Printer Friendly
The Free Library
19,595,263 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Chai-Na-Ta Announces New C.E.O.


Business Editors

LANGLEY, B.C.--(BUSINESS WIRE)--May 25, 2000

Chai-Na-Ta Corp. ("CNT (Carbon NanoTube) See nanotube. ") (TSE See Tokyo Stock Exchange.

TSE

1. See Tokyo Stock Exchange (TSE).

2. See Toronto Stock Exchange (TSE).
:CC.) (OTC Bulletin Board OTC Bulletin Board

An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system.
:CCCFF) announced today that its President and Chief Executive Officer, Gerry Gill, has resigned effective May 24, 2000.

Mr. William Zen, CNT's new Chairman, will assume the position of CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. .

CNT recently completed a major restructuring program that eliminated $28 million of debt and obtained $5 million of new working capital through an equity investment by Herb King International Limited ("Herb King").

Herb King is a subsidiary of Road King Infrastructure Limited ("Road King"), a Hong Kong-based publicly listed company, with assets over CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $1 billion. The investment provides Road King with a majority control in CNT of 62.6%.

Gill said, "The Company has just come though a very successful restructuring and is now in the strongest financial position in its history. I have accomplished what I had set out to do, which was to save our employees' jobs and to create value for our shareholders."

The new Chairman and CEO, Mr. William Zen, also said, "I am really proud of the good condition that our Company is presently in. I believe the Company is now poised to reap the benefits from an expected industry rebound and is financially structured to maximize its opportunities. But the major growth of the Company should not be only from farming, it should also be from new value-added product developments through enhancing the existing Research & Development and Marketing activities."

Chai-Na-Ta Corp., based in Langley, British Columbia Langley, British Columbia can mean the following:
  • Township of Langley
  • City of Langley
, is the world's largest supplier of North American ginseng ginseng (jĭn`sĕng), common name for the Araliaceae, a family of tropical herbs, shrubs, and trees that are often prickly and sometimes grow as climbing forms. . The Company farms, processes and distributes North American ginseng as bulk root, and supplies processed extract powder for the manufacture of value-added ginseng-based products.

Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainty, including but not limited to general business conditions and other risks as outlined in the Company's periodic filings, annual report, and Form 20-F. Such risks and uncertainties may cause actual results to differ materially from those projected.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:May 25, 2000
Words:342
Previous Article:Farmers Catastrophe Claims Team Is On the Ground Servicing Customers.
Next Article:Swig Brothers Join Forces On Landmark SOMA Residential Project; The Century to be San Francisco's Largest Residential Complex.
Topics:



Related Articles
Oveta ompe yosapoota oya tula aanona komeho.
Okukuthapo omithigululwakalo noshikonga shuuthemba wopaihulo.
Omatestamendi nuuthiga.
Sampa Kanga-Wilkie Ta hokolola ehokololo loshili.
Ovanhu ovo ihava dulu okuliamena ova pumbwa eameno: okutala nakukukwata keenghono momhangu oshinima tashi difa omukainhu keshe omaxwilili, mbela...
Efiloshisho lounona va dalwa pondje yohombo: oku va hanga, efiloshisho lefiku nefiku nokuninga omatokolo mOnhotwaveta yOmufika wounona.
Nhumbi to mono elombwelo lokuamenwa.
Alexia ncube: okwa yooloka ashike ota dulu.
Bience Gawanas: ta kufa omashongo okutungulula onghalafano.
Wangari Maathai waKenya a findana Oshishani shOmbili shomudo 2004.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles