OAK BROOK, IL, March 14 /CNW/ - Primary Energy Recycling Corporation (the
"Company") (TSX: PRI.UN) announced today that Mr. Lorie Waisberg has been
unanimously appointed to its Board of Directors to fill the vacancy left by
Mr. Brian T. Vaasjo, who resigned from the Board effective February 29, 2008.
Mr. Waisberg joins the Board of Directors currently comprised of:
- A. Michel Lavigne, Chairman
- Christopher H. Pickwoad, Chair of the Audit Committee
- Celia Cuthbertson, Chair of the Corporate Governance and Compensation
- John D. Prunkl, President of the manager of the Company
"I am very pleased to welcome Lorie Waisberg to our Board of Directors,"
said Michel Lavigne, Chairman. "Lorie is a successful attorney and businessman
with a strong track record in the steel industry, governance and working with
public companies. His participation on our Board will provide additional
financial expertise and business acumen to help the Company increase its
leadership position and enhance shareholder value."
Mr. Waisberg is also a director of Chemtrade Logistics, Keystone North
America and Metalex Ventures. In addition he has served on the boards of
fifteen other Canadian public companies over the past ten years including
Co-Steel, Microcell Telecommunications, Centredfund Realty and Harris Steel.
Mr. Waisberg received a B.A. and M.A. in History and an LL.B from the
University of Toronto, and an LL.M. from Harvard.
The Company also announced today that, in addition to the current five
directors appointed to the Board, Mr. Rodney Boulanger will be nominated for
election to the Board of Directors at the upcoming annual general meeting of
shareholders scheduled for April 24, 2008. Mr. Boulanger was appointed as a
member of Primary Energy Recycling Holdings LLC effective today to fill the
vacancy resulting from the resignation of Mr. Charles Bayless.
"I am very enthusiastic about the prospect of having Rodney on the Board
and cannot recommend him more strongly to our shareholders," said Michel
Lavigne, Chairman. "Rodney has a very unique record of success with some of
the most sophisticated energy projects in the world. His leadership and broad
line and staff experience in the energy sector will be a welcomed addition to
the Board's pool of talent. I am confident his contributions will have an
impact on our efforts to more fully harness the growth opportunity in the
recycled energy sector."
Mr. Boulanger has seventeen years of experience as a CEO and another
twenty-four years of experience in executive management with a unique record
of success in cutting-edge energy projects. He is currently the President and
CEO of Midland Cogeneration Venture and was formerly CEO of the Great Plains
Coal Gasification project and CMS Generation. Mr. Boulanger holds a B.S. in
Accounting from Ferris University and an MBA from the University of Detroit.
When used in this news release, the words "anticipate", "expect",
"project", "believe", "estimate", "forecast" and similar expressions are
intended to identify forward-looking statements. Such statements are subject
to certain risks, uncertainties and assumptions pertaining, but not limited,
to operating performance, regulatory parameters, weather and economic
conditions and the factors discussed in the Company's public filings available
on SEDAR at www.sedar.com. These forward-looking statements are made as of the
date of this press release and the Company assumes no obligation to update or
revise them to reflect new events or circumstances.
For further information:
For further information: V. Michael Alverson, Chief Financial Officer,
Primary Energy Ventures, (630) 371-0639, firstname.lastname@example.org