Nuplex has taken a major step in forming its new operational structure with the appointment of a new general manager, as the resin company's share price continues to bounce back.Clive Deetlefs has been named as Nuplex's new group general manager of operat
Nuplex has taken a major step in forming its new operational structure with the appointment of a new general manager, as the resin company’s share price continues to bounce back.
Clive Deetlefs has been named as Nuplex’s new group general manager of operations and will take on the top job at the start of March as part of the company's corporate reshuffle.
The resin manufacturer – which is still clawing back from a catastrophic drop in demand 14 months ago – announced last month it was splitting its operations into two business divisions, each reporting to a chief operating officer.
Mr Deetlefs’ new role will be based in Sydney and see him lead Nuplex’s operations team, with functional responsibility for manufacturing efficiency, as well as direct responsibility for process control and a near-term emphasis on plant design and construction.
Mr Deetlefs is currently global Six Sigma and lean manufacturing lead for Monsanto Company, based in Missouri, USA. During nine years with Monsanto, he has also held senior roles in Melbourne and Singapore.
John Hirst, who announced in November his intention to retire as managing director after more than four decades with the company, said Mr Deetlefs’ experience would enable him to be a key driver of the next stage of Nuplex’s international growth.
The company’s focus on that growth follows a horror year for the company, which saw its stock price plummet in the wake of the lost demand.
But it has been steadily rising since the completion of its capital raising towards the end of last year.
A recent upgrade of its earnings forecast saw its stock reach a price that was double that of a year ago, and it has continued to slide upwards, with another 19c gain since Friday to sit at $3.39 today.
