Magnum Venus Products has announced that it has restructured the company’s ownership in an attempt to expand the company and diversify its product offerings in new and existing markets.
The company has bought out shares held by Tom Hedger and announced that he will be stepping down from his role as CEO, but will remain involved with MVP in a consultative role.
MVP President & CFO, Pete Hedger said on the restructure;
The leadership, expertise and incredible knowledge that Tom has brought to MVP has been highly instrumental in shaping and guiding MVP into the company that it is today. We have seen our company grow significantly in size and have continued over the years to remain on the forefront of product and technological innovations in large part due to Tom’s commitment to not only our organisation, but the industry as well.
With its recent partnership with the Institute for Advanced Composites Manufacturing Innovation (IACMI) the company also announced it will be donating financial, manufacturing, equipment and human resources to support IACMI’s mission to reduce technical risk and develop a robust supply chain for advanced composite materials.