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Eurocontrol Adds a Further Independent Director to Board
TORONTO, CANADA--(Marketwire - Oct. 25, 2012) -
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES.
Eurocontrol Technics Group Inc.
(TSX VENTURE:EUO) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication, verification, certification and energy security technologies, is pleased to announce that James Fairbairn has been appointed to the Company's board of directors. The addition of James Fairbairn to the board along with the recent appointments of Kenneth Wawrew, Paul Wood and Dr. Eli Zahavi increases the board size to seven and provides for a majority of independent directors. The Company has reconstituted its audit committee to comprise three independent members - James Fairbairn, Chair, Kenneth Wawrew and Paul Wood.
James Fairbairn has more than 20 years experience with publicly-traded companies. He is a chartered accountant, having obtained his CA designation in 1987 and is an Institute of Corporate Directors certified Director. James Fairbairn holds a B.A. from the University of Western Ontario. Jim's valued experience focused on corporate governance and financial reporting. He is a Director of Canada Lithium Corp. and Crown Gold Corporation.
Bruce Rowlands, Chairman and CEO of Eurocontrol stated, "We are very pleased that Jim Fairbairn has joined the board of directors. His public company experience and in particular his accounting and finance background will be very helpful on Eurocontrol's audit committee."
About Eurocontrol Technics Group Inc.
Eurocontrol has three wholly owned subsidiaries: GFI, Xenemetrix and XwinSys Ltd. GFI and Xenemetrix are global pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through the proprietary Petromark™ integral system, GFI has developed a four-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's ten-year research and development efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol allows management to pursue numerous anticipated oil marking opportunities in 2012 and in years to come. XwinSys Ltd. is currently developing intellectual property that will combine 2D and 3D image processing technology, from Brossh Inspection Systems Ltd. of Israel, with Eurocontrol's subsidiary Xenemetrix Ltd.'s Energy-Dispersive X-ray Fluorescence ("EDXRF") technology.
For further information on Eurocontrol, please visit the Company's website at www.eurocontrol.ca.
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