Environmental Solutions Worldwide Announces Executive Changes; New Chief Operating Officer Named In Advance Of Company's Annual Meeting On Tuesday, Sept. 12
8 September 2000
Environmental Solutions Worldwide Announces Executive Changes; New Chief Operating Officer Named In Advance Of Company's Annual Meeting On Tuesday, Sept. 12
MARKHAM, Ontario--Sept. 8, 2000--Environmental Solutions Worldwide, Inc. (OTCBB:ESWW), the developer of a high-performance environmentally friendly catalytic converter and spark plug technology, today announced key management changes, including the elevation of Chief Operating Officer Mark Nicole to the position of Chief Executive Officer, effective with the Company's upcoming annual meeting.Mr. Nicole, who joined Environmental Solutions Worldwide as COO in February of this year, will assume the duties of Bengt Odner, who was named Executive Chairman of the Board. Mr. Odner will remain in an executive capacity that will continue to involve him in the Company's management and key decision-making processes.
David Johnson, a long-time consultant within the auto industry, was named Chief Operating Officer of the Company. Mr. Johnson's function will be to oversee the production of catalytic converter substrates and new product development within the environmental sector.
Mr. Johnson, 38, brings a vast pool of experience in the automotive sector with many years of consulting fledgling companies in obtaining financing and developing strategic alliances. He was formerly a consultant for Ventura A/C Inc., in Concord, Ontario, where his duties included overall strategy planning for an import auto repair center. From 1989 to 1999, Mr. Johnson was a strategy and marketing consultant with National Warehousing Inc, in Toronto. The company's business spanned the Continental U.S. and Canada, dealing in automotive repair material and equipment handling, working with industrial leaders such as General Motors, Axzo Coatings, 3M, and Sherwin Williams. Mr. Johnson has a broad engineering/technical background with broad experience and contacts in the automotive industry. Mr. Johnson, who attended Tollgate Tech, Mohawk College and Devry Institute of Technologies, is married and the father of three children. The family lives in Toronto.
"Our new management structure will enable Mr. Odner to concentrate on negotiating strategic alliances, compliance and financing for the Company as we prepare for the commercialization of our patented catalytic converter and spark plug technology," stated Mr. Nicole. "We also are fortunate to have the expertise of Mr. Johnson in the key management position of Chief Operating Officer, as Company continues to round out its management team."
Mr. Odner, Mr. Nicole and Mr. Johnson also are the slate of nominees to the Company's Board of Directors.
Mr. Nicole said the Company's Annual General Meeting will be held at 11 a.m. EDT on Tuesday, September 12, at the Sheraton Parkway, 600 Highway 7 East, Richmond Hill, Ontario. Shareholders are asked to arrive in the Grand York A meeting hall by 10:45 a.m. Those planning an overnight stay can call Sheraton Reservations at 800/668-0101.
Mr. Nicole also said that shareholders who are unable to attend are invited to submit one (1) question via e-mail or fax that they would like answered at the meeting. Questions are to be sent to oalvares@cleanerfuture.com via e-mail or to 905/947-9924 by fax, using the subject heading "One Question for Shareholders Meeting." Mr. Nicole noted that due to the expected volume, all questions cannot be individually answered at the meeting. An audio and video broadcast will be available on the Company's Web site at www.cleanerfuture.com the day after the meeting.
Environmental Solutions Worldwide, Inc., through its wholly-owned BBL Technologies, Inc., subsidiary, is a developer of proprietary catalytic converter technology used in its prototype Enviro Cat(TM) catalytic converter, which is designed to dramatically reduce toxic emissions, including nitrous oxide, expelled by internal combustion engines. The converter requires no precious metals in the manufacturing process, making it less expensive to produce. The Company also has developed a new, highly efficient spark plug with the potential of increasing the efficiency of internal combustion engines, reducing toxic emissions while increasing fuel economy. Environmental Solutions holds Canadian patents and U.S. patent pending on its catalytic converter technology and is in the process of obtaining worldwide patent protection. The Company also holds a U.S. patent for its spark plug technology. For additional information visit the Company's Web site at (www.cleanerfuture.com ) or call Mark Nicole, CEO, or David Johnson, COO, at 905/947-9923.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"'). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.