|By PR Newswire||
|February 20, 2014 09:45 AM EST||
BELLINGHAM, Wash., Feb. 20, 2014 /PRNewswire/ -- Integral Technologies, Inc. (OTC-BB: ITKG)-- Integral Technologies, Inc. (ITKG) ("Integral"), announced today that Bart Snell has been named the company's Chief Financial Officer. Snell brings extensive financial and accounting experience to Integral, including roles with various emerging growth and public companies in the technology, telecommunication and manufacturing industries. Snell will be instrumental in overseeing the company's development and financial growth.
"Bart's extensive background as a financial and operational executive for emerging growth and public companies is a great fit for us," said Doug Bathauer, CEO of Integral. "We have made substantial progress this past year in terms of expanding our business, including establishing relationships with Hanwha L&C, Delphi Automotive PLC and BASF. With Bart's addition, we are expanding our focus on our operating and financial efficiencies while continuing to add shareholder value."
"I have a passion for firms that are transforming technology into growth products and services," said Snell. "My career has been about working with management teams to improve business results and build strategic capital structures resulting in transformational growth in shareholder value. I'm impressed with the company's patented line of conductive plastics, ElectriPlast, and the numerous applications the technology has in several high growth industries." said Mr. Snell. "I am excited to join Integral's team and I look forward to working closely with ITKG investors and shareholders while emphasizing discipline around costs, establishing and achieving corporate milestones which will drive shareholder value."
Snell succeeds outgoing CFO and Integral Co-founder William Ince. "It's challenging to bring a new technology to market and I am pleased to have been a part of the success we are now realizing," said Mr. Ince. "I look forward to collaborating with Bart to ensure a seamless transition. I will continue to work with the company in any way I can, as Integral transitions into commercial production."
Snell began his career with IBM with an emphasis on the development and manufacturing of high-end computers and semiconductors. More notable positions include, CFO of IBM Australia, during a period when business and financial performance improved dramatically (profit margins doubled), CFO of IBM's semiconductor operations in Burlington, VT, as IBM moved its semiconductor requirements to more cost-effective technologies. He worked with an IBM and Apple team to explore joint ventures, and was Director of IBM's world-wide Software Strategy. After leaving IBM, Mr. Snell founded his consulting company, PowerSource Solutions, to advise C-level clients and Board directors in solving problems and strengthening the effectiveness of core business processes in growth-technology companies. Snell is also an experienced Board member, having served on the Boards of Mobile Satellite Ventures, Terrastar, IBM Australia Leasing Inc. and Motient Corporation. He also served as the Vice-chairman of the Washington Chamber Symphony.
Bart holds an MBA in Investment Finance from the University of Texas at Austin and a BS in Commerce, Accounting from University of Virginia.
About Integral Technologies, Inc.
(ITKG) ("Integral"), and wholly owned subsidiary ElectriPlast Corp, engage in the discovery, development, and commercialization of electrically conductive hybrid plastics used primarily as raw materials in the production of industrial, commercial and consumer products and services worldwide. Its core material, ElectriPlast®, is a non-corrosive, electrically conductive resin-based material whose properties allow it to be molded into any of the infinite shapes and sizes associated with plastics, rubbers and other polymers while reducing component weight by 40 to 60%. Integral is a leader in conductive hybrid plastics with a broad Intellectual Property portfolio referencing its ElectriPlast technology. Applications for ElectriPlast include: Shielding Wire, Power Electronics, Connectors, and Cables; Shielding, Conduction, Batteries, Semiconductors, Heated Elements, Sensors, Antennas, Medical Devices, Consumer Electronics and Acoustics, Fuses, Capacitors, Resistors, RFID, Bus bars and Terminals. Follow us on Facebook and Twitter.
Safe Harbor Statement
This press release contains "forward-looking statements'' within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. These statements include, without limitation, predictions and guidance relating to the company's future financial performance and the research, development and commercialization of its technologies. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the result of such factors, risks and uncertainties as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, (3) other factors detailed in the company's public filings with the SEC, including, without limitation, those described in the Company's annual report on Form 10-K for the year ended June 30, 2013 as filed with the Securities and Exchange Commission and available at www.sec.gov, and (4) the parties may be unable to agree upon definitive agreements. You are urged to consider these factors carefully in evaluating the forward-looking statements.
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