Solucorp Industries Appoints New President
June 07 2004 - 2:32PM
PR Newswire (US)
Solucorp Industries Appoints New President -- Initiates Corporate
Office Move To Fort Lauderdale, Florida -- WEST NYACK, N.Y., June 7
/PRNewswire-FirstCall/ -- Solucorp Industries, Ltd. ("The Company")
(OTC:SLUP), announced today that its Board of Directors has
appointed Richard A. Runco as President of Solucorp Industries Ltd.
Runco is the CEO and Chairman of WITS (Waste Innovative Technology
Solutions) of Ft. Lauderdale, Florida and previously held executive
level positions at Finalco Group Inc, Equilease Corp (an Allied
Signal Subsidiary) and Citibank where he was the Director of Tax
Administration. While at Citibank, Runco was appointed to the
Presidential Commission on personal interchange, which was designed
to cross train and familiarize corporate and government employees
with the impact of their decisions on both the corporations and the
U.S. Government during the Ford and Carter presidential
administration. Runco has also served as special assistant to the
Director of Finance and Administration of the U.S. Small Business
Administration. Runco holds an MBA from City University in New York
and graduated with a B.A. in accounting from St. John's University.
Mr. Runco said, "Solucorp is at a unique time in its growth phase.
With critical technologies going to market and the potential for
exponential development, I look forward to working with the
Solucorp team to ensure continued success." Mr. Runco continued,
"Over the next several months, I intend to work toward
commercialization of Solucorp's IFS product lines while building
the Company's infrastructure and ensuring completion of audited
financials and other regulatory compliance issues." Simultaneous
with Mr. Runco's appointment, the Company pursuant to a "Letter of
Intent" has substantially completed "due diligence" with the
intention of acquiring WITS (Waste Innovative Technology Solutions)
Inc. of Fort Lauderdale, Florida. WITS is currently the owner or
"irrevocable" sole licensee of five (5) patents and patent pending
for the electrocoagulation (EC) waste water treatment process
technologies which are highly synergistic to the Company's MBS(R)
soil remediation process giving Solucorp metal waste water
treatment capabilities. WITS provides the Company with a proven and
accomplished remediation, marketing and legal expertise capable of
advancing the full commercialization of its remediation
technologies while ensuring that the Company meets all the
requirements of U.S. and Worldwide environmental regulators. Also,
Mr. Runco will begin work immediately to enable the Company to meet
the requirements of the 12G(1) fully reporting Company Act to
pursue the listing on the OTC:BB. The Company will initiate
necessary filings, 10K/SB and 10Q's, to comply with fully reporting
requirements. About Solucorp Industries SOLUCORP is an innovative
developer of superior metals remediation technologies. The Company
develops environmentally-friendly technologies for the treatment
and prevention of hazardous heavy metal contamination of waste
streams. Solucorp owns two patents on its Molecular Bonding System
(MBS(R)) technology, has applied for several patents including
bullet traps, projectiles, paint strippers and filter material with
its IFS technology and has received a notice of allowance from the
Patent Trademark Office (PTO) for the main IFS patent application.
The effectiveness of the Company's patented MBS is acknowledged by
its successful completion of the U.S. EPA's Superfund Innovative
Technology Evaluation (SITE) Program. MBS has proven to cost
effectively and permanently remediate heavy metals contamination in
soils and industrial wastes. MBS has been successfully used
internationally in soil and other remediations as well as in the
Company's preventative technology IFS (Integrated Fixation System).
IFS delivers consumer product safety systems to manufacturing
institutions, and can be applied to a multitude of hazardous
pollutant sources that render them insoluble, and hence,
non-hazardous, at the end of a product's life cycle. Consumer
products targeted for IFS include: auto and household batteries,
mercury switches, paint removers, electronic circuit boards and air
emission and paint booth filters. For additional company
information, visit: http://www.solucorpltd.com/. For updated
investor information, visit: http://www.otcfn.com/slup. The
foregoing discussion contains forward-looking statements, which are
based on current expectations. Actual results, including the timing
and amount of revenues recognized, contracts awarded and performed
and net income may differ due to such factors as: delays in payment
on contracts due to dealings with governmental and foreign
entities; fluctuations in operating costs associated with changes
in project specifications; economic and other conditions affecting
the ability of prospective clients to finance projects; and other
risks generally affecting the financing of projects. In March 2003,
Solucorp settled a civil action by the SEC the details of which can
be found on the SEC website, as such investors are cautioned to
perform a proper due diligence and consult licensed professionals
prior to making an investment decision. CORPORATE CONTACT: Brian
Binckes 913-685-4530 DATASOURCE: Solucorp Industries, Ltd. CONTACT:
Brian Binckes of Solucorp, +1-913-685-4530 Web site:
http://www.solucorpltd.com/
Copyright