Primary Energy Recycling Corporation Announces Resignation Of John Prunkl, President...
Primary Energy Recycling Corporation Announces Resignation Of John Prunkl,
President of the Manager
OAK BROOK, IL, April 17 /PRNewswire-FirstCall/ - Primary Energy Recycling
Corporation (TSX: PRI.UN) (the "Company") announced today that Mr. John Prunkl
has tendered resignation of his position as President of the Manager of the
Company. The resignation is effective May 12, 2008.
"Presiding over the Company has been exciting, challenging, and at times
difficult," said John Prunkl. "Throughout my term as President I have been
constantly sustained by the talent and commitment of our employees, Board
members, investors and customers. I am satisfied that I leave the company on
solid footing, well positioned to grow and prosper."
"John has been critical in positioning the Company for the future,
particularly by completing the Harbor Coal amendment and putting a new
business development team in-place for the Manager. He has been responsible
for much of the success of the Company and his contributions will continue to
serve the Company well into the future" said Michel Lavigne, Chairman of the
Board of the Company. "Mike Alverson, the Chief Financial Officer of the
Manager, will become interim president in addition to his present duties
effective May 12, 2008 to assure continuity until there is a permanent
replacement. He has been involved with all of the Company facilities since
their inception and held various senior responsibilities over time, including
engineering, construction, operations, general administration and finance for
the Manager and the facilities' previous owners."
Mr. Prunkl will continue to stand for re-election to the Board of
Directors of the Company at the April 24, 2008 Annual General Meeting.
The Company owns a majority interest in Primary Energy Recycling Holdings
LLC ("Primary Energy"). Primary Energy, headquartered in Oak Brook, Illinois,
indirectly owns and operates four recycled energy projects and a 50% interest
in a pulverized coal facility (collectively, the "Projects"). The Projects
have a combined electrical generating capacity of 283 megawatts and a combined
steam generating capacity of 1.8 MMlbs/hour. Primary Energy creates value for
its customers by capturing and recycling waste energy from industrial and
electric generation processes and converting it into reliable and economical
electricity and thermal energy for its customers' use. For more information,
please visit us at www.primaryenergyrecycling.com.
SOURCE Primary Energy Recycling Corporation
V. Michael Alverson, Chief Financial Officer, Primary Energy Ventures, (630)
371-0639, investorinfo@primaryenergy.com
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