MINNEAPOLIS, May 20, 2015 /PRNewswire/ -- Appliance
Recycling Centers of America, Inc. ("ARCA" or "the Company")
(Nasdaq: ARCI), a leading provider of appliance recycling and
retailing services, today announced the return of Edward ("Jack")
Cameron as the company's president and chief executive officer. The
company's newly elected five-member board of directors made this
decision after the conclusion of this week's annual shareholder
meeting.
Cameron founded ARCA in 1976 and served as its president and
chief executive officer until August
2014, when he retired from those positions while retaining
his role as ARCA's chairman of the board.
"I'm excited to lead ARCA's day-to-day operations again," said
Cameron. "We've built a unique, synergistic business model –
recycling capabilities, utility partnerships and retailing – along
with a great team of employees, solid infrastructure and a healthy
balance sheet."
New board member Tony Isaac,
chair of ARCA's audit committee, commented, "Jack brings an
unmatched combination of industry experience, knowledge and
leadership that will be instrumental to ARCA's continued
success."
About ARCA
ARCA's 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 twelve
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 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.