WATERLOO, ON, Oct. 13 /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 the
appointment of Peter Currie to its Board of Directors.
Mr. Currie's 35-year career in finance and accounting has included more
than 15 years as a Chief Financial Officer, including at North American Life
Assurance Company (1992-1994), Nortel Networks Corporation (1994-1997), Royal
Bank of Canada, where he was Vice-Chairman and CFO (1997-2004), and Nortel
Networks (2005-2007), where he was brought back to take a lead role in
resolving the accounting and reporting issues confronting the corporation.
"ARISE Technologies is very fortunate to have been able to attract an
individual of Peter Currie's outstanding experience, accomplishments, and
reputation in the Canadian and international finance and accounting
profession," said Vern Heinrichs, Chairman of the Board.
"Mr. Currie also brings to us a wealth of knowledge about growing,
operating, and financing a global high-technology leader gained as a senior
Nortel Networks executive, where he spent approximately 18 years in three
stages of his career. In view of our expectations for rapid growth in ARISE's
business in Canada and internationally, Mr. Currie's knowledge and guidance to
our Board and management team should prove very valuable in the coming years,"
Mr. Heinrichs said.
Mr. Currie began his career at Procter & Gamble Inc., in Toronto, holding
progressive financial management roles in the 1970s. He joined Nortel Networks
Corporation (then known as Northern Telecom Limited) in 1979 as Assistant
Controller. Taking on increasing responsibilities in audit and control
functions, he was appointed Vice-President, Finance for Nortel's Canadian
operations in 1987, and Vice-President and Controller for the corporation in
In 1992, he left to become Executive Vice-President and CFO of North
American Life Assurance Company. He rejoined Nortel in 1994 as Senior
Vice-President and CFO, a position that he held for three years until becoming
Vice-Chairman and CFO of Royal Bank of Canada in 1997. During his time at the
Royal Bank, Mr. Currie, in 2003, was selected as the CFO of the Year by the
annual awards program that recognizes excellence in that position.
He rejoined Nortel again in 2005 where through 2007 he led the
undertaking to resolve the corporation's substantial accounting, reporting,
and regulatory issues, provided strategic counsel to the senior leadership
team and Chief Executive Officer, and was responsible for all worldwide
accounting, financial planning, treasury, investor relations, merger and
acquisitions, and real estate operations.
Mr. Currie holds a B.A. (Economics) and an M.B.A. (Marketing and General
Management) from York University. He is a Director of Affinion Group Inc.,
Atomic Energy of Canada Limited, Canadian Tire Corporation, and Intelius Inc.,
and is a Member, Board of Governors, Executive Committee, and Chair, Finance &
Audit Committee, at York University, for which he also is a Director of York
University Development Corporation.
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 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 purity) for PV cell
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 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