MINNEAPOLIS, Oct. 1, 2012 /PRNewswire/ -- Appliance Recycling
Centers of America, Inc. (NASDAQ: ARCI) today reported that the
company has promoted Jeffrey
Cammerrer to the position of Chief Financial Officer,
effective October 1, 2012. Cammerrer
has served as ARCA's Vice President of Accounting and Finance since
March 2012 and as Corporate
Controller since July 2008. As CFO,
Cammerrer will oversee all aspects of corporate finance and
accounting, including financial reporting, financing activities,
budgeting and financial planning, and investor relations. The
position of CFO was formerly held by Peter
Hausback, who left the company in November 2011.
Edward R. (Jack) Cameron,
President and Chief Executive Officer, commented, "In searching for
a new Chief Financial Officer this year, we determined that we have
the appropriate talent in-house. I have been impressed by Jeff's
business acumen and commitment to the integrity of ARCA's financial
management systems. He has also demonstrated the leadership
qualities needed to effectively manage costs while championing
ARCA's growth strategy and new business initiatives."
Prior to joining ARCA, Cammerrer held the position of Director
of Finance for Milestone AV Technologies. He has also held several
accounting management positions, including Vice President of
Accounting at Eschelon Telecom, Inc. Cammerrer is a CPA (inactive)
and holds a B.S. in Accounting from North
Dakota State University.
About ARCA
ARCA's (NASDAQ: ARCI) 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 over 200 utilities in the U.S. and Canada. Twenty 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.
SOURCE Appliance Recycling Centers of America, Inc.