Toronto Stock Exchange Symbol: LRI
CEO resumes Canadian site management responsibilities
LAVAL, QC, Feb. 22 /CNW Telbec/ - LAB Research Inc. ("LRI" or "LAB Research") (TSX: LRI), a Canadian-based global non-clinical contract research organization, today announced the nominations of Mr. Alain Tanguay as its new Chief Financial Officer, Dr. Kabil Al-Sabti and Dr. Marta Grósz as Senior Scientists respectively in the Genetic Toxicology and inhalation Department at LAB Research Hungary. Also effective immediately, Mr Mainville, President and CEO of LRI will resume Canadian site management responsibilities.
Mr. Tanguay will be joining LRI before the end of the first quarter of 2010. He is a chartered accountant and accomplished financial executive with more than 20 years experience in senior financial positions, in companies both domestic and international involved with operations, manufacturing and distribution. Prior to joining LAB Research, Mr. Tanguay spent 10 years as Vice-President and Chief Financial Officer at Mega Brands Inc, one of the largest toy manufacturers in the world. Mr. Tanguay also worked in increasingly important financial executive positions for National-State Group, and CBCI Telecom. Mr. Tanguay will replace Louise Bussières, previously Vice-President Finance for LRI, who left the Company as of February 1, 2010 to pursue other interests.
"Alain possesses the ideal experience and skill set to complement the existing management team. He will play a key role in helping us achieve our financial performance objectives for our Canadian and European sites as well as for the whole Corporation," stated Mr. Mainville, Chief Executive Officer and President of LAB Research.
Dr. Kabil Al-Sabti joined LAB Research Hungary as Senior Scientist in the Genetic Toxicology Department after 28 years of experience in Europe, US and Canada, in Contract Research and consultancy positions.
Dr. Marta Grósz joined LAB Research Hungary as a Senior Scientist with 29 years experience in research; the last 15 spent conducting GLP compliant toxicology studies, in the areas of Reproduction and Inhalation, for European Pharmaceutical and Contract Research Companies.
"The expansion of our scientific team in Hungary is necessary to support the growth of LAB Hungary as we continue to broaden our pharmaceutical and chemical clientele following the 2007 expansion of the site and the successful OECD and FDA audits," mentioned Christopher Banks, Site Manager of LAB Research Hungary.
The Company also announces that Mr. Luc Mainville, President and CEO of LRI will resume management responsibilities for the Canadian site following the departure of Mr. Ménard, formerly President of LAB Research Canada, hired in September 2009.
About LAB Research Inc.:
LAB Research is a Canadian global non-clinical contract research organization that provides contract research services to the pharmaceutical, biotechnology, agro-chemical, petro-chemical and industrial markets. LAB Research supports the development of its customers' products from three state-of-the-art facilities located in Canada, Denmark and Hungary.
LAB Research's shares trade on The Toronto Stock Exchange ("TSX") under the symbol "LRI", with 52.7 million shares outstanding.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of LAB Research Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
SOURCE LAB RESEARCH INC.
For further information: For further information: visit LAB Research's website at www.labresearch.com, or contact: Luc Mainville, Chief Executive Officer, (450) 973-2240 (ext. 1206), firstname.lastname@example.org; Frédéric Dumais, Partner, Jasmin-Dumais Financial Communications, (514) 862-1251, email@example.com