Friday, February 12, 2010
JBI, Inc. Hires Michael Kaplanis as Vice-President, Mergers & Acquisitions and Strategy
NIAGARA FALLS, Ontario, Feb. 12, 2010 (GLOBE NEWSWIRE) -- JBI,
Inc. (the "Company") (OTCBB: JBII) announces that Michael Kaplanis
has been appointed as JBI's Vice President of Mergers, Acquisitions
and Strategy. In this capacity, Mr. Kaplanis will be
responsible for leading and coordinating JBI's analysis of
strategic acquisitions, forming national and international
Plastic2Oil growth strategies, providing green energy research, and
helping to execute JBI's business model.
Mr. Kaplanis received his Bachelor of Arts from Duke University
where he graduated Summa Cum Laude with a degree in Biological
Anthropology and Anatomy and a minor in history. He completed the
four-year curriculum in three years while being a member of the
men's varsity football team.
From 2006-2007, Mr. Kaplanis served as an Investment Banking
Analyst in the Global Power and Utilities Group with Morgan Stanley
in New York, NY where he performed analysis of corporate mergers
and acquisitions, asset acquisitions and divestitures, equity and
debt offerings, leveraged buyouts, credit assessments, dividend
analysis and share repurchases. He performed extensive
financial modeling including accretion/dilution, discounted cash
flow, leveraged buyout, comparable company and precedent
transaction analysis. Mr. Kaplanis also worked on an initial public
offering of a clean technology company while at Morgan Stanley.
Mr. Kaplanis was recently employed as a Senior Associate in the
Global Equities Energy & Utilities Group with Citadel
Investment Group in Chicago, IL. He joined Citadel in 2007 and was
promoted from Associate to Senior Associate at the end of 2008.
During 2009, Mr. Kaplanis became responsible for coverage of
companies in the regulated utility, diversified utility, merchant
power and electric service subsectors of the U.S. Utility Industry
for Citadel. He gained experience in stock selection, quantitative
risk analysis, portfolio construction and position sizing in market
neutral, long-short equities portfolio. While at Citadel, he
provided fundamental research and investment insight to the
Portfolio Manager and his team.
Mr. Kaplanis has a keen interest in clean technology, smart grid
deployment, next generation energy sources and green
initiatives.
Michael Kaplanis commented, "When I studied JBI's business model, I
was immediately impressed with the Company's dynamic growth
potential and, in particular, the global expansion
possibilities that I envision for its unique P2O technology. I look
forward to enabling and accelerating JBI's growth through strategic
acquisitions and leveraging P2O strategies."
John Bordynuik, JBI's CEO / President, concluded, "I am
thrilled with Mr. Kaplanis' appointment. Michael is a
highly-qualified professional leader, who brings important
expertise to our growing and experienced management team. His
successful background, analytical talents, business acumen, and
energetic drive will clearly benefit our aggressive growth
model."
About JBI, Inc.
JBI, Inc. is transitioning to become a global technology leader
whose purpose is to mine data from JBI's large information archive,
find under-productive entities to inject our superior proprietary
technologies into, and benefit from increased productivity and
profitability, beginning with Plastic2Oil. JBI has also acquired
the following operations:
JAVACO, Inc. ("Javaco") is part of the Supplier Diversity Network,
WBENC. JAVACO, Inc. currently distributes over 100 lines of
equipment from fiber optic transmitters to RF connectors. To
further enhance business in the United States, new distribution
lines are frequently being added including a line of home theater
and audio video products. Javaco will operate and manage the
Company's Plastic2Oil sites in Mexico.
Pak-It, LLC ("Pak-It"): Using the patented Pak-It(TM) delivery
system (liquid cleaner in a water soluble sachet) Pak-It can
deliver glass cleaner, disinfectant, multi-purpose, and many more
cleaning products (42 products currently) shipped in tiny packages
of condensed cleaner (inside a 'dry' 1 quart container). This
delivery method is "green" since it's fully biodegradable and saves
thousands of dollars in shipping. The user simply adds water to the
container without measuring or cutting the Pak-It. Large retailers
and many national Building Service Contractors already using the
product have documented significant cost savings from shipping,
training, inventory control and space.
Accordingly, our revenue sources presently include (i) income from
reading archived tapes (including microfiche) from clients such as
NASA, (ii) income from the recently acquired Javaco, Inc., (iii)
income from the sale of Pak-It products, and a bulk chemical
facility which we realized beginning October 1, 2009, and (iv) from
the anticipated commencement of operations in the first quarter of
2010 with Plastic2Oil, a process and service that converts plastic
to fuel oil. For more information, please see http://www.jbiglobal.com and
http://www.javacoinc.com and
http://www.pakit.com/.
Forward-Looking Statements
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act. The Private
Securities Litigation Reform Act of 1995 (PSLRA) implemented
several significant substantive changes affecting certain cases
brought under the federal securities laws, including changes
related to pleading, discovery, liability, class representation and
awards fees as of 1995. Those statements include statements
regarding the intent, belief or current expectations of JBI, Inc.,
and members of its management as well as the assumptions on which
such statements are based.
Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those contemplated by such forward-looking
statements. The Company undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results.
CONTACT: JBI, Inc.
John Bordynuik, President and CEO
john@johnbordynuik.com
Investor Relations
James Parker
+1 (916) 990-3667
jparker@jbiglobal.com