Kafus Management Appointments
BOSTON - Kafus Industries Ltd. (AMEX:KS) is pleased to announce the appointment of Tony Valentine to the position of Executive Vice President and Chief Financial Officer and Lynda Murdock as Senior Vice President, Taxation, Audit and Accounting.
Tony Valentine was most recently with Enron Capital & Trade Resources of Houston, Texas, where he was appointed as a director in the finance group in 1995 and subsequently appointed Vice President in the Industrial Services Group in 1997. From 1993 to 1995 Mr. Valentine was a Vice President of General Electric Capital Services in Stamford, Connecticut. Prior to joining General Electric, Tony was an associate with Chase Manhattan Bank, New York from 1989 through 1993, and from 1984 to 1987 was a chemical engineer with the Shell Oil Company. Tony Valentine received a Bachelor of Science in Chemical Engineering from the University of Tennessee and a Master of Business Administration from the Harvard University Business School.
Lynda Murdock is a Chartered Accountant who has spent the last fifteen years in public practice as a Senior Tax Partner with KPMG of Canada. She has extensive experience and specializes in Canadian, U.S. and International taxation having completed the Canadian Institute of Chartered Accountants in-depth taxation course. Lynda has a Bachelor of Commerce Degree (Honours) in accounting from the University of British Columbia.
"We are fortunate to have people with such proven capabilities in corporate finance, industrial services, tax and accounting," said Ken Swaisland, Chairman and CEO of Kafus. "The appointments of Tony Valentine and Lynda Murdock are part of Kafus' ongoing efforts to build a world class management team to meet the challenge of Kafus' aggressive global development program through the millenium and beyond."
In addition to the above appointments, at a board of directors meeting following the company's recent annual general meeting, Ken Swaisland founder of Kafus was appointed Chairman and Chief Executive Officer and Mike McCabe was appointed President and Chief Operating Officer.
Kafus Industries Ltd. is an emerging global manufacturer of superior materials produced from sustainable resources. Kafus' current projects include the world's first medium density fiberboard manufacturing plants able to use 100% recovered urban wood waste, production of natural fiber composites to replace fiberglass and other non-recyclable materials, production of tree-free newsprint and other paper products, manufacturing of a fiber cement alternative to wood and metal siding and the conversion of animal waste into organic fertilizer. Additional information on Kafus can be obtained on the Company's website at www.kafus.com.
The foregoing contains forward-looking statements, which are subject to contingencies and uncertainties. Such forward looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could prove to be inaccurate including without limitation, the assumption that Kafus will be able to raise the necessary financing to develop its projects and that there is market acceptance for its products.
Actual events, transactions, and results may differ materially from anticipated events, transactions or results described in such statements. Material uncertainties about the future of the company exist. Kafus is subject to a number of risks and uncertainties, which are set forth in its filings with the Securities Exchange Commission.
Contact: Kafus Industries Ltd., Tony Francel, 888/333-5377 (Toll Free) or 781/326-5001, Director, Investor Relations www.kafus.com or Morgen-Walke Associates Investor Relations: John Swenson/Leigh Parrish, 415/296-7383 Media Relations: Sheryl Seapy, 415/296-7383.