EDMONTON, Sept. 28 /CNW/ - ZCL Composites Inc (TSX:ZCL) announced today
that it is separating the positions of Chief Financial Officer and Vice
President Finance and is appointing Darin Coutu as CFO, effective October 15,
2007. Bernie Lafferty, who currently holds both positions, will continue to
serve as Vice President Finance.
"The decision to separate the roles of CFO and Vice President Finance
results from our growth, including our doubling in size following the
acquisition of Xerxes Corporation earlier this year," said Ven Côté, ZCL's
President and Chief Executive Officer. "By strengthening our financial
infrastructure, we will be better able to capitalize on new business
opportunities, possibly including more acquisitions."
As CFO, Mr. Coutu will report directly to the CEO and will oversee the
financial affairs of ZCL and be responsible for investor relations, the
optimizing of ZCL's capital structure and internal communication systems. Mr.
Coutu, a Chartered Accountant, was Executive VP & CFO of Edmonton-based
Rentcash Inc. (TSX: RCS). Before joining Rentcash in 2005, he was Senior
Assistant Vice President and Chief Accountant for Canadian Western Bank
As Vice-President Finance, Mr. Lafferty will be specifically focused on
integrating ZCL's recent acquisitions, investigating future acquisitions and
identifying areas of profitability improvement, in conjunction with the CFO.
Mr. Lafferty will report to the CFO.
ZCL also announced that Simon Sochatsky has resigned from the Board of
Directors, effective September 18, 2007. ZCL wishes to thank him for his seven
and one-half years of service, and wishes him well in his future endeavours.
ZCL Composites Inc. is North America's largest underground fibreglass
tank manufacturer. ZCL's complete fuel storage systems, marketed under the
"Prezerver" trademark, carry a $2 million warranty against pollution. More
information about ZCL is available on its website at www.zcl.com
For further information:
For further information: Venence G. Côté, President & CEO, ZCL
Composites Inc., (780) 466-6648, firstname.lastname@example.org