Message #5 From:
NewsBot Date: November 6, 2006 05:00:00 AM
WDWT News World Waste Technologies, Inc Appoints President and Chief Operating Officer
SAN DIEGO--(BUSINESS WIRE)--Dr. Jim Ferris, currently a Director at World Waste Technologies, Inc.
(OTCBB:WDWT) has agreed to join the company in a managerial role as
President and Chief Operating Officer. In this role he will be
responsible for overseeing the day-to-day operations of the company,
including Plant #1 in Anaheim which was constructed and commissioned in
the first half of 2006. The plant is currently running in a controlled
start up mode while the Company evaluates the installation of additional
materials processing and water treatment equipment.
“We are delighted to have attracted such a
strong executive with industry experience and knowledge,”
said John Pimentel, Chief Executive Officer of World Waste Technologies,
Inc. He continued, “Jim brings the leadership
to effectively set our organizational direction and motivate employees
at all levels to achieve our operating goals. Furthermore, we believe
that his experience at Weyerhaeuser and the Institute of Paper Science
and Technology will be valuable to our company.”
Dr. Ferris joined the World Waste Technologies, Inc. Board of Directors
in 2004 and has taken a strong role in assisting management with the
commercialization of the Company’s Quadra-C
unbleached pulp product. He recently undertook a more active consulting
role in general management with the company which led to his appointment
to the current position of President/COO.
“I look forward to this new challenge. The
Company has turned municipal solid waste into cellulose biomass and
unbleached fiber for paper makers, however, we still face operational
challenges as we focus on improving the cost effectiveness and
scalability of the process,” said Dr. Ferris. “I
am also pleased that my appointment will free up managerial resources to
pursue our additional product opportunities such as creating energy from
our cellulose biomass.”
Dr. Ferris was the President and Chief Executive Officer of the
Institute of Paper Science and Technology from 1996 to 2003. Prior to
holding that position he was a long-time employee of the Weyerhaeuser
Company where he began his engineering career in manufacturing and
progressed through many business and research positions to become Vice
President of Research for Pulp, Paper, and Packaging from 1988 to 1996.
Dr. Ferris’ specific areas of expertise
include: Management systems and business processes, Corporate- Level
Visioning; Strategy Development, Organizational Performance Improvement
as well as management of technology, new product development and R&D.
He served as a member of the board of directors of Albany International
from 2000 – 2004 and has been a trustee of
the Institute of Paper Chemistry Foundation since 2003. Dr. Ferris
completed the Advanced Management Program at Harvard Business School in
1992, received his Ph.D. (1972) and M.S. (1969) from the Institute of
Paper Chemistry at Lawrence University, and obtained his B.S. in
Chemical Engineering from the University of Washington in 1966.
About World Waste Technologies, Inc. World Waste Technologies, Inc. is
seeking to commercialize a patented technology that management believes
will allow a significant amount of Municipal Solid Waste (MSW) to be
recycled. A major component of MSW is paper-based material, and the
company’s technology converts paper,
cardboard, and paper packaging found in MSW into a cellulose fiber
material that can be sold to box and paper manufacturers or potentially
be used in making other products. The company recently completed
construction of its initial facility in Anaheim, California.
The contents of this press release are presented as a general overview
of the company. This release is intended only to contain general
information regarding the company and its business and does not purport
to provide complete disclosure or analysis of all matters that may be
relevant to a decision to invest in the company. In addition, certain
matters discussed in this release may constitute “forward-looking
statements”. Actual results and the timing of
certain events may differ materially from those indicated by such
forward-looking statements due to a variety of risks and uncertainties,
many of which are beyond the company’s
ability to control or predict, including, but not limited to risks and
uncertainties outlined in the company’s
periodic reports filed with the SEC. Other risk factors may include, but
are not limited to, the company’s ability to
successfully implement its business strategy, including its ability to
produce and sell product at commercial levels and adequate prices and
the acceptance of its product by potential customers and by the market
in general, the ability of the company to achieve profitability even if
it is able to sell its product at commercial levels, the company’s
ability to raise subsequent financing in order to build additional
facilities, fluctuations in quarterly results, increased competition,
the economical operation of the company’s
process, and the company’s ability to protect
the proprietary technology it uses. Further, the company operates in an
industry sector where securities values are highly volatile and may be
influenced by economic and other factors beyond the company’s
control, such as announcements by competitors and service providers. The
statements made herein are made as of the date of this release, and the
company undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
