Press Release
November 21, 2011
Methes Energies Welcomes New Chief Financial Officer
New York, November 21, 2011 – Methes Energies International Ltd. announced today that, Edward A. Stoltenberg, a seasoned financial executive, has joined the company's leadership team as Chief Financial Officer.
Ed joins Methes Energies with more than 35 years of experience in banking, finance and taking companies public. He started his career with Arthur Andersen and Co., in Cleveland, Ohio where he trained as a Certified Public Accountant after graduating with a Masters' Degree in Business Administration from the University of Michigan.
In his 35-year career, Ed has been the Chief Financial Officer of several companies, both publicly and privately owned. For ten years, Ed was the Chief Financial Officer and Director of Naugles, Inc., a Mexican-American fast food chain headquartered in Southern California. During Ed's tenure at Naugles, he was responsible for the company's successful Initial Public Offering. Ed left Naugles to become a Venture Capitalist, at which time Naugles held 200 units nationwide generating annual sales approximating $100 million. Ed has also had extensive international experience having lived and worked in Geneva, Switzerland and London, England, while sitting as the Chief Financial Officer of Gucci Timepieces.
Adding to his already comprehensive experience, Ed worked with Pillowtex Corporation, a New York Stock Exchange Company with $1.2 billion in sales, as well as with the owners of the Fieldcrest and Cannon brands during their reorganization and emergence from Chapter 11 Bankruptcy in May 2002. Ed was involved with this engagement for almost two years and was instrumental in developing and implementing the strategy that ultimately allowed Pillowtex to reorganize its financial affairs successfully.
"We are very fortunate to have Ed's help in guiding our business through its continued growth", said Methes Energies International Ltd. President & CEO, Michel G. Laporte. "Ed is an experienced public company CFO with a solid track record for increasing shareholders' value. He also brings with him an extensive background in operation, strategic planning and corporate governance. I am delighted to welcome Ed to Methes Energies and look forward to work with him toward our expanding agenda for 2012 and beyond."
About Methes Energies International Ltd. (“Methes International”)
Through its two wholly-owned subsidiaries - Methes Energies Canada Inc. and Methes Energies USA Ltd. - Methes Energies International Ltd. stands as a leader in the biodiesel arena with its innovative and efficient processes that are delivered to its clientele in easy turn-key solutions. These biodiesel solutions are designed for heavy users of biodiesel and diesel fuels, traditional diesel and biodiesel fuel distributors, large scale biodiesel producers, as well as entrepreneurs wishing to start a business in a dynamic sector producing and marketing their own biodiesel.
In 2007, Methes Energy Inc. introduced the Denami 600. This state-of-the-art design is the industry's first compact, fully automated continuous flow biodiesel processor that offers the flexibility of using a wide variety of feedstock options. We believe that the Denami 600 positions itself as the most reliable and cost effective method of producing quality top grade B100 biodiesel fuel, which meets or exceeds current ASTM standards. The Denami 600 can produce a total of 1.3 million gallons (5 million liters) per year. Additionally, the Denami 600 is one of the only commercially available fully automated compact units on the market today. Finally, Methes Energies provides its customers with an efficiency of scale, reliability and independence from the traditional petroleum business sector. More information can be found at www.methes.com or contact pr@methes.com.
Forward-looking Statements: This news release contains forward-looking statements related to the future financial condition and results of operations of Methes. These statements are based on current expectations and estimates about the biodiesel markets and industry in which Methes operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. Some of the factors which could cause results or events to differ materially from current expectations include but are not limited to: general economic conditions, market or business conditions; changing competitive environment; changing regulatory conditions or requirements; changing technology; and success in implementing productivity initiatives. Some of these factors are largely beyond the control of Methes. Should any factor impact Methes in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking statements made in this document are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by Methes will be realized or, even if substantially realized, that they will have the expected consequences for Methes. Readers should not place undue reliance on any forward-looking statements. Further, Methes disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrence.
|
|