Vycon Appoints New Chief Financial Officer and Executive Director
The Board of Vycon, Inc ('Vycon' or the 'Company'), the AIM listed, designer and manufacturer of high-speed flywheel based energy storage systems, is pleased to announce that Craig T. Glynn has been appointed as Chief Financial Officer and as an Executive Director of Vycon, with immediate effect. Mr. Glynn succeeds Dennis Whittler, who is retiring and has stepped down as a director of Vycon.
Craig Glynn brings to Vycon twenty-three years of extensive hands-on experience in financial management and reporting, financial and strategic planning and mergers and acquisitions. Craig most recently served as Chief Financial Officer for Hilex Poly Co. LLC (‘Hilex’), a plastics manufacturer with annual sales of $500 million, eleven manufacturing facilities and approximately 2,500 employees. Craig was instrumental in the re-capitalisation of Hilex, with private equity backing, and the subsequent purchase of the company’s largest domestic competitor, financed primarily with debt.
Craig has extensive experience in senior financial positions with start-up companies, where he gained valuable knowledge and expertise in the financing of such operations. Craig also has nine years experience with Deloitte & Touche.
Commenting on the appointment, Vatche Artinian, President & CEO of Vycon, said: “We are very excited about this appointment. Craig Glynn’s knowledge and skills will be a significant benefit to the Company. As Vycon moves forward, Craig’s expertise and input will prove invaluable, especially as our sales traction gains pace and the Company moves to its next stage of development. We are delighted to have attracted a Chief Financial Officer of such caliber. I would also like to thank Dennis Whittler for his contribution and hard work, especially in bringing the Company to a successful listing in London on AIM. We wish him well in the future.”
Craig Thomas Glynn, 47, is a partner in Galway Partnership, which owns real estate in California. There are no other matters to be disclosed in relation to Schedule 2 paragraph (g) of the AIM Rules.
VYCON is an innovator in the design and manufacturing of technologically advanced flywheel energy storage systems that enable a highly reliable, cost-effective and “Green” energy storage solution for a variety of applications. VYCON’s products are applied in the power quality markets to provide back-up power in mission critical applications and in the energy re-cycling markets for capturing and regenerating energy in crane, electric rail and distributed generation applications. VYCON is a publicly listed company on the AIM market of the London Stock Exchange and is headquartered in Orange County, Calif.
Jennings and Associates Communications, Inc
This announcement does not constitute, or form any part of, any offer or invitation to sell, allot or issue, or any solicitation of any offer to purchase or subscribe for, any securities, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment for securities, which should only be made on the basis of information contained in the admission document issued in connection with the Placing.
The issuance of securities in the Placing has not been and will not be registered under the applicable securities laws of the United States, Canada, Australia or Japan. The distribution of this announcement in other jurisdictions may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdictions.
# # #