MONTREAL, Québec (January 16, 2017) – Argex Titanium Inc. (TSX: RGX) (“Argex” or the “Corporation”) is pleased to announce the appointment of James P. Berresse as a director of the Corporation.
James P. Berresse is a seasoned businessman with a background in mergers and acquisitions, divestitures, start-up operations and finance. Over the course of his career, he has shown leadership in developing and executing strategic initiatives, building strong customer and supplier relationships and motivating employees to achieve win-win stakeholder objectives. Mr. Berresse has a strong track record, having successfully led a large, diverse, global organization to record levels of revenue and consistent profitability and taken a start-up company to significant levels of revenue and profitability within a five-year timeframe.
Mr. Berresse has been President and Chief Executive Officer of Eastland Tire, a Georgia, US-based start-up, since 2007, where his mandate covered all aspects of running a newly formed business, including staffing, securing and servicing customers, negotiating contracts and managing relationships with product suppliers. In less than six years, he succeeded in growing the company’s revenues from zero to US $60 million annually and net income to US $10 million annually.
Before joining Eastland Tire, Mr. Berresse was with Phelps Dodge Corporation for some 12 years, working for various entities within the corporation, at increasing levels of responsibility. Most recently, he was President and Chief Executive Officer of Columbian Chemicals Company, a wholly owned subsidiary and leading manufacturer of carbon black, an engineered material that improves the strength, durability and overall performance of a range of products.
Mr. Berresse has a Bachelor of Science (Finance) degree from Arizona State University and over three decades of senior management experience in finance and manufacturing.
“We are delighted to welcome Jim to the Board of Argex,” said Mazen Alnaimi, Chairman of the Board and CEO of Argex. “His exceptional financial expertise and manufacturing sector experience will be valuable assets for the rest of the team as we prepare to enter a new stage in the Corporation’s development.”
About Argex Titanium
Argex Titanium Inc. has developed an advanced chemical process for the volume production of high grade titanium dioxide (TiO2) for use in high quality paint, plastics, cosmetics and other applications. The Corporation’s unique proprietary process takes relatively inexpensive and plentiful source material from a variety of potential vendors, and produces TiO2 along with other valuable by-products. Argex’s process provides a significant cost and environmental advantage over current legacy TiO2 production methods.
Corporate Communications and Investor Relations
This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of Argex, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Argex will derive. Forward-looking statements and information are based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Argex’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in Argex’s Annual Information Form for the fiscal year ended December 31, 2015, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. Argex does not intend, nor does Argex undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.