Titomic Appoints Global Defence Specialist Dr Andreas Schwer as Chairman
Melbourne, Australia, Wednesday 1st July 2020: Leading Australian industrial scale additive manufacturing company, Titomic Limited (ASX: TTT) (“Titomic or “Company”), is delighted to announce the appointment of Dr Andreas Schwer as the Company’s new Chairman. Dr Schwer was until recently Chief Executive Officer (“CEO”) of Saudi Arabian Military Industries (“SAMI”). Through his extensive 25-year executive career within the global defence and aerospace industries, Dr Schwer brings a wealth of experience, insight and a deep understanding of the needs of Titomic as the Company moves forward into commercialisation of its disruptive additive manufacturing technology. Dr Schwer joined SAMI as their CEO and has been before the Chairman of the Board & President of Rheinmetall International at Rheinmetall Group and CEO of its Combat Systems Division with more than 5,000 employees and EUR 1,4 billion revenues. Prior to joining Rheinmetall, Dr Schwer held various executive management positions within Airbus Group and The Manitowoc Company.
Titomic Managing Director and Founder, Mr Jeff Lang commented:
“I am honoured to announce the appointment of Dr Andreas Schwer as the Chairman of Titomic. Dr Schwer joins us at this critical time as we are approaching an inflection point in the commercialisation of Titomic’s Kinetic Fusion® (“TKF”) technology for industrial-scale additive manufacturing. Dr Schwer’s extensive professional experience within the global defence and aerospace sectors will create immediate opportunities for Titomic through a shared vision to progress Titomic to become a dominant player in the USD$4 Trillion1 metals manufacturing industry for a green-tech future. In just over 2 years, Titomic has achieved significant growth and reached critical milestones, including independent scientific validation of its core TKF technology platform, the establishment of large-scale manufacturing systems, and a greenfield Titomic bureau. The appointment of Dr Andreas Schwer compliments the recent appointments of Mr Dag Stromme and Mr Humphrey Nolan to the Board of Titomic bringing the optimal mix of knowledge, skills and experience needed to provide a clear vision and strategy to deliver commercial success and maximum shareholder value.
As defence and aerospace primes realise the unique capabilities of Titomic’s Kinetic Fusion (TKF) industrial scale additive manufacturing technology, Dr Schwer’s experienced network will enable Titomic to lead a transformation of today’s metal manufacturing industry into a sustainable and green-tech industry for the future. Titomic’s TKF manufacturing process delivers faster, smarter and more efficient manufacturing solutions for high performance products across a wide variety of dissimilar metals, plastics and composites whilst also solving complex engineering challenges.
The appointment of Dr Schwer as Chairman follows an important transition at Titomic as the Company focuses on accelerating to global growth. Titomic last week commenced the process of bolstering its Board of Directors with the announced appointments of former Morgan Stanley investment banker and private equity executive Mr Dag Stromme2 and industrial logistics and distribution executive Mr Humphrey Nolan2. These highly experienced international professionals bring the deep strategic capabilities required to drive Titomic’s global commercialisation expansion to the next level.
Commenting on his appointment, Dr Andreas Schwer said:
I am honoured to accept the role of Chairman at Titomic and look forward to leading the Company to capitalise on its considerable opportunities and further add shareholder value. I believe Titomic’s industrial scale metal additive manufacturing and sustainable, green technology has tremendous commercial potential to take metal manufacturing industries into the future.
About Dr Andreas Schwer
Saudi Arabian Military Industries (SAMI)
Dr Schwer is a German national and recently resigned as the CEO of SAMI which is owned by Public Investment Fund (PIF) and governed by Saudi Arabian Crown Prince Mohammed bin Salman. He was the first CEO of SAMI and his responsibilities included managing SAMI’s operational business strategy and targets with the ambition of going from greenfield to an international player in defence. SAMI is defined as a cornerstone of the Saudi Vision 2030 programme and product segment build-up focuses on Aeronautics, Naval Systems, Land Systems, Weapons and Missiles as well as Defence Electronics.
Dr Schwer joined Rheinmetall Defence in 2012 as CEO of Combat Systems Division, at the core of the Rheinmetall enterprise overseeing their Combat Platform, Weapon & Munition, Protection System operations encompassing more than EUR$1.4 billion in revenues, 5,000 staff across three continents before becoming Chairman and President of Rheinmetall International AG in 2016 where he was responsible for defining the Company’s internationalisation strategy leading to the implementation of multiple operating companies and joint ventures in key strategic export markets such as the Middle East.
The Manitowoc Company Inc
Dr Schwer joined global equipment manufacturer The Manitowoc Company Inc in 2008 as Chief Technical Officer (CTO) and Executive Vice President of Global Engineering and Innovation before being appointed as Managing Director of Manitowoc Germany in 2011. The Manitowoc Company had 14,000 employees with USD$3.9 billion in revenue globally.
Airbus Defence & Space and Airbus Helicopters
Dr Schwer hold various leadership positions within the Defense & Space- and Helicopter Division of Airbus. As such he was appointed Director for Satellite Navigation in 1999 and Vice-President of Design and Development at Airbus Helicopters in 2005.
Dr. Schwer completed a master’s degree and PhD in aerospace engineering from the University of Stuttgart, Germany in 1997, and in 1998 attained a second master’s degree in systems engineering from the Delft University of Technology in the Netherlands.
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Certain statements made in this release are forward-looking statements and are based on Titomic’s current expectations, estimates and projections. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance” and similar expressions are intended to identify forward-looking statements. Although Titomic believes the forward-looking statements are based on reasonable assumptions, they are subject to certain risks and uncertainties, some of which are beyond Titomic’s control, including those risks or uncertainties inherent in the process of both developing and commercialising technology. As a result, actual results could materially differ from those expressed or forecasted in the forward-looking statements. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Titomic will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this release except as required by law or by any appropriate regulatory authority.
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