NEW BOARD MEMBER FOR ALCO INTERNATIONAL GROUP INC.
SAN DIEGO, April 30 /PRNewswire/ -- Alco International Group Inc. (NASDAQ: ALIG) (the "company") announces the appointment of Tony Maraschiello to the board of directors, effective April 12, 1993. Since 1988, Maraschiello has been employed by Orangetree Resorts in Scottsdale, Ariz. For eight years prior to that time, Maraschiello was employed by the Arizona Biltmore Hotel. Maraschiello and the company have negotiated an employment agreement, pursuant to which Maraschiello will be involved in enhancing the public's awareness of the company and its products, as well as in the marketing and selling of the company's infection control products. Maraschiello is the trustee of a voting trust, pursuant to which he has the power to vote (but not dispose of) 2,553,463 shares of the company's common stock that are subject to the trust, according to Amendment No. 2 to a schedule 13D dated Feb. 25, 1993 (the "13D"). According to the 13D, Maraschiello has the sole power to vote the shares subject to the trust which shares may not be disposed of during the terms of the trust. Further, according to the 13D, certain shares of the common stock of the trust are owned of record or beneficially by certain officers, directors, employees or other related parties of the company. The Alco International Group also announces to have retained the services of Donald H. Hutton, FACHE to aid and advise the company on selling the Barrier Integrity Monitor System (BIM(TM)) to hospitals. In addition, Hutton will aid the company in gaining support for the BIM from hospital and physician insurance carriers and brokers. Hutton has 22 years of experience in hospital management in larger U.S. hospitals, 15 of these years as chief operating officer or chief executive officer. Among other functions, Hutton presently serves on the board of the National Council of Community Hospitals. Hutton has served as chairman of the Sun Health Alliance Board of Trustees, a 280-hospital organization; as delegate to the American Hospital Association and as a board member of the Metropolitan Hospital Section of the American Hospital Association. In addition, Hutton served as chairman of West Virginia Hospital Insurance Corp., a medical liability insurance corporation. Alco International Group Inc., through its subsidiaries, operates two primary businesses: the manufacture and marketing of medical products for infection control and women's health, fertility and conception products, and the transportation of containerized cargo from South Florida to the Caribbean. -0- 4/30/93 /CONTACT: William Spencer of Alco International Group, 619-695-9555/ (ALIG)
CO: Alco International Group Inc. ST: California IN: HEA MAR SU: PER
LS-EH -- SD005 -- 3274 04/30/93 14:04 EDT
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|Date:||Apr 30, 1993|
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