Appliance Recycling Centers of America (ARCA) Announces Appointment of Rachel L. Holmes to Chief of Staff
MINNEAPOLIS, April 19, 2012 /PRNewswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today announced that it has appointed Rachel L. Holmes to the newly created position of Chief of Staff. In this role, Holmes will provide high-level strategic and facilitative support to enable ARCA's executive office to more effectively focus attention and resources on fulfilling commitments to internal and external stakeholders. She will continue to serve as Vice President of Business Development, a position she has held since April 2008, which includes responsibility for the development of new business, company communications, oversight of marketing and advertising programs, and industry and regulatory research.
"The creation of the Chief of Staff position demonstrates an internal realignment to better position our senior management team to execute our corporate strategy in the coming years," commented Edward R. (Jack) Cameron, President and CEO. "In over twenty years with ARCA, Rachel has developed a wealth of experience with our client base, personnel and company operations. Her proven ability to work effectively with other members of our management team will be a tremendous asset in her expanded role as Chief of Staff, and I look forward to her contributions in this new position."
Holmes has been with ARCA since 1991 in positions of increasing management responsibility in corporate planning, advertising and business development. She earned her Bachelor of Arts degree in political science from the University of Minnesota.
ARCA (www.ARCAInc.com), one of the nation's largest recyclers of major household appliances for the energy conservation programs of electric utilities, currently provides services for more than 250 utilities in the U.S. and Canada. Toxic chemicals and environmentally harmful materials such as ozone-depleting refrigerants, PCBs, mercury and oil are carefully recovered in the decommissioning process for destruction or disposal, preventing them from contaminating soil, air and water resources. The Company 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.
Through ApplianceSmart, Inc. (www.ApplianceSmart.com), ARCA also is one of the nation's leading retailers of special-buy household appliances, primarily those manufactured by General Electric, Electrolux, Whirlpool and Bosch. These special-buy appliances, which include close-outs, factory overruns and discontinued models, typically are not integrated into the manufacturer's normal distribution channel. ApplianceSmart, Inc. sells these new appliances at a discount to full retail, offers a 100% money-back guarantee and provides warranties on parts and labor. As of April 2012, ApplianceSmart, Inc. was operating 20 stores: six in the Minneapolis/St. Paul market; one in the Rochester, Minn., market; one in the St. Cloud, Minn. Market; four in the Columbus, Ohio, market; six in the Atlanta market; and two in San Antonio, Texas. The Company will also open store in Eden Prairie, Minnesota, in May 2012.
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.
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