For those who are interested:
KFSS 1998-03-12 (provided courtesy of Canadian Corporate News.)
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Kafus Reports on Subsidiary, CanFibre, Adding to Riverside Management Team
VANCOUVER, BRITISH COLUMBIA--(American Stock Exchange, symbol: KS,
Frankfurt and Berlin Stock Exchanges, symbol: KAF, and The
Canadian Dealing Network, symbol: KFSS) Kafus is pleased to report
its subsidiary, The CanFibre Group Ltd., has reported the
following:
"The CanFibre Group is pleased to announce the following recent
additions to the CanFibre of Riverside management team: Garry
Lavold as Senior Vice-President responsible for engineering and
construction, Larry Tinker as General Manager of Facility
Operations and, Ken Wilson as Plant Manager, employed directly by
the facility operator, Stone & Webster Operating Corp.
Mr. Lavold, who joined CanFibre in August 1997, has a Bachelor of
Science in Chemical Engineering as well as a Masters of Business
Administration and is responsible for all engineering and
construction of up to $1 billion in projects and he has been
invaluable to ensure the Riverside project proceeds as planned.
Mr. Tinker, holds a Bachelor of Science in Forest Products and has
over 20 years of engineering and plant management experience in
the MDF and particleboard sectors having worked extensively in
both the western and southeastern markets. His responsibilities
include the oversight of Stone & Webster Operating Company,
materials management and the development of maintenance plans.
Mr. Tinker will also be responsible for technical and operating
issues relating to other CanFibre facilities currently under
development.
Mr. Wilson, with a Bachelor of Science in Forest Products, also
has more than 20 years direct experience in the MDF industry
having managed a variety of production and start-up
responsibilities at mills renowned for some of the highest quality
MDF production in North America. Mr. Wilson will be responsible
for all operating and maintenance activities at the mill and has
already begun forming the remainder of his plant management team.
Construction of the CanFibre of Riverside facility is proceeding
well despite some minor delay due to the heavy rainfall and poor
weather conditions in Southern California. The area has recently
enjoyed much dryer weather resulting in foundations being
completed and building construction commencing in March.
Equipment has also begun arriving and start-up is still scheduled
for December 1998 or January 1999.
In other news, CanFibre is continuing activities to complete
financing for its Lackawanna facility, near Buffalo, New York.
Financial closing of the project is expected in April 1998.
CanFibre has also commenced project development of its third
facility in North America with location and details to be
disclosed in future releases."
CanFibre engages in the worldwide development of manufacturing
plants to produce high quality medium density fibreboard (MDF)
from 100 percent recycled dry waste without using conventional
urea formaldehyde resins. CanFibre MDF is North America's first
"green" panelboard and is produced from materials normally dumped
into landfills.
Kafus is rapidly moving towards its corporate objective of
becoming a global low cost producer of commodity type products
from alternative materials including post consumer and
agricultural waste.
Shares Outstanding: 23.3 million
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Kafus Environmental Industries Ltd.
Investor Relations Department
1-888-333-5377 (Toll Free) or (604) 602-1981
(604) 685-2426 (FAX)
E-mail: kafus@direct.ca
Website: kafus.com
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