IBR Restructures To Focus on Core Business Strengths

Canadian Venture Exchange: IBR



Apr 20, 2001, 01:00 ET from International Bio-Recovery Corporation

    VANCOUVER, April 20 /PRNewswire/ - International Bio Recovery Corp.
 ("IBR") reports that the Company's President and CEO, Mr. Frank Dixon has
 recently reorganized the company to better focus on its core business
 strengths. As part of this restructuring, the Company is conducting a prudent
 review of all operations, investments, personnel and corporate strategic
 direction.
     Mr. Dixon and his restructured management team are completing a
 comprehensive new business plan for the Company. The company's biological soil
 fertility products have come to represent a significant global opportunity. As
 such, the business plan will see incorporated an emphasis to develop new
 markets and sources of revenue for the soil fertility products that meet the
 needs of large agricultural food producers.
     Management has undertaken a number of measures to strictly control costs
 and improve cash flow. In the last month the Company has reduced plant
 personnel at the North Vancouver facility by approximately 30%. As a result,
 the plant has optimized production, improved efficiency and has reduced plant-
 operating expenses. The Company has concluded an agreement to outsource the
 collection of organics for its North Vancouver plant. The waste collections
 division, which was responsible for sourcing IBR's organic waste streams in
 the past, will now operate independently of IBR. The waste collection division
 represented approximately $45,000 per month in overhead. This change provides
 the IBR with an opportunity to better focus its resources and personnel on the
 Company's core business.
     Furthermore, an internal review of all IBR projects and commitments is
 underway. This includes a prudent review of the plans for the Ladysmith plant
 on Vancouver Island. The economics of this venture are being carefully
 reviewed to ensure that the rate of return on this project is in keeping with
 the Company's expectations.
     As a complementary initiative, IBR's Board of Directors has established
 various committees aimed at providing guidance to the Company. These
 committees are in keeping with the guidelines established for good corporate
 governance for reporting companies. These committees include Human Resources,
 Corporate Governance and the Audit Committee.
     Changes in management, the recomposition of the Board of Directors along
 with this current restructuring are in line with IBR's previously announced
 initiatives undertaken by the Board of Directors to put in place a seasoned
 and professional management group. These initiatives will enable the Company
 to better execute the commercialization phase of its technology.
 
     International Bio-Recovery Corporation (www.ibrcorp.com) is an innovative
 environmental biotechnology company leading the way in alleviating the global
 organic waste disposal problem through its proprietary technology that
 efficiently converts biodegradable waste into valuable end products.
     IBR is a publicly listed company trading on the Canadian Venture Exchange
 under the symbol IBR.
 
 
     On behalf of the Board,
 
 
     Frank Dixon,
     President & Chief Executive Officer
 
     The Canadian Venture Exchange has not reviewed and does not accept
 responsibility for the adequacy or accuracy of the content of this news
 release.
 
 

SOURCE International Bio-Recovery Corporation
    VANCOUVER, April 20 /PRNewswire/ - International Bio Recovery Corp.
 ("IBR") reports that the Company's President and CEO, Mr. Frank Dixon has
 recently reorganized the company to better focus on its core business
 strengths. As part of this restructuring, the Company is conducting a prudent
 review of all operations, investments, personnel and corporate strategic
 direction.
     Mr. Dixon and his restructured management team are completing a
 comprehensive new business plan for the Company. The company's biological soil
 fertility products have come to represent a significant global opportunity. As
 such, the business plan will see incorporated an emphasis to develop new
 markets and sources of revenue for the soil fertility products that meet the
 needs of large agricultural food producers.
     Management has undertaken a number of measures to strictly control costs
 and improve cash flow. In the last month the Company has reduced plant
 personnel at the North Vancouver facility by approximately 30%. As a result,
 the plant has optimized production, improved efficiency and has reduced plant-
 operating expenses. The Company has concluded an agreement to outsource the
 collection of organics for its North Vancouver plant. The waste collections
 division, which was responsible for sourcing IBR's organic waste streams in
 the past, will now operate independently of IBR. The waste collection division
 represented approximately $45,000 per month in overhead. This change provides
 the IBR with an opportunity to better focus its resources and personnel on the
 Company's core business.
     Furthermore, an internal review of all IBR projects and commitments is
 underway. This includes a prudent review of the plans for the Ladysmith plant
 on Vancouver Island. The economics of this venture are being carefully
 reviewed to ensure that the rate of return on this project is in keeping with
 the Company's expectations.
     As a complementary initiative, IBR's Board of Directors has established
 various committees aimed at providing guidance to the Company. These
 committees are in keeping with the guidelines established for good corporate
 governance for reporting companies. These committees include Human Resources,
 Corporate Governance and the Audit Committee.
     Changes in management, the recomposition of the Board of Directors along
 with this current restructuring are in line with IBR's previously announced
 initiatives undertaken by the Board of Directors to put in place a seasoned
 and professional management group. These initiatives will enable the Company
 to better execute the commercialization phase of its technology.
 
     International Bio-Recovery Corporation (www.ibrcorp.com) is an innovative
 environmental biotechnology company leading the way in alleviating the global
 organic waste disposal problem through its proprietary technology that
 efficiently converts biodegradable waste into valuable end products.
     IBR is a publicly listed company trading on the Canadian Venture Exchange
 under the symbol IBR.
 
 
     On behalf of the Board,
 
 
     Frank Dixon,
     President & Chief Executive Officer
 
     The Canadian Venture Exchange has not reviewed and does not accept
 responsibility for the adequacy or accuracy of the content of this news
 release.
 
 SOURCE International Bio-Recovery Corporation