Nuplex names Holcim's Clive Cuthell as new CFO as Ian Davis retires

Tuesday 28th October 2014

Nuplex Industries, which last week announced the sale of two Australasian units to focus on global resins, named Holcim Australia's Clive Cuthell as chief financial officer, replacing Ian Davis.

Davis will retire at the end of the year after more than five years with the specialty chemicals company, Auckland-based Nuplex said in a statement.

"I am pleased to welcome Clive to Nuplex as we embark on the next phase of Nuplex’s journey as a dedicated global resins business," said chief executive Emery Severin.

Cuthell has been CFO at cement maker Holcim Australia for five years.

Last week Nuplex said Axieo, an investment vehicle of Sydney-based Champ Private Equity, will buy Nuplex Masterbatch, the plastic additives business, and Nuplex Specialities, the distribution business for A$127.5 million. Nuplex would use the funds to repay debt and possibly make a capital return, it said.

Shares of Nuplex fell 1.5 percent to $3.20 and have declined 4.4 percent this year.

BusinessDesk.co.nz

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