- South Carolina plant ramp-up proceeding on time and on budget -
TORONTO, Jan. 26, 2012 /CNW/ - Innovative Composites International Inc. (TSXV: IC) (OTCQX: ICIZF), ("ICI" or the "Company"), a producer of patented protected composite materials targeting the multi-billion dollar Prefabricated Modular housing and transportation markets, reported today that it has strengthened its management team with the additions of Rubens Roque as Chief Operating Officer and Allan
Landosky as Director of Engineering.
"Both Rubens and Allan bring decades of relevant operations and
engineering experience and will help to not only ensure that the start
up of the new South Carolina facility continues to progress on time,
but also that the subsequent plant operations maximizes product quality
and shareholder value," said Terry Ball, President and CEO of ICI. "We
are fortunate to be able to add two individuals of this caliber to the
ICI team and look forward to their contributions as we continue to
execute our business plan. Additionally, we are pleased to report that
preparations for the start-up of the plant in South Carolina are going
according to plan and we look forward to commencing operations within
Mr. Roque has over 25 years of experience in plant operations, M&A and
plant start ups with companies such as Woodbridge Corporation,
BorgWarner, TRW and Fehrer Automotive, and is now joining the ICI team
as COO/General Manager for Orangeburg Operations. Most recently, Mr.
Roque was CEO for Fehrer Automotive North America where he led a major
business turnaround in US operations and was directly responsible for
the start up of a new facility in Alabama supplying parts to the
Volkswagen Chattanooga operations as well as Daimler's Tuscaloosa car
Prior to Fehrer, Mr. Roque worked for TRW as corporate master lean
officer, working with eight plants in the US, Canada and Mexico
developing the strategic direction for lean manufacturing practices and
continuous process improvement to meet company's financial and
operational results. He also participated in the start-up of plants in
China, India, Mexico, Brazil and Eastern Europe and developed new
operations strategies for the US, Europe and Latin America. Mr. Roque
will play an integral part in the execution of the recently announced Brazilian housing agreement as he is originally from Brazil and speaks fluent Portuguese.
Allan Landosky has over 30 years experience in complex system design and
engineering applications, with General Electric, General Motors and
Caterpillar. Prior to joining ICI Mr. Landosky was a manager of new
product design at Caterpillar. His responsibilities included the
introduction of significantly more efficient and environmentally
friendlier equipment to the international marketplace. Prior to
Caterpillar, Mr. Landosky was Global Validation Engineering Manager for
10 of his 23 years at GM where he worked at designing validation
activity for the new line of hybrid vehicles. His experience with
complex engineering applications and a track record in introducing new
products are a valuable addition to ICI's engineering team.
South Carolina Plant Update
ICI is pleased to report that the South Carolina manufacturing facility
is progressing on schedule and on budget. Approximately 20% of the
required equipment has arrived on site with the balance of the
machinery expected through the end of February. ICI is currently
completing minor leasehold improvements to prepare the building for the
launch of operations. The newly appointed COO of the Company, Rubens
Roque, has also begun the process of staffing the plant. A large,
qualified labour pool is available in the area and ICI does not foresee
any issues building a strong team to run the facility.
The 126,000 sq. ft. manufacturing facility is located in Orangeburg,
South Carolina, 60 miles from the Charleston ocean port and is designed
to produce approximately 5,000,000 sq. ft. of affordable housing per
annum. At full capacity, the facility will generate over 300 jobs, and
state and local authorities have assembled an incentive package
totaling approximately $17 million to attract ICI. Initial production
of the facility is scheduled for March 2012 with an official
ribbon-cutting ceremony planned for April.
About Innovative Composites International Inc.
Headquartered in Toronto, Canada, Innovative Composite International Inc. (TSXV: IC) (OTCQX: ICIZF) is a high-tech engineering and manufacturing company that is
successfully commercializing a patent protected line of
state-of-the-art Structure Lite composite products targeted at the multi-billion dollar transportation and Prefabricated Modular housing markets.
Led by a team of commercialization experts ICI has adopted a tier two
business model: It designs and manufactures game-changing products and partners with
established companies in its target markets to utilize their sales
channels for faster product roll-out.
This strategy and the superior characteristics of the products have
resulted in rapidly growing sales in both markets and opened up
opportunities that could lead to large scale contracts on an ongoing
To find out more about ICI please visit our website at: www.innovativecompositesinc.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
"Statements made in this press release include forward-looking
statements that involve a number of risks and uncertainties. These
statements relate to future events or future performance and reflect
management's current expectations and assumptions. A number of factors
could cause actual events, performance or results to differ materially
from the events, performance and results discussed in the
forward-looking statements, such as the economy, generally, competition
in its target markets, the demand for ICI's products and the
availability of funding. These forward-looking statements are made as
of the date hereof and ICI does not assume any obligation to update or
revise them to reflect new events or circumstances. Actual events or
results could differ materially from ICI's expectations and
SOURCE Innovative Composites International Inc.
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