ENVK .64
It is my opnion that at this time next year we will have witnessed significant growth here and the price will have moved at least to the 1.75 ++ range-
B: Envirokare Announces Appointment of Board Members
B: Envirokare Announces Appointment of Board Members
ORLANDO, Fla., Oct 17, 2005 (BUSINESS WIRE) -- Envirokare Tech, Inc.
(OTCBB:ENVK) is pleased to announce the appointment of Louis F. Savelli and
Douglas Davidian as members of the Board of Directors. Envirokare, through its
joint venture interest in LRM Industries, LLC ("LRM"), is developing
state-of-the-art Thermoplastic Flowforming ("TPF(TM)") technology, producing
proprietary long-fiber-reinforced products.
Mr. Savelli brings extensive executive experience developed in the polymer
products industry to Envirokare's Board. Mr. Savelli's substantial industry
contributions were achieved primarily with E.I. DuPont de Nemours and Company
("DuPont"). With an educational background in chemical engineering, he joined
DuPont in 1959 in the Research Division and worked in Wilmington and at the
Parkersburg W.Va. plant on various research projects involving polymer products
and processes. He was assigned to Marketing in 1963, and worked in Technical
Services, Sales and Market Development. He became District Manager for Teflon in
Los Angeles in 1969, and from there progressed through a number of management
positions, including an assignment in the Corporate Plans Division, working on
virtually every product group in DuPont's Polymer Products Division.
In 1989, he was appointed Division Director for the Finishes Division, DuPont's
business group responsible for the supply of paints and finishes to the
automotive OEM and after markets. Mr. Savelli was appointed Vice President and
General Manager in 1991, and moved to Detroit where, in addition to heading the
Finishes business, he took over responsibility for marketing all of DuPont's
products to the Automotive Industry.
Under his leadership, the Finishes Division grew to become one of DuPont's
largest and most profitable business groups. In 1999, the business acquired the
Herberts Paint Company, a Division of Hoechst, for just under $2 billion, thus
doubling in size and becoming a global entity. He was appointed Group Vice
President in 1999, and retired in 2001.
Mr. Davidian has over twenty-three years experience in the business furnishings
industry and presently owns and operates three successful businesses that
design, manufacture and develop furniture for various end-use applications
across a broad range of industries. He is a multiple award recipient of
furniture industry acknowledgements in the State of California and his
businesses have ranked in the top 100 of the fastest growing privately held
companies in America (1990). His business acumen, development skills and
community contributions have been recognized by organizations within California
on a regular basis over the past fifteen years. He serves and has served in an
active capacity on numerous regionally-based business and community boards and
committees.
Dr. Nicholas Pappas, Executive Chairman of the Company, stated, "Today's
appointments to Envirokare's Board are significant on many levels. Mr. Louis
Savelli is a proven executive within the polymers products industry and his
insight and advice concerning many aspects of the TPF(TM) technology build out
will be welcomed by the Company. Mr. Doug Davidian is an additional high quality
Board addition who brings entrepreneurship, expertise in business management,
operations and marketing to the Board. As Envirokare continues its growth, we
will continue to focus on developing a corporate infrastructure comprised of
individuals who will make substantive contributions that will assist our Company
in achieving established objectives."
LRM Industries, LLC was formed to commercialize ThermoPlastic Flowforming
("TPF(TM)") technology through development, manufacturing and licensing. LRM is
a joint venture of NOVA Chemicals Inc. and Envirokare Composites Corporation (a
unit of Envirokare Tech, Inc.) (OTCBB:ENVK).
TPF(TM) is an emerging process technology for the low pressure, fully automated
molding of long-fiber-reinforced thermoplastic ("LFRT") large structural parts
providing enhanced mechanical properties through the randomization and
preservation of fiber length in molded parts. LFRT molded products represent one
of the fastest growing elements of the worldwide molded plastics market with
applications replacing conventional materials such as steel, aluminum, wood,
fiberglass and cement, in nearly all major industrial market segments. The
worldwide market for LFRT products is estimated to be a multi-billion pound
opportunity with double-digit growth rates currently and into the future. The
enhanced mechanical properties of TPF(TM) molded products, coupled with low
material costs (including the use of recycled polymers) and low conversion
costs, make TPF(TM) patented technology a strong contender for this multi
billion pound opportunity.
Envirokare welcomes inquiries regarding their products and programs. Interested
parties are also directed to the SEC's EDGAR informational system to obtain
currently filed Envirokare corporate information.
This News Release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 (the "Act"). In particular,
when used in the preceding discussion, the words "plan," "confident that,"
"anticipate," "believe," "expect," "intend to," and similar conditional
expressions are intended to indemnify forward-looking statements within the
meaning of the Act and are subject to the safe harbor created by the Act. Such
statements are subject to certain risks and uncertainties, and actual results
could differ materially from those expressed in any forward-looking statements.
Such risks and uncertainties include, but are not limited to, market conditions,
competitive factors, the ability to successfully complete additional financings,
and other risks.
SOURCE: Envirokare Tech, Inc.
CONTACT: Envirokare Tech, Inc., Orlando
George E. Kazantzis, 888-354-3685 or 407-856-8882
Fax: 407-856-8270
info@envirokare.com
envirokare.com |
