VANCOUVER, Jan. 16 /CNW/ - Precision Assessment Technology Corporation
("PATC" or the "Company") announced today that is has appointed Kimmo Sjoroos
as Interim CFO.
Kimmo Sjoroos is a MBA graduate of the Northwestern University Kellogg
School of Management and has more than 20 years of proven experience which
includes strong domestic and international financial experience in
acquisitions, deal structuring and negotiations. He led 13 US, European and
Asian acquisition projects valued in the aggregate of over $1 billion US.
Kimmo has also led smaller firms, focusing on improved cash flows and
aggressive working capital management through streamlining, implementation of
new techniques and technology and disciplined management. Kimmo has served in
senior financial executive roles ranging from VP-Finance for Cicor
International, a major supplier to the aerospace industry, to CFO and
Treasurer of Envirovac Incorporated, a $56 million US international
John Spisak, PATC-US' President and CEO stated that "Mr. Sjoroos brings
the breadth and depth of diversified financial management experience with a
stellar and proven track record of accomplishments that will help drive PATC
toward its goal of becoming one of the leading drilling service providers in
North America. He greatly bolsters the executive team and will provide the
strength needed to achieve this goal."
Kimmo has been engaged through the Tatum Group.
About PATC - PATC provides drilling services for site assessment and
remediation and groundwater assessment, monitoring and mitigation in the
United States. These services are provided using specialized and innovative
drilling and sampling equipment and technologies from offices in California
and Florida. Precision Assessment Technology Corporation operates through its
wholly owned U.S. subsidiaries, Precision Sampling, Inc., Trenchless
Specialties Inc. and BC2 Environmental Corp. Further information can be found
at www.patc-usa.com. PATC's common shares are listed on the Toronto Stock
Exchange under the symbol "PDT".
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding future plans and objectives of PATC are forward-looking statements
that involve various risks and uncertainties. Forward-looking statements in
this document are often, but not always, identified by the use of words such
as "anticipate" and "intend" and statements that an event or result "will"
occur or be achieved and other similar expressions. There can be no assurance
that such statements will prove to be accurate; actual results and future
events could differ materially from those anticipated in such statements.
For further information:
For further information: Tony Kirschner, Vice President, Corporate
Development, PATC, Tel: (604) 669-3373 (Ext. 208)