Appliance Recycling Centers of America (ARCA) Announces Promotion of Linda Koenig to CFO
04 Fevereiro 2005 - 7:50PM
PR Newswire (US)
Appliance Recycling Centers of America (ARCA) Announces Promotion
of Linda Koenig to CFO MINNEAPOLIS, Feb. 4 /PRNewswire-FirstCall/
-- Appliance Recycling Centers of America, Inc. (OTC:ARCI)
(BULLETIN BOARD: ARCI) today announced that Linda Koenig has been
promoted to Chief Financial Officer, effective immediately. Koenig,
who has been with the company for nine years, was named Vice
President of Finance in March 2003, a position she assumed after
serving as Controller since September 1999. During 1999, ARCA
eliminated the position of Chief Financial Officer, and the
functions previously undertaken by that position were subsequently
handled by the Controller. Prior to her promotion to Controller,
Koenig was General Accounting Manager, a position she held for
approximately three and one half years. Edward R. (Jack) Cameron,
ARCA's president and chief executive officer, said: "I am very
pleased to announce the appointment of Linda Koenig to Chief
Financial Officer. This richly deserved promotion recognizes the
significant contributions that Linda has made to the company and we
are fortunate to have a person with her capabilities ready to
assume the CFO role. I am confident that Linda will be a driving
force in the continuing evolution and success of ARCA." About ARCA
Through its ApplianceSmart ( http://www.appliancesmart.com/ )
operation, ARCA is one of the nation's leading retailers of
special-buy household appliances, primarily those manufactured by
Maytag, GE, Frigidaire and Whirlpool. These special-buy appliances,
which include close-outs, factory overruns, open cartons and
scratch-and-dent units, typically are not integrated into normal
distribution channels. ApplianceSmart sells these new appliances at
a discount to full retail, offers a 100% money-back guarantee and
provides warranties on parts and labor. As of February 2005,
ApplianceSmart was operating 12 factory outlets: five in the
Minneapolis/St. Paul market; three in the Columbus, Ohio, market;
two in the Atlanta market; one in San Antonio, Texas; and one in
Los Angeles. ARCA is also one of the nation's largest recyclers of
major household appliances for the energy efficiency programs of
electric utilities. Statements about ARCA's outlook are
forward-looking and involve risks and uncertainties, including but
not limited to: the strength of recycling programs, the growth of
appliance retail sales, the speed at which individual retail stores
reach profitability, and other factors discussed in the Company's
filings with the Securities and Exchange Commission. Visit our web
site at http://www.arcainc.com/ . DATASOURCE: Appliance Recycling
Centers of America, Inc. CONTACT: Edward R. (Jack) Cameron, CEO of
Appliance Recycling Centers of America, +1-952-930-9000 Web site:
http://www.appliancesmart.com/ http://www.arcainc.com/
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