June 27, 2024

Construction materials industry vet joins DMC Global board

BROOMFIELD — DMC Global Inc. (Nasdaq: BOOM) has added Simon Bates to its board as an independent director.

Bates was previously the CEO of cement company Argos North America Corp. and construction products producer of GCP Applied Technologies Inc.

“We’re thrilled to welcome Simon to DMC’s board,” DMC board chairman David Aldous said in a prepared statement. “His experience and expertise in the building products industry will be invaluable as we pursue strategic initiatives designed to maximize value for DMC’s stockholders.”

The company said that Bates’ appointment “satisfies an obligation pursuant to a cooperation agreement, entered into on March 14, 2024, between DMC’s board and Bradley Radoff and his affiliate, to appoint a mutually agreed upon independent director with expertise and experience in the building products sector.”

Radoff was hired in March to identify a new independent member to join the oilfield and infrastructure services firm’s board after the retirement of former directors Robert Cohen and Richard Graff.

The board shakeup comes as DMC Global is considering selling off two of its three business units: DynaEnergetics, the company’s energy-industry services division; and NobelClad, DMC’s industrial infrastructure and transportation division.

If DynaEnergetics and NobelClad are offloaded, DMC’s remaining business unit would be Arcadia, a supplier of architectural building products.

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