XI'AN, China, May 7 /Xinhua-- Entech Environmental Technologies, Inc. (OTC Bulletin Board: EEVT) ("Entech" or "the Company"), a leading processor and manufacturer of concentrated high acidic apple juice, kiwifruit juice and pear juice through its operating company Shaanxi Tianren Organic Food Co., Ltd. ("Tianren"), today announced the appointment of three new independent directors, Mr. Norman Ko and Mr. Robert B. Fields, effective April 25, 2008, and Mr. Wang Guolin, effective April 4, 2008.
Entech has also completed the establishment of an Audit Committee and a Compensation Committee. Mr. Norman Ko will serve as Chairman of the Audit Committee. Mr. Robert B. will sit on the Audit Committee. Meanwhile, Mr. Norman Ko will also sit on the Compensation Committee.
"We are delighted to welcome Mr. Ko, Mr. Fields and Mr. Wang to our board. They will undoubtedly have a positive impact on our corporate oversight. The addition of these board members will help us establish a solid corporate governance policy in an effort to increase our transparency, particularly with the investment community," noted Mr. Yongke Xue, CEO of Entech.
Mr. Norman Ko is currently a partner at Smith Mandel & Associates, LLP (SM&A), a certified public accounting firm that specializes in a wide range of accounting fields. Mr. Ko has been with the firm since its foundation in 1997 and is currently responsible for the quality control of the audit and assurance department, assisting U.S. public companies with audit preparation, and providing financial and management advisory, as well as tax planning, for businesses and individuals. Prior to joining SM&A, he served as Vice President at Citimax Inc. from 1994 to 1997, as well as serving as Assistant General Manager at Sun Products from 1989 to 1994. Mr. Ko holds an MBA from the University of San Francisco and a Bachelor in Science from York University at Toronto. He is a member of the American Institute of Certified Public Accountants as well as a member of the California Society of Certified Public Accountants.
Mr. Robert B. Fields is an accomplished member of the international business community with diverse experience including key senior management positions and directorships with major corporations and engagements in the fields of management consulting, investment banking, mergers, asset management and dispositions. He is currently the Chairman of ActForex, Inc., a global management service provider of currency trading software. Mr. Fields is currently a board member of Statmon Technologies, Inc. (OTC.BB), a provider of remote control and monitoring proprietary software. He is a board member of Liberty Star Uranium & Metals Corp. (OTC.BB), an exploration stage mining company. Private current boards include Dorado Exploration, Inc., an oil and gas (E&P) company, and Reality Gap, Inc., an online game publisher and content aggregator for online games. He previously served on other OTC.BB companies including Genoil, Inc. (TSXV) and Surge Global Energy, Inc. He also serves as Executive Advisor to Laidlaw Global Corp. (AMEX) from 1999 and Vice Chairman and a Director of Laidlaw Ship Funding Ltd. from 1997 to 1999. From 1995 to 1998 he was a Director of Hospital Staffing Services, Inc. (NYSE). His career includes serving as President and CEO of L'Express Inc., a New Orleans based interstate regional airline, Executive Vice President of American Finance Group in Boston, and Managing Director of Equifund, L.P. (OTC: BB). Mr. Fields has held key positions with, and provided asset and management consulting to, major U.S. corporations including Allied Signal/ Henley Group (Honeywell), W.R. Grace & Co., General Electric Credit Corp. and Citibank. He is a member and previous governor of the Friars Club and is currently President of the Friars National Association Foundation, Inc. of New York, a philanthropic organization for the arts. Mr. Fields is also a member of The Down Town Association (NY).
Mr. Guolin Wang has served as an Independent Director of Shaanxi Tianren Organic Food Co., Ltd. since 2005. He served as professor at the Finance Department of the Management School and the Economics and Finance School of Xi'an Jiaotong University. He previously served as the Director and Chairman of Xi'an Changtian Environmental Protection Engineering Co., Ltd. Mr. Wang acted as the Head of the Management School Graduate Office and Chinese-Singapore Management Doctor Center Office of Xi'an Jiaotong University from 1988 to 1996. Mr. Wang holds a Master's degree in Management Science and Engineering as well as a B.S. in Electronics and Telecommunication, both from Xi'an Jiaotong University. In 2006, He received a Ph.D. in Management Science and Engineering from Xi'an Jiaotong University.
About Entech Environmental Technologies, Inc.
Entech Environmental Technologies, Inc. is a holding company for Shaanxi Tianren Organic Food Co., Ltd. Tianren is a company organized according to the laws of the People's Republic of China. Tianren's main products are concentrated high acid apple juice, kiwifruit juice and pear juice for domestic and international consumers. Its brand, HEDETANG is positioned as a high quality, healthy and nutritious juice concentrate and clear juice product used both as an ingredient component in other products and an end use juice concentrate product. Tianren owns the largest kiwifruit plantation in China and is a leading worldwide producer of kiwifruit concentrate and pulp, which is a fast growing product with the vitamin C equivalent of an orange, half the potassium of a banana and the fiber of a half-cup of bran flakes. Apple and pear concentrate juices are widely used as a sweetener in drinks, preserves and yogurt and have fulfilled that role as a low cost alternative in the stead of higher priced oranges. Tianren's diverse product line of whole fruits and vegetables, including juice based drinks, wines, aromas and ancillary products, provides diversity and maximizes facility and equipment use.
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995 This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial condition to differ materially from what is included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. Potential risks and uncertainties include, among others, currently unknown and unforeseeable constraints on the Company's ability to continue operations, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in United States Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions in equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.