Feronia Inc. Appoints New Managing Director of Palm Oil
TORONTO, ONTARIO -- (Marketwire) -- 03/25/13 -- Feronia Inc. (TSX
VENTURE:FRN) ("Feronia" or the "Company"), is pleased to announce the
appointment of Benedict Rich as Managing Director of Plantations et
Huileries du Congo (PHC), the Company's palm oil division.
Mr. Rich has extensive experience managing plantations operations in
emerging markets having held progressively senior roles at Eastern
Produce Kenya Ltd. ("EPK"), a tea plantations company in Kenya and
New Britain Palm Oil Ltd., a large-scale palm oil producer in Papua
In addition to the management of planting and harvesting operations,
Mr. Rich has held responsibility for various aspects of research and
development programmes in both tea and oil palm. He is an ISO
qualified internal auditor and has a keen interest and understanding
of sustainability and the environment in the Palm Oil industry,
having helped develop the industry's environmental, social and
sustainability standards whilst at New Britain Palm Oil.
Mr Rich, who is a British national, is expected to join the company
in early April, 2013. He will be based in the DRC and will report to
Feronia's COO, Raymond Batanga.
Bill Dry, CEO of Feronia Inc. commented:
"I am pleased to welcome Ben to the Company as the Managing Director
of PHC. The growth of our plantations is and will continue to be
through the re-planting of areas previously planted with oil palm. We
therefore have the opportunity to grow with less impact on the
environment than any other major palm oil producer and aim to be the
industry leader in sustainability and environmental sensitivity.
Ben's knowledge and experience in global best practices in plantation
management, particularly with regards to the environment and
sustainability, will be an important factor in us achieving this
About Feronia Inc.
-- Feronia operates large-scale commercial oil palm plantations and has
commenced an arable farming operation in the DRC.
-- The Company, through its subsidiaries, holds concessions on land which
is owned by the DRC government and on which its oil palm plantation and
farming operations take place.
-- The Company uses modern agricultural practices to operate and develop
its oil palm plantations and arable farming.
-- Feronia believes in the immense agricultural potential of the DRC for
high-quality edible oils, oil derivatives and foodstuffs given the
suitability of its climate and soil and the availability of a skilled
-- The Company's management team is comprised of experienced administrative
executives and senior agriculturalists with extensive experience in
managing both plantations and large-scale mechanized farming operations
in emerging markets.
-- Feronia is committed to sustainable agriculture, environmental
protection and providing jobs and economic growth for local communities.
-- For more information please see www.feronia.com
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes",
"may", "will". There can be no assurance that such statements will
prove to be accurate; actual results and future events could differ
materially from such statements. Factors that could cause actual
results to differ materially include, among others, regulatory risks,
risks inherent in foreign operations, commodity prices, competition,
and investments having no history of operations. Most of these
factors are outside the control of the Company. Investors are
cautioned not to put undue reliance on forward-looking information.
Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or obligation
to update publicly forward-looking information, whether as a result
of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Investor Relations Manager
(44)203-327-3033 or (44)7554-521421
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