Cyient, a leading consulting-led, industry-centric global technology solutions company, announced that it has significantly strengthened the leadership of Cyient DLM in a bid to expand its Electronics Manufacturing Services (EMS) capabilities.
Cyient DLM focuses on high-reliability EMS offerings and has grown significantly over the last few years with a strong outlook for the future. The industry is witnessing a significant growth driven by changing global trends and a focus on key new technologies like IoT, Industry 4.0, etc. The advancement of the China Plus One strategy, increasing need for electronics manufacturing, significant focus on the Indian market, and opportunities in Built to Spec (B2S) are key global trends that present a unique opportunity to grow Cyient DLM business.
To accelerate this mandate, Cyient DLM is strengthening its leadership and has appointed a new Chief Executive Officer (CEO) and a Chief Operating Officer (COO).
Anthony Montalbano has joined Cyient DLM as the CEO and has more than three decades of experience in Engineering and Electronics Manufacturing Services in leadership roles with top global technology companies. He has led many global initiatives for business growth, including some of the largest transactions in the industry. His rich industry experience will enable the Cyient DLM business to accelerate growth.
Ram Dornala takes on the COO mantle at Cyient DLM. He has over two decades of experience in electronics design and manufacturing, having worked with leading manufacturers. In his most recent role, Ram led strategic initiatives like increasing global footprint and EMS capability and market adjacencies for Original Design Manufacturer (ODM). As the COO at Cyient DLM, Ram will work closely with Anthony to strengthen and expand DLM operations.
Commenting on the announcement, Krishna Bodanapu, MD and CEO of Cyient, said, "With a focus on highly complex, low-volume electronics manufacturing for safetycritical segments, DLM has a unique positioning in the market. With a strengthened leadership at Cyient DLM, I am confident that we are well-positioned to leverage the global trends to build strong growth momentum for the business. There are significant synergies between Cyient services and Cyient DLM's business, with a common set of customers and a potential to realize the B2S strategy. Cyient will continue to leverage these synergies to accelerate growth."
Shares of Cyient Limited was last trading in BSE at Rs. 803.55 as compared to the previous close of Rs. 817.50. The total number of shares traded during the day was 6137 in over 984 trades.
The stock hit an intraday high of Rs. 823.75 and intraday low of 800.40. The net turnover during the day was Rs. 4960431.00.