Michael, you may have already seen this release but just in case here it is.
Tuesday February 4 2:34 PM EDT
International Absorbents Inc., 'Products and Technology for the Good of
the Environment'
International Absorbents Secures $1,000,000 Line of Credit
BELLINGHAM, Wash., Feb. 4 /PRNewswire/ -- International Absorbents Inc , a leading manufacturer and marketer of
absorbent products made from waste wood pulp, today announced the completion of a new credit facility totaling (US) $1
million.
"This funding will enable the Company to concentrate on its expansion plans and on the further development of its growing
customer base," commented Gordon Ellis, Chairman of International Absorbents. "I am pleased by our new management's
ability to attract significant new capital without any dilution to current shareholders."
Since late 1996, several key upper level management positions have been strengthened at the Company. Geoffrey Lawrence,
a senior executive with extensive international sales and operations experience, was named President and Chief Executive
Officer of Absorption Corp., the Company's operating subsidiary. Jack VonEwegen, who built Slikwik Sorbents from
negligible revenues to $8 million in sales became the Company's Vice President of Industrial Marketing. Edward Murchie,
former COO of Vernitron Corporation and former CFO and COO of Fairchild Industries, joined Absorption Corp.'s Board
and has taken an active role in the management of the Company.
International Absorbents Inc. develops, manufactures and markets patented and proprietary, cost-effective sorbent products
derived from recycled, renewable materials. These environmentally safe products outperform conventional products used in a
broad range of industrial and consumer applications, including oil and hazardous liquid spill cleanup and control, oil/water
filtration, packaging and commercial/retail animal bedding and litter. Further information about International Absorbents is
available at www.absorbent.com. SOURCE International Absorbents Inc. |
