OTTAWA, Jan. 27 /CNW/ - The Board of Directors of Seprotech Systems
Incorporated (TSX-V: SET; "Seprotech" or the "Company") today announced
its Chairman Jordan Grant has been appointed as the Company's Chief
Executive Officer. Martin J. Hauschild has stepped down as President
and Chief Executive Officer, and as a Director of the Company,
effective immediately. In addition, Mr. Grant is pleased to announce
that Wilf Stefan will be promoted to President & Chief Operating
Officer of the company.
Mr. Stefan, a P. Eng., joined Seprotech in 2005. Coming from the oil &
mining industries he was initially hired to head up marketing and sales
to the resource sector. Subsequently, Mr. Stefan became VP Operations,
managing the Company's production and service delivery, giving him a
well-rounded knowledge of all aspects of the operation. "I welcome Wilf
in his new role as President & COO and we look forward to his steady
hand as the company undergoes the transition from a boutique supplier
of specialized systems to a market-leading provider of small- to
mid-sized water and wastewater package plants", said Mr. Grant. "This
move rounds out a strong senior management team consisting, in addition
to Mr. Stefan, of our new CFO, Ian Malone, and our Vice-President of
Finance & Corporate Development, Matt Anderson. We expect to be making
announcements soon regarding additions to our Board of Directors."
Mr. Grant expressed his thanks to Mr. Hauschild for his service to the
company through a difficult economic environment. "Under Martin's
direction, the company has developed several proprietary
state-of-the-art treatment technologies and is well-positioned to
monetise this intellectual property in a number of growing markets."
Mr. Hauschild will continue to pursue certain strategic business
opportunities in support of the Company's sales efforts.
Mr. Grant stated that Seprotech's top priorities are to focus on sales
and to restore the Company's balance sheet by raising additional
working capital. "The Company has a substantial sales pipeline that
must be converted into firm orders. In support of sales, marketing
initiatives are being implemented by our new Director of Marketing and
Sales, Kevin Bloodworth to improve our sales tools and expand our rep
network. This includes a new Company website.
"The next priority is to enhance the company's product offerings with
additional solutions targeted to the same market segments currently
served by the well-proven Rotordisk package sewage treatment plant,"
continued Mr. Grant. "Finally, completing the roll-out of the
patent-pending Crystal Blue membrane bioreactor is expected to give us
a competitive advantage in locations where there is a demand for water
recycle systems. With all of these initiatives in place, we should be
in a strategic position to become a major force in our segment of the
Seprotech is a provider of pre-engineered water and wastewater treatment
plants to the land development, resource sector and military market
place, including CrystalBlue™ membrane-based water recycling systems
and the ROTORDISK® wastewater treatment systems.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
The TSX Venture Exchange has neither approved nor disapproved of the
information contained herein. Some of the statements in this press
release, including those relating to the Company's strategies and other
statements that are predictive in nature, that depend upon or refer to
future events or conditions, or that include words such as "expects",
"anticipates", "intends", "plans", "believes", "estimates" or similar
expressions, are forward-looking statements within the meaning of
securities laws. Forward-looking statements include, without
limitation, the information concerning possible or assumed future
results of operations of the Company. These statements are not
historical facts but instead represent only the Company's expectations,
estimates and projections regarding future events. The Company does not
undertake any obligation to update or release any revisions to these
forward-looking statements to reflect events or circumstances after the
date of this presentation or to reflect the occurrence of unanticipated
events, except as required by law.
SOURCE Seprotech Systems Incorporated
For further information:
Mr. Matthew Anderson, Vice-President Finance and Corporate Development
Tel: (613) 523-1641
Fax: (613) 731-0851