Envirokare Announces Board Membership Change.
Mr. Sereda has over 30 years of financial management experience. His responsibilities have included debt and equity financing, treasury operations, pension management, insurance, mergers and acquisitions. Mr. Sereda has held his current position as Vice President Finance and Treasurer of NOVA Chemicals since 1998. Prior to joining NOVA Chemicals in 1989, Mr. Sereda had an extensive career in corporate and investment banking with a major Canadian bank. Mr. Sereda attended the Universities of Saskatchewan, Toronto and British Columbia where he received a Bachelor's degree in Economics and professional designations as an Associate of the Institute of Canadian Bankers (AICB) and as a Certified Cash Manager (CCM).
Mr. Lou Savelli, Chairman and CEO of Envirokare, stated, "The appointment of Mr. John Sereda is a very positive development for Envirokare, and on behalf of the shareholders of Envirokare we welcome Mr. Sereda to our Board. Mr. Sereda's demonstrated financial expertise will greatly assist the Board and the company as we move forward in support of our joint venture project with LRM and the commercialization of the TPF Thermoplastic Flowforming[TM] technology."
About the TPF ThermoPlastic Flowforming[TM] Process and Technology:
The TPF ThermoPlastic Flowforming[TM] process utilizes a broad range of thermoplastic and thermoset polymers and reinforcing fibers. This process enables the production of large, complex parts at low cost, through the utilization of low-pressure presses and inexpensive molds. Management believes that LRM customers will experience the benefits of utilizing the TPF ThermoPlastic Flowforming[TM] process and technology when compared to existing production methodologies, such benefits including improved production efficiencies, enhanced product quality and production cost savings.
LRM Industries, LLC was formed to commercialize TPF ThermoPlastic Flowforming[TM] technology through development, manufacturing and licensing. LRM is a joint venture of NOVA Chemicals, Inc. and Envirokare Composite Corporation (a unit of Envirokare Tech, Inc.).
TPF ThermoPlastic Flowforming[TM] is an emerging process technology for the low pressure, fully-automated molding of long-fiber-reinforced ("LFRT") and nonreinforced thermoplastic large structural parts providing enhanced mechanical properties through, in the case of LFRT, the randomization and preservation of fiber length in molded parts. LFRT and unreinforced molded products represent two of the fastest growing segments of the worldwide molded plastics market with applications replacing conventional materials such as steel, aluminum, wood, fiberglass and cement, in nearly all major industrial markets. The worldwide market for LFRT and unreinforced products is estimated to be a multi-billion pound opportunity with double-digit growth rates currently and into the future. The enhanced mechanical properties of TPF ThermoPlastic Flowforming[TM] molded products, coupled with low material costs (including the use of recycled polymers) and low conversion costs, make TPF ThermoPlastic Flowforming[TM] patented technology a strong contender for this multi-billion pound opportunity.
Envirokare welcomes inquiries regarding their products and programs. Interested parties are also directed to the SEC's EDGAR informational system to obtain currently filed Envirokare corporate information.
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "anticipate," "believe," "expect," "intend to," and similar conditional expressions are intended to indemnify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results could differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings, and other risks.
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|Date:||Dec 4, 2006|
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