U.S. Plastic Lumber Appoints New President
BOCA RATON, Fla. - U.S. Plastic Lumber Corp. (NASDAQ:USPL), announced today that Thomas M. McEvoy has been appointed President of U.S. Plastic Lumber, Ltd., USPL's Plastic Division located in Chicago, IL.
USPL recently announced a restructuring and realignment of its Plastic Division and that it was conducting a search for a new President. McEvoy will join USPL as President of U.S. Plastic Lumber, Ltd., which manufactures plastic lumber, packaging and other value added products from recycled plastic.
McEvoy has held several senior level positions with Armstrong World Industries, beginning with General Manager of Armstrong's Asia Pacific region (a $90 million operation). He was then promoted to Vice President, Building Products Operations in Europe, Africa and Middle East (a $250 million operation). Finally, in the late 1990's, McEvoy was promoted to Vice President of Sales for North American and Latin American Building Products Operations (a $650 million division of Armstrong). McEvoy was with Armstrong for 24 years and was instrumental in increasing market share and brand recognition. McEvoy is a graduate of Williams College and has an MBA from Emory University, Atlanta GA. He currently resides in West Chester, PA with his wife and two children.
Mark S. Alsentzer, Chairman, CEO and President of USPL, said, "We are very pleased to have recruited a individual with such an outstanding track record in the building products industry. Tom will bring an enormous amount of experience and a new vitality to our company. His many years of experience, both nationally and internationally, will be a tremendous addition to our management team."
"I am very pleased to have the opportunity to join USPL in this stage of their development. I see a tremendous opportunity to apply my experience and capabilities to an organization with such exciting and environmentally friendly products," added McEvoy.
Alsentzer added, "We believe the new organizational structure and the addition of Tom McEvoy will permit USPL to expand its national distribution network for plastic and composite products." USPL recently announced that its decking products are now offered in over 1,000 retail outlets and expects sales of its decking, packaging and OEM products will continue to grow at a very rapid pace as consumer and manufacturing demand and awareness for these products increases.
USPL develops beneficial re-use options and end-product solutions for distinct types of waste streams. The company has two main business lines: the manufacture of plastic lumber, packaging and other value added products from recycled plastic, and the operation of interrelated environmental recycling services. USPL is the nation's largest producer of recycled plastic lumber. Headquartered in Boca Raton, Florida, USPL is a highly integrated, nationwide processor of a wide range of products made from recycled plastic feedstocks. USPL creates high quality, competitive building materials, furnishings, and industrial supplies by processing plastic waste streams into purified, consistent products. USPL's products are environmentally responsible and are both aesthetically pleasing and maintenance friendly. They include such brand names as Carefree Decking(R), SmartDeck(R), RecycleDesign(TM), Trimax(R), Earth Care(TM), and OEM products including Cyclewood(R). USPL currently operates eight plastic manufacturing centers.
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "projected", "intends to" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, dilution to shareholders, lack of capital, changes in laws or regulations, the affects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest in related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release. Additional discussion of such factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in the Company's SEC filings.
Contact: U.S. Plastic Lumber Corp., Boca Raton Mark S. Alsentzer, CEO or John W. Poling, CFO 561/394-3511