Richard Pierce Appointed to CFC International, Inc.'s Audit Committee
20 July 2006 - 8:37AM
PR Newswire (US)
CHICAGO HEIGHTS, Ill., July 19 /PRNewswire-FirstCall/ -- Worldwide
holographic and specialty coated film manufacturer CFC
International, Inc. (NASDAQ:CFCI) today announced that on July 17,
2006, its Board of Directors appointed Richard Pierce, who is
currently serving as an independent director of CFC, to the audit
committee of the Board of Directors, effective immediately. On June
19, 2006, William G. Brown retired from CFC's Board of Directors.
Mr. Brown served as a member of CFC's audit committee. On July 13,
2006, Nasdaq notified CFC that, as a result of Mr. Brown's
retirement, CFC was not in compliance with Nasdaq's audit committee
requirements as set forth in Nasdaq Marketplace Rule 4350(d)(2),
which requires, among other things, that each listed issuer have at
least three members on its audit committee. On July 18, 2006, CFC
received written notice from Nasdaq confirming CFC's noncompliance
and stating that, with the appointment of Mr. Pierce to fill the
vacancy on the audit committee, CFC had regained compliance with
Nasdaq Marketplace Rule 4350(d)(2). This notice is being furnished
in compliance with Nasdaq Marketplace Rule 4803(a). About CFC
International, Inc. CFC International, Inc. formulates,
manufactures, and sells chemically- complex, transferable,
multi-layer coatings for use in many diversified markets, such as
holographic packaging and authentication seals, furniture and
building products, pharmaceutical products and transaction cards
(including credit cards, debit cards, ATM cards, and access cards),
and intaglio printing. With manufacturing facilities in Chicago
Heights and Countryside, Illinois and Goppingen, Germany, and sales
offices in the United Kingdom, France and Hong Kong, CFC's products
are sold to more than 1,000 active customers worldwide. For more
information visit CFC's website at http://www.cfcintl.com/ . CFC's
"Safe Harbor" Statement under Private Securities Litigation Reform
Act of 1995 Statements made in this press release, other than
historical facts, constitute forward-looking statements and are
made pursuant to the safe harbor provisions of the Securities
Reform Act of 1995. Those statements involve risks and
uncertainties which may cause results to differ materially from
those set forth in those statements. Among other things, continued
unfavorable economic conditions may impact market growth trends or
otherwise impact the demand for CFC's products and services;
competition from existing and new competitors and producers of
alternative products will impact the company's ability to penetrate
or expand its presence in new or growing markets; uncertainties
relating to the company's ability to develop and distribute new
proprietary products to respond to market needs in a timely manner
may impact the company's ability to exploit new or growing markets;
CFC's ability to successfully identify and implement productivity
improvements and cost reduction initiatives may impact
profitability; and risks inherent in international operations,
including possible economic, political, or monetary instability,
may impact the level and profitability of CFC's foreign sales. In
addition to the factors set forth in this release, the economic,
competitive, governmental, technological, and other factors
identified in CFC's filings with the Securities and Exchange
Commission could affect the forward looking statements contained in
this press release. CFC has no obligation to revise or update these
forward-looking statements to reflect events or circumstances that
arise after the date of this press release or to reflect the
occurrence of anticipated events. DATASOURCE: CFC International,
Inc. CONTACT: Dennis Lakomy, Chief Financial Officer, of CFC
International, +1-708-757-2803 Web site: http://www.cfcintl.com/
Company News On-Call: http://www.prnewswire.com/comp/110663.html
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