Press release as of February 27, 1997
GENERAL MOTORS BUYING INTERNATIONAL ABSORBENTS' INDUSTRIAL SORBENT PRODUCTS
- - Company Opening New Distribution Center To Meet Demand - -
BELLINGHAM, WA, February 27 -- International Absorbents Inc. (NASDAQ:
IABSF), a leading manufacturer and marketer of absorbent products made from waste wood pulp, announced today that their industrial sorbent product line has been approved for purchase and use within the Delphi System of General Motors Corporation (NYSE: GM).
"General Motors has for many years been searching for an environmentally responsible floor absorbent that meets their specifications," stated Geoff Lawrence, CEO of Absorption Corp., International Absorbents' operating subsidiary. "We are pleased that extensive testing within GM determined that our products meet and exceed their requirements. GM has assigned our products open purchase order numbers, allowing purchasing managers to place significant orders without any further approvals."
"Several GM divisions have begun ordering our products over the last sixty days," continued Mr. Lawrence. "We are setting up a new distribution center in Michigan to meet the anticipated demand."
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. Since late 1996, several key operating 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 egligible revenues to $8 million in sales became the Company's Vice President of Industrial Marketing. Edward Murchie, former COO of Vernitron orporation 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. Further information about International Absorbents is available at www.absorbent.com.
Contact:
Charles (Chuck) Tait Lisa Quinn
International Absorbents Inc. Rothschild & Banks, Inc.
(604) 681-6181 (908) 901-1111 |
