Appliance Recycling Centers of America Promotes Jeffrey Cammerrer to CFO
MINNEAPOLIS, Oct. 1, 2012
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
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
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.
Contact: Edward R. (Jack) Cameron, CEO, +1-952-930-9000
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