Asia Pacific Resources Appoints New Chief Executive.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--March 23, 2001 AsiaPacificRes (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :APQCF)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :APQ APQ Accordo di Programma Quadro APQ Association des Paraplégiques du Québec APQ Association des Pathologistes du Québec APQ Art Pepper Quartet (jazz group) APQ Armaments Planning Questionnaire APQ Advanced Placement Question .)(FRANKFURT:APQ) Dr. Gerald D. Wright has tendered his resignation as Chairman of the Board and Chief Executive Officer of Asia Pacific Resources Ltd. (APR APR See: Annual Percentage Rate ). This resignation is effective immediately, however, the Company is pleased to announce that Dr. Wright has agreed to remain as a Director of APR. Dr. Wright has been a major contributor to the success of APR and his experience will be most useful as the Company continues to move forward with the development of the Somboon potash project. The Board has elected Robert G. Connochie to the offices of Chairman and Chief Executive Officer. Mr. Connochie will also continue as President of Asia Pacific Resources Ltd. Norsk Hydro Norsk Hydro ASA (OSE: NHY, NYSE: NHY) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. Hydro is the fourth largest integrated aluminium company worldwide. It has operations in some 40 countries around the world and is active on all continents. has informed the Company that they have placed their participation (both financial and managerial) in the Somboon Development Program "on hold" pending the resolution of certain issues relating to the financing and implementation of the project. APR is reviewing its financing requirements and proposes to raise sufficient funds to complete the Development Program. While continuing discussions with Norsk Hydro and other potential equity investors, APR will also explore all long-term strategic options available to it. Robert G. Connochie, Chairman, President and Chief Executive Officer |
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