TekModo’s future as we work to realize the growth potential within TekModo’s existing products and customer base, while advancing a pipeline of near-commercial products with applications across a range of industries.
“I would also like to thank Danny Lee, chief financial officer, and Rhylin Bailie, Vice President Communications & Investor Relations, for their contributions to the team, and wish them well with their future endeavours,” continued Mr. Proust.
Mr. Vincent Boon has been appointed chief financial officer of TekModo. Vince is a chartered accountant with over ten years of professional accounting experience with private and public companies focusing on financial reporting, regulatory compliance, internal control and corporate finance activities.