Board Changes

28 Nov 2005 09:24

Stanelco PLC28 November 2005 28th November 2005 Stanelco plc ("Stanelco") Appointment of new Chief Executive and Executive Vice-Chairman Stanelco plc, the RF applications group, is pleased to announce the appointmentof Martin Wagner as Chief Executive Officer. Ian Balchin, who has served theCompany as Chief Executive over the past five years becomes Executive Vice-Chairman. Martin Wagner, 49, joined Stanelco in August 2005 as Commercial Director ofStanelco RF Technologies Limited. Previously Martin was Head of PackagingDevelopment at ASDA Stores Limited where he spent five years heading up a numberof different commercial teams delivering both significant savings to thebusiness and leading ground breaking strategic initiatives. Martin was directlyinvolved in ASDA's adoption of the GREENSEAL technology project. Martin bringsto Stanelco his experience of working directly in the food and beverage supplyindustry as well as the healthcare and pharmaceutical industries at directorlevel. Whilst formerly part of the Executive Management Group at ASDA, Martinhas not held any directorships in the last five years. Martin Wagner, Chief Executive, Stanelco plc commented: "I am delighted that Ianand the Board have given me this opportunity. I am looking forward in particularto making a major contribution to the adoption of Stanelco's GREENSEALTechnology and Starpol 2000 packaging materials within the food and retailingindustries." Ian Balchin, Executive Vice-Chairman Stanelco plc commented: "I am delightedthat Martin has accepted this role to lead Stanelco through thecommercialisation phase of the Company's development. Martin is particularlywell placed to accelerate delivery of our GREENSEAL and Starpol technologies toretailers and their supply chains. I will now be able to focus on projects thatwill take the business forward at a strategic level and look forward tocontinuing to make a significant contribution in this new role." Philip Lovegrove, Chairman Stanelco plc commented: "Over the last few yearsStanelco has undergone a period of dynamic change in direction and recently hasbeen almost exclusively a research and development company. We have now reachedthe point where the projects that we have been working on are beingcommercialised. This part of the Company's development requires a differentskill set from the Chief Executive and we are delighted to have attained thoserequirements by appointing Martin Wagner to take the Company into this excitingphase and to fulfill its considerable potential. With Martin and Ian workingtogether in their new roles we are well positioned to fully exploit our chosenmarkets."Ends For further information please contact: Ian Balchin, Executive Vice ChairmanStanelco PLCTel: +44 (0)2380 867 100 Jonathon Brill/Billy CleggFinancial DynamicsTel: +44 (0)20 7831 3113 About Stanelco plc The Stanelco Group of companies (the Group) has brought together expertise inradio frequency (RF) technology, RF applications and biodegradable materialsciences to create a revolutionary range of packaging technologies. Stanelco's philosophy is that new products and processes must offer solutionsand applications which: • give higher added value, • are greener, more environmentally sustainable than those they replace and • have protectable intellectual property rights. Stanelco will develop the products and processes to a demonstration stage andthen work with partners in order to reach the markets; and under thesecircumstances Stanelco will usually seek to license its technology. Stanelcoinvests considerable time and resources in ensuring its technologies areprotected via layers of patents wherever possible. In this way Stanelco believes it can minimise commercial risk and preserve thehighest value for shareholders. The products offering the prospect of near term revenue generation are beinggiven priority over the Group's resources. Stanelco was founded in 1953 and is a world leader in the development of radiofrequency technologies for processing polymers for edible and packagingapplications and the design and manufacture of optical fibre technology,induction heating and dielectric welding equipment. Stanelco's currentdevelopments include GREENSEAL Food tray lidding technology, STARPOL (starch /pva blended material), STARPOL 2000 (highly functional, low cost biodegradablepackaging material with food contact approvals) FrogPack high impact low costpackaging format, CradleWrap range of biodegradable air cushion packaging,Soluble tape, 100% water-soluble films and adhesives, Biodegradable Airbag (voidfill) packaging, edible hard-shell capsule technology, water-soluble detergentcapsules, edible sachets and waste packing. GREENSEAL, STARPOL, FrogPack and CradleWrap are all trademarks of the Stanelcoplc group. This information is provided by RNS The company news service from the London Stock Exchange