Dr. John Verbicky Appointed President and CEO of Envirokare
ORLANDO, Fla.--Sept. 25, 2003--Envirokare Tech, Inc. (OTCBB:ENVK) announced the appointment of Dr. John W. Verbicky, Jr. as President and Chief Executive Officer of the Company. This is the Company's first appointment of an experienced industry leader aimed at achieving the Company's goal of maximizing the commercialization of the TPF technology.In accepting this position, Dr. Verbicky stated: "I am very impressed and excited about the potential of the TPF technology and I look forward to leading the effort to help Envirokare make the most of this opportunity and to further exploit the benefits of the break-through TPF process across a wide spectrum of industry applications."
Dr. Verbicky brings to Envirokare twenty-five years of business experience in the high performance materials and plastic composites industry including most recently serving as President and CEO of Chemfab Corporation, a global manufacturer of high performance composites. During his tenure as CEO there, Chemfab grew over 60% to $125 million in revenues with presence in the U.S., Europe, South America, Japan and China. Prior to his term at Chemfab, he served as Manager in the Technology Development and Commercialization area for the General Electric Company leading a series of successful development and commercialization efforts for GE Plastics and GE Silicones.
Dr. Verbicky earned a Ph.D. Degree in Physical Organic Chemistry from the Georgia Institute of Technology and holds 26 US patents and more than 20 technical publications. He is a member of the American Chemical Society, the EPA Science Advisory Board and the Society of Plastics Engineers.
In addition, the Company announced that the size of the Board of Directors has been increased to five members to include Dr. Verbicky and Mr. George Kazantzis.
The Board, in welcoming Dr. Verbicky, also took special note of Mr. Kazantzis' service to the Company and particularly his work in bringing in Dr. Verbicky and continued efforts to bring in additional experienced senior management. Mr. Kazantzis has been appointed Chief Operating Officer of the Company to provide for his continuing role. In his response, Mr. Kazantzis said, "Envirokare has taken a major step forward with Dr. Verbicky's acceptance of this key position. His industry, technical strength and experience are exactly what Envirokare needs to drive the TPF technology into the exploding composites market."
Steve Pappas, Chairman of the Board, welcomed Dr. Verbicky saying: "Dr. Verbicky's decision to join Envirokare reinforces our belief in the opportunities provided by the TPF(TM) technology and I am confident that through his expertise, the Company will see significant advancement and that the TPF(TM) process will quickly gain industry recognition."
Envirokare, under an exclusive license, is a marketer of the state-of-the-art TPF composite technology developed by Thermoplastic Composite Designs, Inc. (TCD). The proprietary TPF process features in-line compounding, automated low-pressure material delivery system, providing high long strand survivability rate and part forming of long-fiber reinforced large structural parts. The license provides for use of the TPF technology to develop, produce, sub-license and market a wide array of products. Envirokare holds an irrevocable option to cause its ECC subsidiary to merge with TCD, pursuant to a merger agreement entered into by the parties.