Feronia Inc. Appoints New Managing Director of Palm Oil
25 Marzo 2013 - 1:51PM
Marketwired Canada
Feronia Inc. (TSX VENTURE:FRN) ("Feronia" or the "Company"), is pleased to
announce the appointment of Benedict Rich as Managing Director of Plantations et
Huileries du Congo (PHC), the Company's palm oil division.
Mr. Rich has extensive experience managing plantations operations in emerging
markets having held progressively senior roles at Eastern Produce Kenya Ltd.
("EPK"), a tea plantations company in Kenya and New Britain Palm Oil Ltd., a
large-scale palm oil producer in Papua New Guinea.
In addition to the management of planting and harvesting operations, Mr. Rich
has held responsibility for various aspects of research and development
programmes in both tea and oil palm. He is an ISO qualified internal auditor and
has a keen interest and understanding of sustainability and the environment in
the Palm Oil industry, having helped develop the industry's environmental,
social and sustainability standards whilst at New Britain Palm Oil.
Mr Rich, who is a British national, is expected to join the company in early
April, 2013. He will be based in the DRC and will report to Feronia's COO,
Raymond Batanga.
Bill Dry, CEO of Feronia Inc. commented:
"I am pleased to welcome Ben to the Company as the Managing Director of PHC. The
growth of our plantations is and will continue to be through the re-planting of
areas previously planted with oil palm. We therefore have the opportunity to
grow with less impact on the environment than any other major palm oil producer
and aim to be the industry leader in sustainability and environmental
sensitivity. Ben's knowledge and experience in global best practices in
plantation management, particularly with regards to the environment and
sustainability, will be an important factor in us achieving this aim."
About Feronia Inc.
-- Feronia operates large-scale commercial oil palm plantations and has
commenced an arable farming operation in the DRC.
-- The Company, through its subsidiaries, holds concessions on land which
is owned by the DRC government and on which its oil palm plantation and
farming operations take place.
-- The Company uses modern agricultural practices to operate and develop
its oil palm plantations and arable farming.
-- Feronia believes in the immense agricultural potential of the DRC for
high-quality edible oils, oil derivatives and foodstuffs given the
suitability of its climate and soil and the availability of a skilled
workforce.
-- The Company's management team is comprised of experienced administrative
executives and senior agriculturalists with extensive experience in
managing both plantations and large-scale mechanized farming operations
in emerging markets.
-- Feronia is committed to sustainable agriculture, environmental
protection and providing jobs and economic growth for local communities.
-- For more information please see www.feronia.com
Cautionary Notes
Except for statements of historical fact contained herein, the information in
this press release constitutes "forward-looking information" within the meaning
of Canadian securities law. Such forward-looking information may be identified
by words such as "plans", "proposes", "estimates", "intends", "expects",
"believes", "may", "will". There can be no assurance that such statements will
prove to be accurate; actual results and future events could differ materially
from such statements. Factors that could cause actual results to differ
materially include, among others, regulatory risks, risks inherent in foreign
operations, commodity prices, competition, and investments having no history of
operations. Most of these factors are outside the control of the Company.
Investors are cautioned not to put undue reliance on forward-looking
information. Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new information,
future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Feronia Inc.
Ravi Sood
Executive Chairman
(416) 907-2026
Ravi.Sood@Feronia.com
Feronia Inc.
Paul Dulieu
Investor Relations Manager
(44)203-327-3033 or (44)7554-521421
Paul.Dulieu@Feronia.com
www.feronia.com
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