Masan High-Tech Materials, Ho Chi Minh City, Vietnam, has appointed Hady Seyeda as Deputy CEO. This role will be performed in tandem with his role as CEO of Masan’s tungsten specialist company, H.C. Starck Tungsten Powders, in Goslar, Germany.
In these dual roles, Seyeda will be responsible for all of the group’s tungsten activities worldwide, with the exception of the ore production and processing taking place in the Vietnamese Nui Phao mine. Other focuses of this strategic leadership position will include ensuring cross-business operations optimisation, maximisation of sales opportunities and execution of strategy.
The appointment was made official at the annual general meeting of Masan High-Tech Materials, at which CEO Craig Bradshaw presented a fiscal year that included the closing of the acquisition of H.C. Starck Tungsten Powders and a strategic alliance with Mitsubishi Materials Corporation. In 2020, particularly due to the acquisition of the former, net sales increased year-over-year by 55%, equivalent to approximately €265 million.
Masan High-Tech Materials has set a goal of net sales growth of around 50% for 2021, based on the year-round consolidation of H.C. Starck Tungsten Powders, as well as higher sales and market prices.