yet another private message from Isaac. Come out Isaac, come out come out where ever you are.
To: flodyie
From: afrayem onigwecher Tuesday, Nov 9 1999 2:32PM ET
ELK GROVE VILLAGE, Ill.--(BUSINESS WIRE)--Nov. 8, 1999--Electric City Corp. ECCC announces today that Slade R. Chelbian has been named Vice President and Chief Financial Officer.
"We are extremely pleased to have Mr. Chelbian join the Electric City team. Mr. Chelbian brings over 22 years of progressive experience and accomplishment within large, publicly traded, international manufacturing, distribution, and professional service organizations." stated Joseph C. Marino, CEO and Chairman of the Board of Electric City Corp. "Mr. Chelbian's experience as a high-powered CFO with SEC Reporting, IPO's, and the financing of public and private companies, will be a tremendous asset to Electric City during our current period of rapid growth. He exhibits an entrepreneurial management style, and will be responsible for our administrative and financial functions."
Mr. Chelbian, 45, was most recently a Senior Manager at Arthur Andersen LLP, the Chicago headquarters for the global multidisciplinary professional services firm. As "Director of Operations" for Arthur Andersen's CFO Community of KnowledgeSpace, he was responsible for building the firm's new Internet gateway to online financial information, business tools, and resources for CFO's and other Financial Executives. Prior to joining Arthur Anderson two years ago, Mr. Chelbian was the Chief Financial Officer at a local printing and packaging manufacturing company in the Chicago area.
As Corporate Controller and Treasurer at Tioxide Americas Inc., a 300 million-dollar subsidiary of 14 billion-dollar Imperial Chemical Industries (ICI) PLC, from 1990 through 1997, Mr. Chelbian held financial leadership positions at three of ICI's divisions located in New Jersey, Dallas, and Chicago. He successfully led the finance function through a number of Business Process Re-Engineering efforts that included implementing new ERP systems, reducing manufacturing costs and progressively increasing shareholder value. From 1988 through 1990, he served as the Accounting Reporting Manager for the corporate headquarters of Concurrent Computer Corporation, a 400 million-dollar international manufacturer of high-speed computers located in Tinton Falls, New Jersey. His financial team successfully took the company public, and was responsible for all M&A, SEC reporting, and compliance issues. From 1978 through 1988, Mr. Chelbian held financial leadership positions at the submarine division of General Dynamics.
Mr. Chelbian earned a Masters Degree in Business Administration from Seton Hall University, located in South Orange, New Jersey and a Bachelors Degree from Rutgers University located in New Brunswick, New Jersey. He is a Certified Public Accountant in Illinois and New Jersey.
The EnergySaver: State of the Art Lighting Control Technology is a proprietary energy management system designed to reduce the cost of lighting. These savings are achieved without a loss in essential brightness and without reducing the number of hours the lights are used.
Electric City Corp. (www.electriccityeccc.com), located in Elk Grove Village, Ill, is an energy technology and manufacturing company created to introduce this State of the Art lighting Control Technology to the United States after 17 years of success in Europe. Electric City Corporation markets and manufactures the EnergySaver products that offer savings in the range of 20% to 50% to the commercial sector on their utility bills and lighting related expenses. Some of Electric City's clients include, Tru Vue, a subsidiary of APOGEE ENTR (APOG), Gart Sports/ Sportmart, ITT McDonnel & Miller, and automobile dealerships including Ford and Dodge.
Except for the historical information contained herein, this press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934 as amended, and are subject to the safe harbors created thereby. The Company's future actual results could differ materially from the forward-looking statements discussed herein.
For additional information please contact: Electric City's Stephanie Cox, Vice President of Corporate Marketing and Investor Relations at 847-437-1666.
CONTACT:
Electric City
Stephanie Cox, 847/437-1666
KEYWORD: ILLINOIS
BW1407 NOV 08,1999
7:19 PACIFIC
10:19 EASTERN
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