WATERLOO, ON, Jan. 28 /CNW/ - ARISE Technologies Corporation (TSX: APV
and Frankfurt: A3T), which is dedicated to becoming a leader in
high-performance, cost-effective solar technology, today announced that its
Board of Directors has appointed Board Chairman Vern Heinrichs as interim
Chief Executive Officer and President. Mr. Heinrichs will continue to serve as
Chairman of the Board.
The appointment of Mr. Heinrichs as CEO and President follows the
resignation of Bart Tichelman from those positions and as a Director of the
corporation. The Board has retained Korn/Ferry International to conduct the
search for a new CEO and President for the corporation.
"The Board wishes to acknowledge Bart's contributions to the development
and growth of ARISE since he joined us as a Director in 2000 and agreed to
step into the role of CEO and President in February 2008," said Mr. Heinrichs.
"In assuming the roles of CEO and President on an interim basis, I feel
fortunate in knowing that I will be supported by an excellent management team
across ARISE's operations."
Mr. Heinrichs has been a Director of ARISE Technologies since 2001. An
engineer and businessman, he received a B.Sc. and MBA from the University of
Toronto and worked in Shell Oil's economics department for five year,
following which he joined a leading mortgage consulting and brokerage firm in
Toronto, Ontario. After five years, he joined one of his clients, Orlando
Realty Corporation, as Executive Vice-President. During the past 35 years, Mr.
Heinrichs has pursued an international career that has included serving on the
Boards of eight technology-based companies in Canada, the United States,
England, Holland, and Switzerland.
About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated
to becoming a leader in high-performance, cost-effective solar technology. The
company operates through three divisions. The PV Cell Division manufactures PV
(photovoltaic) cells at its first manufacturing plant opened in April 2008 in
Bischofswerda, Germany. The division is developing proprietary technology with
a target of achieving a step-by-step progression to a high-efficiency level of
greater than 20 percent. The PV Silicon Division is using a proprietary method
to produce silicon at 7N+ high-purity (99.99999 percent) for PV applications,
based on a simplified chemical vapor deposition process. The division is
focusing on scaling up its process to provide ARISE with control over its
supply, costs, and quality. The PV Systems Division provides complete turnkey
PV solutions for solar farms and rooftop installations under the Ontario
Renewable Energy Standard Offer Program.
The company's shares are listed on the Toronto Stock Exchange under the
symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T.
Additional information is available at www.arisetech.com and www.sedar.com.
Certain statements in this news release may be considered to be
forward-looking. Such statements are based on management's current
expectations, estimations, and assumptions based on experience, trends, and
other factors that are subject to the significant risks and uncertainties
described in our regulatory filings. Please refer to these. Such risks and
uncertainties may include, but are not limited to, the effects of general
economic conditions, changing foreign exchange rates, actions by government
authorities, uncertainties associated with legal proceedings and negotiations,
industry supply levels, competitive pricing pressures and misjudgments in the
course of preparing forward-looking statements. ARISE assumes no obligation to
update any forward-looking statements or to update the reasons why actual
results could differ from those reflected in the forward-looking statements.
For further information:
For further information: ARISE Technologies Corporation, 65 Northland
Road, Waterloo, Ontario, Canada, N2V 1Y8, Dave Chornaby, Chief Financial
Officer, (519) 772-5732, Dave.Chornaby@arisetech.com, www.arisetech.com