MINNEAPOLIS, Dec. 22, 2014 /PRNewswire/ -- Appliance Recycling
Centers of America, Inc. (NASDAQ:ARCI), a leading provider of
appliance recycling and retailing services, today announced that
Jeffery Ostapeic has been appointed
the company's Chief Financial Officer. Mr. Ostapeic is a certified
public accountant and served most recently as an audit partner with
Grant Thornton LLP, an international accounting firm. He previously
served with the Ernst & Young LLP and McGladrey & Pullen
LLP public accounting firms.
Mr. Ostapeic brings 23 years of accounting and financial
experience to ARCA, with particular expertise in SEC reporting,
financial analysis and business development.
"Jeff's solid and up-to-date background in accounting, financial
reporting and other technical areas is well suited for ARCA. He has
also managed numerous teams of individuals over his public
accounting career," said Mark
Eisenschenk, President and CEO. "I have complete confidence
that under Jeff's leadership, ARCA will continue to improve its
operating efficiency and financial effectiveness."
About ARCA
ARCA's three business components are
uniquely positioned in the industry to work together to provide a
full array of appliance-related services. ARCA Advanced Processing,
LLC employs advanced technology to refine traditional appliance
recycling techniques to achieve optimal revenue-generating and
environmental benefits. ARCA is also the exclusive North American
distributor for UNTHA Recycling Technology (URT), one of the
world's leading manufacturers of technologically advanced
refrigerator recycling systems and recycling facilities for
electrical household appliances and electronic scrap. ARCA's
regional centers process appliances at end of life to remove
environmentally damaging substances and produce material byproducts
for recycling for utilities in the U.S. and Canada. Eighteen company-owned stores under
the name ApplianceSmart, Inc.® sell new appliances
directly to consumers and provide affordable ENERGY
STAR® options for energy efficiency appliance
replacement programs.
This press release contains statements that are
forward-looking statements as defined within the Private Securities
Litigation Reform Act of 1995, including statements regarding
ARCA's future success. These forward-looking statements are subject
to risks and uncertainties that could cause actual results to
differ materially from the statements made, including the risks
associated with general economic conditions, competition in the
retail and recycling industries and regulatory risks. Other factors
that could cause operating and financial results to differ are
described in ARCA's periodic reports filed with the Securities and
Exchange Commission. Other risks may be detailed from time to time
in reports to be filed with the SEC.
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SOURCE Appliance Recycling Centers of America, Inc.