Functional Technologies Corp. (TSX VENTURE: FEB) (the "Company") announced the appointment of Mr. Alan Maddox, an accomplished food industry executive, to its Advisory Board.
Mr. Maddox possesses more than 30 years of sales, organizational and executive experience in international business and food industries. Prior to its sale to a large U.S. food manufacturer, Ralcorp Holdings, in June 2010, Mr. Maddox was the President of Sepp's Group of Companies, a multinational manufacturer and provider of frozen foods, including private label "health and well-being" frozen breakfast products. At Sepp's, Mr. Maddox helped create strong global sales growth, enabling the company to turn profitable from a loss position. Prior to joining Sepp's, Mr. Maddox held several senior sales roles at McCain Foods Ltd., a global leader in the frozen food industry producing one third of the world's frozen French fries, with 53 facilities worldwide and annual sales over C$6.0 billion. At McCain Foods, Mr. Maddox worked directly for then Chairman of the Board, Harrison McCain, and was also Director of the International Group, with responsibilities for building the Frozen Business in over 70 countries including in the Far East, Caribbean, Middle East and Latin America. Today, Mr. Maddox consults for food companies worldwide, providing guidance in sales and organizational growth initiatives.
"From the perspectives of both a food manufacturer and a consumer, there is an increasing awareness and demand for better and healthier food products. The preventative solutions that Functional Technologies offers the food and beverage industries enables the Company to stand apart and positions it attractively for partnership opportunities," said Mr. Maddox.
"As the Company continues to move forward on the commercialization of its technologies in several food and beverage sectors, advisors such as Mr. Maddox will be valuable to Functional Technologies both in the pursuit of partnerships with multinational companies and the growth of the Company as a whole," said Howard Louie, chairman and CEO of Functional Technologies.
About Functional Technologies Corp.
Functional Technologies develops and commercializes proprietary, advanced yeast-based solutions to significant challenges in the food, beverage and healthcare industries. The Company's platform improves the performance of innate yeast functions, and prevents the formation of naturally occurring toxins and contaminants that either affect final product quality or are classified by the World Health Organization as probable human carcinogens. Functional Technologies' lead technologies include yeasts that prevent and reduce the formation of the foul-smelling hydrogen sulphide (H2S) and the carcinogens acrylamide and ethyl carbamate (more commonly known as urethane), by-products of food and beverage processing. These contaminants are found in many commonly consumed items, such as fermented food products and alcoholic beverages, and baked and fried foods. With a head office in Vancouver, Functional Technologies Corp. has R&D operations in Prince Edward Island and Europe, as well as a U.S. sales office in Napa Valley, California. For more information, please visit our website at www.functionaltechcorp.com.