Business & Finance
Business and Finance
Business and Finance
Mon, February 28, 2011 BIOX CORPORATION NAMES WILLIAM JOHNSON AS PRESIDENT AND CHIEF EXECUTIVE OFFICER
TORONTO, Feb. 28 /CNW/ - BIOX Corporation ("BIOX") (TSX: BX) today announced the appointment of William Johnson as BIOX's President and Chief Executive Officer, beginning March 7, 2011. Mr. Johnson is a seasoned executive with extensive international experience, including 15 years at Air Liquide where he was responsible for businesses covering 40 facilities and revenue of $1.5 billion. He also has a very successful entrepreneurial track record building companies in the power generation industry. A chemical engineer by training, he has significant expertise developing new projects, raising capital, working with large commercial enterprises and employing proprietary technology, including a deep understanding of the alternative energy sector.
David Colcleugh, the Chairman of BIOX's Board of Directors, said "We are delighted to have secured someone of William Johnson's stature and experience as our next President and Chief Executive Officer. With Bill's proven track record, strategic focus, energy and passion, we feel confident that BIOX, as Canada's leading producer of biodiesel, is well positioned to execute its business plan, grow the company and build meaningful value for our stakeholders."
Mr. Johnson will succeed Timothy Haig who has resigned as President and CEO effective March 7, 2011 to pursue other business opportunities. Mr. Haig will continue as a member of BIOX's Board of Directors and will act as a consultant to BIOX during the leadership transition.
Mr. Colcleugh added "Tim Haig has made many valuable contributions over the past 11 years as a co-founder and leader of BIOX. We thank Tim for his contributions and are pleased that he will continue to be involved with BIOX."
Mr. Johnson said "I am truly honoured to join BIOX and look forward to working with the Board of Directors, strong executive team and dedicated employees of this great organization in achieving its continued development and success."
Mr. Haig said "I am proud of our company's achievements over the past 11 years, support this transition and will work hard to ensure BIOX's future success. I am confident that, with Bill's leadership skills and experience, we will build on our past and create a very strong future."
About BIOX Corporation
BIOX is a renewable energy company that designs, builds, owns and operates biodiesel production facilities. BIOX currently owns and operates a biodiesel production facility in Hamilton, Ontario, Canada with a nameplate capacity of 67 million litres per year. BIOX has an innovative, proprietary and patented production process that is capable of producing the highest quality, renewable, clean burning and biodegradable biodiesel fuel utilizing a variety of feedstocks - from pure seed oils to animal fats to recovered vegetable oils with no change to the production process. BIOX's high quality biodiesel fuel meets North American (ASTM D-6751) quality standards. BIOX is Canada's largest biodiesel producer and is focused on building, owning and operating a network of commercial scale biodiesel production facilities in jurisdictions where clearly defined renewable fuel standards policies exist.
Forward-looking Statements
Certain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of BIOX, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward-looking statements. These statements reflect BIOX's current views regarding future events and operating performance are based on information currently available to BIOX, and speak only as of the date of this press release. These forward-looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the fact that BIOX's results of operations and business outlook are highly dependent on a mix of legislation and producer payment programs and tax credits, including inclusion of BIOX's second production plant in the ecoENERGY for Biofuels Program and receiving funding for that plant under that program; and upon commodity prices, which are subject to significant volatility and uncertainty. Many factors could cause the actual results, performance or achievements of BIOX to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including factors described in this press release and those discussed in BIOX's publicly available disclosure documents, as filed by BIOX on SEDAR ([ www.sedar.com ]). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, BIOX does not intend and does not assume any obligation to update these forward-looking statements.
