NEWS RELEASE
September 11, 2000 NR00-04
Landstar Inc. - SEC Approves 10-SB Filing; Operational Advances
Dayton OH September 11, 2000 Landstar Inc. (OTC:LDSR, www.ldsr.com) wishes to inform its shareholders of a number of important developments.
The Company has been in the process of having its 10-SB filing approved by the SEC and on September 5, 2000 Landstar was contacted by the SEC and informed that all comments have now been cleared and our filing has been approved. Company management is proceeding with the required OTC re-application documentation and expects to have their previous trading status reinstated within thirty days. The Company has also filed its June quarterly financial statements (10Q) and is now current with all required SEC filings. The Company plans to proceed with an SB-2 filing to register shares of the Company. It is expected that this filing will be submitted during September.
Landstar is also very pleased to advise shareholders that several advances have also been made on the operational front. The company has signed a Letter of Intent and an interim strategic alliance to acquire Rad-Tec Inc., a manufacturer of rubber tire products in Corpus Christi, Texas. Rad-Tec will grant Landstar first priority on the manufacture of its rubber products using their 55,000+ sq. ft. facilities. The signing of this agreement is very significant in that it provides the Company immediate access to a fully functional production environment.
In other production-oriented and marketing moves, the Company is very pleased to announce the expansion of its management team as follows:
Mr. Robert (Bob) Phillips has been hired as Vice President, Operations. With over thirty years background in the auto, plastic and rubber industries, Mr. Phillips brings to Landstar an impressive array of capabilities. Most relevant is his experience in plant setup and operation of two tire recycling operations, cryogenic fine grind systems, ambient rubber grinding systems and both extrusion and compression molding systems.
Landstar has also hired Mr. Michael (Mike) Elles as Vice President, Business Development. Mike has been actively involved in the tire recycling industry for the past ten years. He has extensive background in crumb rubber and the various applications including rubberized asphalt and finished products. His role will be to identify new business opportunities for the Company.
Mr. Paul M. Standley has been hired as Vice-President, Technology. Paul possesses over 35 years experience in the rubber industry, specifically in the areas of automotive, consumer, and industrial rubber products. His background includes 22 years with Dayco Products Inc., where he last held the position of Vice-President, Advanced Technologies and Practices. His role will be to advance the Companys technology, through research and development, into its most appropriate markets.
Mr. William (Bill) Klingensmith has been hired as Vice-President, Market Development. Mr. Klingensmiths career as a Chemist and techno-economic consultant to the rubber industry includes a variety of senior positions covering over 40 years. He has authored and presented over 20 papers on rubber compounding and is well recognized for his contributions within the industry. His role will be to develop and tailor marketing programs for Company products.
The Company is very pleased to have engaged this superb team of senior industry professionals. |
