ok - ATF.V - for JIM, Alternative Fuel Systems Inc. Announces New President
Significant Environmental Benefits Ahead from World Class Fuel Technology Company
CALGARY, Alberta--(BUSINESS WIRE)--Aug. 11, 1999--The Board of Directors of Alternative Fuel Systems Inc. (AFS; VSE Symbol: ATF.) Wednesday announced the appointment of John C. Anderson as its President and CEO effective Aug. 11, 1999.
Anderson brings more than 35 years experience with technology-related businesses to this position. Most recently, he has been President and CEO of Epic Data International Inc. During his tenure at Epic Data, he led the company to a record seven consecutive profitable quarters with record annual sales of $53 million. Prior to Epic Data, Anderson had been President and CEO of B.C. Research Inc., a diversified industrial research and development company which experienced record profitable operations under his leadership. Before B.C. Research, he was President and CEO of Norsat International Inc., a diversified satellite technology company which saw sales grow from $16 million to a record $63 million in annual revenues, with record profitability during each year of his tenure. Anderson holds a B.Sc. in electronic engineering, an M.Sc. degree in physics and an MBA in finance from Pepperdine University.
The Vancouver business community recognized his contribution in both 1995 and 1996 when he was nominated for entrepreneur of the year awards in both ''Turnaround'' and ''Technology'' categories. In 1986, he was awarded the Prix D'Excellence, a Canadian Industrial Innovation Award. He is also holder of 13 patents in fiber optics technology. Prior to his involvement in smaller, emerging companies, Anderson had a lengthy corporate career with IBM, Smiths Industries, Schlumberger, Texas Instruments and Northern Telecom.
AFS is in a rapid expansion mode with aggressive growth in both products and technologies. The current President of AFS, Gerry Klopp, who will become the Company's Chief Scientific and Operations Officer, stated, ''I am very pleased that after a lengthy and extensive search, the Company has been able to attract Mr. Anderson with his unique qualities and experience. I am looking forward to working with John to build upon our many successes at AFS and develop the company into a world class organization.''
Speaking on behalf of the Board of Directors, Dale M. Simmons, the Company's Chairman, added, ''We are excited that John Anderson has agreed to join our company. His enviable track record of improving corporate profitability, together with his acute grasp of technologies and growth strategies, makes him ideal to lead AFS into the new millennium.''
Commenting on his appointment, Anderson said, ''AFS has made huge accomplishments and has secured major customers with its natural gas fuel management systems for diesel cycle and gasoline engines. These technologies, together with the revolutionary Reverse Flow Catalytic Converter, deliver impressive results with significant environmental benefits. AFS is now positioned for global expansion, and I am delighted with the prospects of leading such growth.''
AFS designs, develops and markets advanced technology fuel management and exhaust treatment systems that permit diesel and gasoline engines to operate on clean burning, environmentally friendly compressed natural gas. The innovative Sparrow and Eagle technologies, along with the Condor (reverse flow catalytic converter), have positioned AFS on the cutting edge of global efforts to reduce engine emissions.
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Contact:
Alternative Fuel Systems Inc.
Gerry Klopp, 403/262-1833
Fax: 403/237-7441
email: afscalgary@home.com
Web site: www.altfuelsys.com
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