BELL GARDENS, Calif., Oct. 19 /PRNewswire/ -- USA Biomass Corporation
(Nasdaq SmallCap: USBC) announces that it has appointed Lance B. Jones as its
new President & CEO. Mr. Jones will also serve on the Company's Board of
Directors. The appointment is effective immediately. Mr. Fred H. Behrens,
formerly Chairman and CEO, has resigned from the Company for personal reasons,
but has agreed to assist the Company as needed during this transitional
period.
"USA Biomass has completed its transition from an agricultural/real estate
development enterprise to a rapidly-growing environmental and waste/recycling
company. Revenues for the year 2000, which are expected to approach
approximately $20,000,000, should exceed our prior year's results by more than
150%," said Fred H. Behrens, out-going Chairman & CEO, USA Biomass. "As USA
Biomass' largest shareholder, I am extremely pleased that Lance has agreed to
take the helm and help guide our company through this period of rapid growth;
I am confident that this accomplished industry veteran will enhance
shareholder value."
Lance B. Jones is President of Lance B. Jones & Associates, Environmental
Consultants. From 1992 to 1996, he served as assistant general counsel for
Western Waste Industries, then the fifth largest solid waste collection
company in the United States, and also as assistant to the President for green
waste diversion programs. From 1982 to 1992, Mr. Jones was Chairman and Chief
Executive Officer of United Pacific Corporation, a pioneer biomass/green
waste-recycling firm later acquired by Western Waste in 1992. Mr. Jones
served four terms as the elected District Attorney of Sheboygan County,
Wisconsin from 1969 to 1977, and President of the Wisconsin DA's Association
in 1977. Prior to founding United Pacific Corporation, Mr. Jones served as
staff legal counsel to the Wisconsin State Senate. He is a 1968 graduate of
the University of Wisconsin (Madison) Law School.
Separately, the Company announced the appointment of A. James Nikas to its
Board of Directors. The current Board of Directors, comprised of five
members, including Messrs. Eugene W. Tidgewell, H. Glen Leason, Lance B.
Jones, A. James Nikas, and Ms. Marlene A. Tapie, may be expanded to as many as
seven members as the Company continues to seek out independent and
acknowledged leaders in the environmental and waste industries. The precise
date and location of the Company's Annual Meeting, which will be held in
December 2000, will be announced shortly.
A. James Nikas, III is a private investor and served as a consultant to
the Company in 1993 and 1994. Since 1993, has been president of GeoVerde
Corporation, which provides venture capital and services to start-up companies
and rapidly expanding businesses. He also serves as a director and treasurer
of AMUR Pharmaceuticals, Inc. From 1984 to 1993 he was a principal of
GeoMarketing, which provides consulting services to start-up businesses. From
1979 to 1984 he was an exploration geologist for Standard Oil Company of Ohio.
Mr. Nikas graduated in 1980 with a Bachelor of Arts Degree in Geology from San
Francisco State University.
About USA Biomass:
USA Biomass, including its subsidiary American Waste Transport, currently
handles over 10,000 tons per day of green waste and municipal solid waste,
which it transports, under contract, for Waste Management and Allied
Waste/BFI. The recycled green waste (including wood waste) is marketed to
various end users for fertilizer, boiler fuel (for electricity generation) and
other uses. USA Biomass common stock trades on the Nasdaq SmallCap Market
under the symbol USBC.
Web site: http://www.usabiomass.com
For further information, contact:
Lance B. Jones: President & CEO, USA Biomass Corporation: 562-928-9900.
Investor Relations: Philippe Niemetz or Walter DeCanio, WPH Consultants
Ltd., 800-477-7570, or 212-344-6464, Fax: 212-509-2755
Email: wphconsultants@msn.com
This press release contains forward-looking statements pursuant to the
"Safe Harbor" provisions of the Private Securities Litigation Reform Act of
1995. With the exception of historical information, the matters discussed in
this press release are "forward-looking statements" that involve a number of
risks and uncertainties. The actual future results of the Company could
differ significantly from those statements due to factors including, but not
limited to: risks associated with the ability to profitably perform on the
contract; managing the Company's growth; the continuation in the growth of the
Company's biomass business, the continuation in general economic conditions;
various conditions specific to the green waste processing industries; and
factors discussed in the Company's annual report on Form 10-KSB for the fiscal
year ended December 31, 1999 and the Form 10-Q for the period ended June 30,
2000
SOURCE USA Biomass Corporation
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Related links:
http://www.usabiomass.com
CONTACT:
Lance B. Jones, President & CEO of USA
Biomass Corporation, 562-928-9900; or Investor Relations -
Philippe Niemetz or Walter DeCanio both of WPH Consultants Ltd.,
800-477-7570, or 212-344-6464, Fax: 212-509-2755,
wphconsultants@msn.com
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