Last checked at 19 Dec 2008 07:01
19 December 2008
Stanelco plc ('Stanelco' or 'the Company')
Appointment of Group Finance Director
The Board of Directors (the 'Board') of Stanelco, the Bioplastics and Radio Frequency (RF) technology business, is pleased to announce the appointment of Susan "Sue" Bygrave, aged 43, as Group Finance Director and member of the Board with effect from 5 January 2009.
Prior to joining Stanelco, Sue held the position of Group Finance Director of VEGA Group plc ("VEGA"), the specialist professional services group providing clients with consulting, technology and managed solutions business. VEGA floated on the London Stock Exchange in 1992 and was listed on the FTSE Fledgling Index (Software and Computer Services classification) and the FTSE techMark Index. Following flotation, VEGA achieved growth both organically and by acquisition, until it was acquired in February 2008, by Finmeccanica SpA for £62m, and consequently de-listed.
Prior to this, Sue worked for Mettoni Group plc, DCS Group plc and KPMG with whom she qualified as a chartered accountant.
John Standen, Chairman of Stanelco, commented:
"Sue joins Stanelco at an exciting time and we are delighted to welcome her. The Board is confident that Sue's pragmatic approach and proven track-record in organic and acquisitive growth, as well as her established plc experience, will be invaluable at this important stage of Stanelco's pursuit of significant growth in the bioplastics sector".
Sue Bygrave, incoming Group Finance Director of Stanelco, commented:
"I am delighted to be joining Stanelco at this exciting time in its evolution and I look forward to working with the Board as we pursue the market opportunities and grow the business."
Further information on Ms Susan Jane Bygrave is set out below:
Sue Bygrave's directorships in the last five years (from which she has now resigned) comprise VEGA Group plc and Mettoni Group plc. In July 2002, while Sue Bygrave was a Director of the company, Mettoni Group plc was placed into administrative receivership.
Sue Bygrave does not have an interest in the ordinary shares of the Company.
Other than the information contained in this announcement, there are no other matters to be disclosed under paragraph 9.6.13R of the Listing Rules.
For further information please contact:
| Paul Mines, Chief Executive, Stanelco | Tel: +44 (0) 2380 867100 | ||
| Jonathon Brill/Caroline Stewart, Financial Dynamics | Tel: +44 (0) 20 7831 3113 |
About Stanelco
Stanelco is a market-leading British technology company at the forefront of development and commercialisation of bioplastics. Stanelco produces a biodegradable and sustainable range of products under the Bioplast brand. Such products are capable of replacing conventional oil-based plastics and have diverse application including flexible films, moulded products, extruded sheets and food wraps. In addition, Stanelco's separate Radio Frequency (RF) division has worldwide renown in the design and install of specialist RF furnaces, welders and induction equipment.
Stanelco already has some 200 patents and its future success relies on the expertise of its highly qualified commercial, research and development teams that are focusing on the invention and industrialisation of new biopolymer-based resins and on delivering products with ever greater functionality and sustainability.
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