NEW HAMPTON, N.Y., Jan 08, 2004 -- Dino A. Rossi, President and CEO of Balchem Corporation (Amex: BCP), today announced several organizational changes within its Encapsulates business segment. These organizational changes will reduce operating expenses and improve the overall financial performance of the Company. Such changes will streamline key marketing functions in support of the existing emphasis on exceptional customer support for the Encapsulates business and position this segment for future growth.
The following appointments have been announced:
Dr. Dana Putnam, Director, Animal Nutrition and Health, responsible for
the development of encapsulated products for the animal nutrition
industry and managing the global sales and marketing of the product
Ilya Zhivkovich, National Sales Manager, Food and Nutrition, responsible
for managing the U.S. sales group and activities that are focused on the
human food and nutritional supplement markets.
Dr. Paul Richardson, Director of Research and Development, responsible
for new product and process technology development.
Carl J. Pacifico, Manager, International Business Development,
responsible for directing and developing international distributorships
in select food industry markets.
Lucien Hernandez, Business Manager, Nutrients, responsible for developing
the human choline and other nutritional products portfolio to be marketed
on a global basis.
"We continue to focus on our customer's needs, new technologies and new products. While this segment reorganization was not an easy decision to make, I believe these changes will provide greater focus within this segment, allowing for quicker response to customer and market needs as we look to recover from the market events of the past year.
The talent and experience of the team of people that we have put in place within this segment has been designed to strengthen our product portfolio, re- energize our business strategy, and increase market demands for the future." stated Dino A. Rossi.
Winston Samuels, Vice President/General Manager, Encapsulates, and Patricia Siuta-Cruce, Vice President, Technology, are no longer with the organization and are pursuing other opportunities.
Balchem Corporation consists primarily of three business segments: Encapsulated/Nutritional Products, ARC Specialty Products, and unencapsulated feed supplements. The Encapsulated/Nutritional segment provides proprietary microencapsulation solutions to an expanding variety of applications. Through ARC Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries. BCP Ingredients, Inc., manufactures and supplies unencapsulated feed supplements used primarily in the poultry and swine industries.
Forward Looking Statements
This release contains forward-looking statements, which reflect Balchem's expectation or belief concerning future events that involve risks and uncertainties. Balchem can give no assurance that the expectations reflected in forward looking statements will prove correct and various factors could cause results to differ materially from Balchem's expectations, including risks and factors identified in Balchem's annual report on Form 10-K for the year ended December 31, 2002. Forward-looking statements are qualified in their entirety by the above cautionary statement. Balchem assumes no duty to update its outlook or other forward-looking statements as of any future date.