Intertape Polymer Group Announces Departure of Chief Financial Officer
30 Janeiro 2014 - 11:30AM
Marketwired
Intertape Polymer Group Announces Departure of Chief Financial
Officer
MONTREAL, QUEBEC and SARASOTA, FLORIDA--(Marketwired - Jan 30,
2014) - Intertape Polymer Group Inc. (TSX:ITP) ("Intertape" or the
"Company") today announced the departure of Bernard J. Pitz as
Chief Financial Officer, effective immediately.
Michael Jay, with Intertape since 2011 as Corporate Controller,
will assume the duties of interim Chief Financial Officer until a
successor is found. The Company will immediately commence an
executive search to replace Mr. Pitz and expects the process to be
completed in the next few months.
"We have a very strong finance team in place which will assure
continuity during this interim period. We remain on track to
execute our strategy and we view the future with great confidence,"
stated Greg Yull, President and CEO.
About Intertape Polymer Group Inc.
Intertape Polymer Group Inc. is a recognized leader in the
development, manufacture and sale of a variety of paper and
film-based pressure sensitive and water activated tapes,
specialized polyolefin films, woven fabrics and complementary
packaging systems for industrial and retail use. Headquartered in
Montreal, Quebec and Sarasota, Florida, the Company employs
approximately 1,800 employees with operations in 16 locations,
including 10 manufacturing facilities in North America and one in
Europe.
Safe Harbor Statement
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation and
"forward-looking statements" within the meaning of United States
federal securities legislation (collectively, "forward-looking
statements"). All statements other than statements of historical
facts included in this press release, including statements
regarding Mr. Jay's assumption of duties on an interim basis and
the Company's commencement of an executive search to replace Mr.
Pitz may constitute forward-looking statements. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industries in which
the Company operates as well as beliefs and assumptions made by the
Company's management. Such statements include, in particular,
statements about the Company's plans, prospects, financial position
and business strategies. Words such as "may," "will," "expect,"
"continue," "intend," "estimate," "anticipate," "plan," "foresee,"
"believe" or "seek" or the negatives of these terms or variations
of them or similar terminology are intended to identify such
forward-looking statements. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, these statements, by their nature, involve risks and
uncertainties and are not guarantees of future performance. Such
statements are also subject to assumptions concerning, among other
things: the Company's executive search process; the Company's
anticipated business strategies; anticipated savings from the
Company's manufacturing plant rationalization initiatives;
anticipated trends in the Company's business; anticipated cash
flows from the Company's operations; availability of funds under
the Company's Asset-Based Loan facility; and the Company's ability
to continue to control costs.
The Company can give no assurance that these estimates and
expectations will prove to have been correct. Actual outcomes and
results may, and often do, differ from what is expressed, implied
or projected in such forward-looking statements, and such
differences may be material. Readers are cautioned not to place
undue reliance on any forward-looking statement. For additional
information regarding some important factors that could cause
actual results to differ materially from those expressed in these
forward-looking statements and other risks and uncertainties, and
the assumptions underlying the forward-looking statements, you are
encouraged to read "Item 3. Key Information - Risk Factors" in the
Company's annual report on Form 20-F for the year ended December
31, 2012 and the other factors contained in the Company's filings
with the Canadian securities regulators and the US Securities and
Exchange Commission. Each of these forward-looking statements
speaks only as of the date of this press release. The Company will
not update these statements unless applicable securities laws
require it to do so.
MaisonBrison CommunicationsPierre Boucher(514) 731-0000
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