SEPTEMBER 2009

  BUSINESS/ORGANIZATIONAL BRIEFS

Wolok now consulting for waste industry

Bill Wolok, founder of Benlee, Inc. and currently a consultant for the business, has expanded his services by creating a new business – WBW Sales, LLC.

WBW Sales, located in Bloomfield Hills, Michigan, will provide consulting services and equipment for the waste industry.

Randy LeClair joins sales force at SC Environmental

Randy LeClair has joined the sales department at SC Environmental, LLC.

LeClair is based in Wisconsin and will be selling waste and recycling equipment and systems. SC Environmental sells and services electronic waste, wire, cable and radiator processing systems, balers, shredders, conveyors, and scrap processing equipment to many industries. LeClair has 32 years experience in the scrap metal processing industry.

Patrick Industries sells extrusion operations

Patrick Industries, Inc., a manufacturer and distributor of building and component products for the recreational vehicle, manufactured housing and industrial markets, announced that it has completed the sale of certain assets of its aluminum extrusion operation located in Mishawaka, Indiana to Patrick Aluminum, Inc.

Net proceeds from the sale were $7.4 million and are subject to final transaction costs and certain closing adjustments.

Approximately $4.4 million of the net proceeds were used to pay down principal on the company’s term loan and pay off its Economic Development Revenue Bonds related to this facility, and the remaining funds were used to reduce borrowings on the company’s revolving line of credit.

Hedge fund manager joins ThermoEnergy board

ThermoEnergy Corporation an integrated technologies company engaged in the worldwide commercialization of patented and proprietary municipal and industrial wastewater treatment and power generation technologies, announced that J. Winder Hughes, III, has joined the company’s board of directors.

Hughes is the managing director of the private equity firm of Hughes Capital Investors, LLC. In 2000, Hughes formed the Focus Fund, LP, a Florida-based, highly concentrated equity partnership that focuses on publicly-traded emerging growth companies. Over the past two years, the Focus Fund has become one of the largest investors in ThermoEnergy Corporation. Prior to the formation of Hughes Capital and the Focus Fund, Hughes held positions with Prudential Securities, Kidder, Peabody & Co., and Barnett Banks of Florida.

Veolia acquires certain assets from Republic

Veolia ES Solid Waste, Inc. announced it has acquired certain assets in Kentucky from Republic Services, Inc. being divested as a result of Republic’s recent merger with Allied Waste Industries, Inc. These newly acquired assets will provide additional incremental volumes at existing Veolia ES Solid Waste landfills in Kentucky and are expected to generate approximately $2.2 million in annual revenue.

The assets consist of five commercial collection routes in and around Lexington, Kentucky. The waste collected will be internalized at the Veolia ES Morehead Landfill in Rowan County.

Details of the transaction were not disclosed.

Nick Narsavidze appointed CEO of USST Holdings

USST Holdings announced the promotion of Nick Narsavidze, former senior vice president of business development of U.S. Science & Technology Corporation, to the position of chief operating officer of USST Holdings, Inc.

USST Holdings also announced the formation of the holding company’s initial operating subsidiary, U.S. Science & Technology Corporation, which will lead engineering and science aspects of the company’s waste-to-energy and renewable energy projects.

As chief operating officer, Narsavidze will serve as the primary liaison between USST Holdings and the leadership of U.S. Science & Technology Corporation, whose leadership appointments will be announced in the coming weeks.

In 1999, Narsavidze launched TNN International Inc., a firm focused on finding, researching, marketing and deploying new technologies, products and services between the United States and Eastern Europe. He also worked closely with the Ministry of the Environment and Protection Agency of Ukraine on developing technologies and technology transfers from the United States to solve environmental and ecological issues such as emissions and exhaust gases from metallurgical plants and other factories.

Smurfit-Stone names Cutter vice president of R&D

Smurfit-Stone Container Corporation announced the promotion of Jim Cutter to vice president of its research and development (R&D) group.

Cutter will oversee all R&D related activities, including management of Smurfit-Stone’s packaging testing lab in Carol Stream, Illinois. He will also oversee the integration of Smurfit-Stone’s Packaging Consultant/Value Proposition Proposal (VPP) team, which helps customers identify ways to improve productivity and efficiency in their packaging operations.

Cutter joined Smurfit-Stone in 2007 as senior director of their Packaging Consultant/VPP team.

Cherry opens stabilized material plant

Cherry’s Stabilized Materials Division has opened another stabilized material plant, giving the company a total of four stabilized facilities in the greater Houston Area. This newest plant produces stabilized road base material for companies located primarily in northwest Houston.

The new stabilized materials (pug mill) plant has a production capacity of 750 tons per hour of stabilized road base material. A state-of-the-art facility, the new pug mill plant has one of the largest production capacities in the Houston area and is situated on a 10-acre site where Cherry operates a large concrete recycling facility.

MPI signs agreement with Eclipse Magnetics

Magnetic Products, Inc. (MPI), a worldwide provider of both magnetic and non-magnetic material handling solutions, announced that it has recently been named master agent of Eclipse products in the United States.

Eclipse Magnetics, Ltd., based in Sheffield, United Kingdom, manufactures over 20,000 different products, including magnets, magnet assemblies, magnet sub-assemblies, magnetic tools, magnetic chucks, magnetic separators, magnetic filters, magnetic accessories and custom engineered magnetic handling units.

EnergySolutions adds two new directors to board

EnergySolutions, Inc. announced changes to the EnergySolutions board of directors. Lance Hirt, who has served as a board member since 2005, is stepping down after serving as chairman from 2005-07 and currently as a board director.

New appointments to the board of directors are Clare Spottiswoode from the United Kingdom and Dr. Pascal Colombani from France. Clare Spottiswoode has served in several capacities in the United Kingdom including director general of Ofgas, the regulator of the gas industry. During her career she has also acted as an economist at HM Treasury, lectured at London Business School and set up and managed private business interests. She has also held a number of non-executive directorships including deputy chairman of British Energy.

Dr. Colombani is a member of the French Academy of Technology and has been a senior advisor for high technology and energy at AT Kearney Paris since 2003. Dr. Colombani has held a number of positions in the nuclear energy sector, including chairman and CEO of the French Atomic Energy Commission (CEA), chairman of the Supervisory Board of Areva. Dr. Colombani holds a doctorate in science from the University of Paris Sud.

O-I announces managing director of China

Owens-Illinois, Inc. has selected Paul Wang to serve as the company’s managing director in China.

Wang joins O-I from International Paper, where he held a number of senior level positions in sales and marketing, business development, government relations and general management.

In his new role at O-I, Wang will be located in Shanghai and will assume responsibility for all of the company’s operations in China. As part of his role, Wang will also support global operations through low cost strategic sourcing from China through O-I’s China Trading Company and Tianjin Mould Company. A top priority will be accelerating O-I’s growth strategy in China, including organic growth and merger and acquisition activity.

Perma-Fix announces departure of COO

Perma-Fix Environmental Services, Inc. announced that the company has accepted the resignation of Larry McNamara, as vice president and chief operating officer of the Company.

The resignation was effective September 1, 2009. McNamara’s duties as chief operating officer will be temporarily assumed by Dr. Louis F. Centofanti, the Company’s chairman of the board, president and chief executive officer, while the Company commences a search for a new chief operating officer.

Oakleaf hires LaMancuso as chief sales officer

Oakleaf, a provider of sustainable waste logistics and recycling solutions, has announced the hiring of John LaMancuso as chief sales officer.

LaMancuso brings with him a wealth of executive sales and management experience including a successful tenure with Automatic Data Processing, Inc. (ADP). Throughout his 25 years with ADP, LaMancuso held management roles with increasing levels of responsibility. Most recently he served as senior vice president of sales for the major accounts division in Parsippany, New Jersey.

In his role as chief sales officer, LaMancuso will position Oakleaf as a total solution that encompasses the four smaller divisions, and implement strategies to effectively cross market those services. Leading a sales force of 60, LaMancuso will be responsible for all sales efforts and initiatives for the waste logistics and recycling division, Oakleaf’s largest business unit, which currently generates over $525 million in revenue. LaMancuso will push pipeline development, and evaluate best practices to facilitate a best-in-class sales infrastructure.

Round2 announces expanded executive team

Round2, Inc. announced the expansion of its executive leadership team with the addition of Mark Chazanow as chief operating officer and Tanya Putnam as chief financial officer.

Chazanow brings more than 16 years of experience in the industrial recycling industry. Chazanow founded his prior company, Metallic Incorporated, in 1999 and led the organization through a successful sale to a major metals management company. Chazanow will be responsible for the daily management of Round2’s operations for the company.

Putnam, a prior controller at Dell, Inc., complements the Round2 executive team with nearly 20 years of experience directing finance, accounting and human resource teams. Putnam’s specialty is building and consolidating divisions during periods of corporate growth and leading them to higher levels of performance. Putnam’s will be responsible for managing Round2’s financial health throughout its important growth period.

BP and Verenium partner in ethanol production

BP and Verenium Corporation announced that its 50-50 joint venture company will operate under the name Vercipia Biofuels and plan to relocate its corporate headquarters to Florida.

Vercipia will focus on the development of one of the nation’s first commercial-scale cellulosic ethanol facilities, located in Highlands County, Florida.