MINNEAPOLIS, Oct. 1, 2012 /PRNewswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today reported that the company has promoted Jeffrey Cammerrer to the position of Chief Financial Officer, effective October 1, 2012. Cammerrer has served as ARCA's Vice President of Accounting and Finance since March 2012 and as Corporate Controller since July 2008. As CFO, Cammerrer will oversee all aspects of corporate finance and accounting, including financial reporting, financing activities, budgeting and financial planning, and investor relations. The position of CFO was formerly held by Peter Hausback, who left the company in November 2011.
Edward R. (Jack) Cameron, President and Chief Executive Officer, commented, "In searching for a new Chief Financial Officer this year, we determined that we have the appropriate talent in-house. I have been impressed by Jeff's business acumen and commitment to the integrity of ARCA's financial management systems. He has also demonstrated the leadership qualities needed to effectively manage costs while championing ARCA's growth strategy and new business initiatives."
Prior to joining ARCA, Cammerrer held the position of Director of Finance for Milestone AV Technologies. He has also held several accounting management positions, including Vice President of Accounting at Eschelon Telecom, Inc. Cammerrer is a CPA (inactive) and holds a B.S. in Accounting from North Dakota State University.
ARCA's (NASDAQ: ARCI) three business components are uniquely positioned in the industry to work together to provide a full array of appliance-related services. ARCA Advanced Processing, LLC employs advanced technology to refine traditional appliance recycling techniques to achieve optimal revenue-generating and environmental benefits. ARCA is also the exclusive North American distributor for UNTHA Recycling Technology (URT), one of the world's leading manufacturers of technologically advanced refrigerator recycling systems and recycling facilities for electrical household appliances and electronic scrap. ARCA's regional centers process appliances at end of life to remove environmentally damaging substances and produce material byproducts for recycling for over 200 utilities in the U.S. and Canada. Twenty company-owned stores under the name ApplianceSmart, Inc.® sell new appliances directly to consumers and provide affordable ENERGY STAR® options for energy efficiency appliance replacement programs.
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including statements regarding ARCA's future success. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including the risks associated with general economic conditions, competition in the retail and recycling industries and regulatory risks. Other factors that could cause operating and financial results to differ are described in ARCA's periodic reports filed with the Securities and Exchange Commission. Other risks may be detailed from time to time in reports to be filed with the SEC.
SOURCE Appliance Recycling Centers of America, Inc.