Packaged Ice Announces Management Changes

Apr 02, 2001, 01:00 ET from Packaged Ice, Inc.

    HOUSTON, April 2 /PRNewswire/ -- Packaged Ice, Inc. (Amex:   ICY) announced
 today the appointment of Leonard A. Bedell to the position of Executive Vice
 President and Chief Financial Officer, succeeding Steven J. Janusek, who
 resigned to accept another position.  Mr. Bedell has served as Senior Vice
 President, Central Operations for Packaged Ice since January 1998.  Mr. Bedell
 has significant senior management experience in operations, finance and
 merger/acquisition roles in several public companies and two management
 consulting firms.  He has previously served as the CFO and member of the Board
 of Directors of two Nasdaq companies.  Mr. Bedell initiated his career with
 Arthur Andersen, LLP and is a Certified Public Accountant.
     The Company also announced that it has hired David A. Goldman as Director,
 Corporate Development.  Mr. Goldman will assist the company in the important
 areas of financial planning, acquisition analysis, and building shareholder
 value.  He has over 20 years experience as an accomplished and recognized Wall
 Street food and beverage analyst augmented by seven years experience in
 industry financial management functions, including strategic planning,
 acquisition analysis and investor relations.  Mr. Goldman was most recently
 Director, Equity Research for SunTrust Equitable Securities, after serving as
 Managing Director at Banc of America Securities.
     The Company further announced that Graham D. Davis has been promoted into
 the position of Executive Vice President, Operations, reporting directly to
 President and Chief Operating Officer, Jim Weaver.  Mr. Davis is a 23-year
 veteran of the ice industry, having served as Senior Vice President, Western
 Area for Packaged Ice, with responsibility for the operations of 28 ice plants
 in 13 states.  Prior positions include Executive Vice President, Operations
 for Reddy Ice, which was acquired by Packaged Ice in April 1998.
     The Company also announced the appointment of Mark A. Steffek to the
 position of Vice President Finance & Treasurer.  Mr. Steffek, a Certified
 Public Accountant, joined Packaged Ice in September 2000 after serving as a
 Senior Audit Manager with Deloitte & Touche.
     "We are pleased to announce these promotions, which with the addition of
 David Goldman will provide us greater management depth as we focus on
 optimizing our growth and deleveraging our balance sheet in 2001," said Jim
 Stuart, Chairman and CEO of Packaged Ice.  "Leonard Bedell's in depth
 knowledge of the Company's operations combined with his strong financial
 background and previous CFO experience makes him the perfect candidate to
 succeed Steve Janusek.  We appreciate all of Steve's contributions and hard
 work and wish him well in his new job.
     "We are also excited by the addition of David Goldman to our team.  His
 substantial understanding of the investment community as well as his strong
 financial analysis skills and industry experience positions him to provide
 valuable strategic planning to enhance the valuation of the Company.  In
 addition, Graham Davis' solid experience and operational background make him
 especially capable of serving in this critical operational capacity.  Mark
 Steffek's senior financial audit background will add significantly to our
 financial controls and reporting functions," concluded Stuart.
     Packaged Ice is the largest manufacturer and distributor of packaged ice
 in the United States and currently serves over 76,000 customer locations in
 30 states and the District of Columbia.  The Company services all significant
 markets of the ice industry, including supermarkets and convenience store
 retailers, restaurants, commercial users and the agricultural sector.
 Packaged Ice's proprietary technology, THE ICE FACTORY(TM), has changed the
 competitive landscape in the ice industry and is the driving force behind the
 Company's strategy to increase market share in regions where the Company
 targets expansion.
     This press release contains various forward-looking statements and
 information that are based on management's belief as well as assumptions made
 by and information currently available to management.  Although the Company
 believes that the expectations reflected in such forward-looking statements
 are reasonable; it can give no assurance that such expectations will prove to
 have been correct.  Such statements are subject to certain risks,
 uncertainties and assumptions.  Should one or more of these risks materialize,
 or should underlying assumptions prove incorrect, actual results may vary
 materially from those expected.  For a discussion of the risks, investors are
 urged to refer to the Company's reports filed under the Securities Exchange
 Act of 1934.
 
      Contacts:  James F. Stuart, Chairman & CEO
                 Packaged Ice, Inc.
                 713-464-9384
 
                 Ken Dennard / kdennard@easterly.com
                 Lisa Elliott / lisae@easterly.com
                 Easterly Investor Relations
                 713-529-6600
 
 

SOURCE Packaged Ice, Inc.
    HOUSTON, April 2 /PRNewswire/ -- Packaged Ice, Inc. (Amex:   ICY) announced
 today the appointment of Leonard A. Bedell to the position of Executive Vice
 President and Chief Financial Officer, succeeding Steven J. Janusek, who
 resigned to accept another position.  Mr. Bedell has served as Senior Vice
 President, Central Operations for Packaged Ice since January 1998.  Mr. Bedell
 has significant senior management experience in operations, finance and
 merger/acquisition roles in several public companies and two management
 consulting firms.  He has previously served as the CFO and member of the Board
 of Directors of two Nasdaq companies.  Mr. Bedell initiated his career with
 Arthur Andersen, LLP and is a Certified Public Accountant.
     The Company also announced that it has hired David A. Goldman as Director,
 Corporate Development.  Mr. Goldman will assist the company in the important
 areas of financial planning, acquisition analysis, and building shareholder
 value.  He has over 20 years experience as an accomplished and recognized Wall
 Street food and beverage analyst augmented by seven years experience in
 industry financial management functions, including strategic planning,
 acquisition analysis and investor relations.  Mr. Goldman was most recently
 Director, Equity Research for SunTrust Equitable Securities, after serving as
 Managing Director at Banc of America Securities.
     The Company further announced that Graham D. Davis has been promoted into
 the position of Executive Vice President, Operations, reporting directly to
 President and Chief Operating Officer, Jim Weaver.  Mr. Davis is a 23-year
 veteran of the ice industry, having served as Senior Vice President, Western
 Area for Packaged Ice, with responsibility for the operations of 28 ice plants
 in 13 states.  Prior positions include Executive Vice President, Operations
 for Reddy Ice, which was acquired by Packaged Ice in April 1998.
     The Company also announced the appointment of Mark A. Steffek to the
 position of Vice President Finance & Treasurer.  Mr. Steffek, a Certified
 Public Accountant, joined Packaged Ice in September 2000 after serving as a
 Senior Audit Manager with Deloitte & Touche.
     "We are pleased to announce these promotions, which with the addition of
 David Goldman will provide us greater management depth as we focus on
 optimizing our growth and deleveraging our balance sheet in 2001," said Jim
 Stuart, Chairman and CEO of Packaged Ice.  "Leonard Bedell's in depth
 knowledge of the Company's operations combined with his strong financial
 background and previous CFO experience makes him the perfect candidate to
 succeed Steve Janusek.  We appreciate all of Steve's contributions and hard
 work and wish him well in his new job.
     "We are also excited by the addition of David Goldman to our team.  His
 substantial understanding of the investment community as well as his strong
 financial analysis skills and industry experience positions him to provide
 valuable strategic planning to enhance the valuation of the Company.  In
 addition, Graham Davis' solid experience and operational background make him
 especially capable of serving in this critical operational capacity.  Mark
 Steffek's senior financial audit background will add significantly to our
 financial controls and reporting functions," concluded Stuart.
     Packaged Ice is the largest manufacturer and distributor of packaged ice
 in the United States and currently serves over 76,000 customer locations in
 30 states and the District of Columbia.  The Company services all significant
 markets of the ice industry, including supermarkets and convenience store
 retailers, restaurants, commercial users and the agricultural sector.
 Packaged Ice's proprietary technology, THE ICE FACTORY(TM), has changed the
 competitive landscape in the ice industry and is the driving force behind the
 Company's strategy to increase market share in regions where the Company
 targets expansion.
     This press release contains various forward-looking statements and
 information that are based on management's belief as well as assumptions made
 by and information currently available to management.  Although the Company
 believes that the expectations reflected in such forward-looking statements
 are reasonable; it can give no assurance that such expectations will prove to
 have been correct.  Such statements are subject to certain risks,
 uncertainties and assumptions.  Should one or more of these risks materialize,
 or should underlying assumptions prove incorrect, actual results may vary
 materially from those expected.  For a discussion of the risks, investors are
 urged to refer to the Company's reports filed under the Securities Exchange
 Act of 1934.
 
      Contacts:  James F. Stuart, Chairman & CEO
                 Packaged Ice, Inc.
                 713-464-9384
 
                 Ken Dennard / kdennard@easterly.com
                 Lisa Elliott / lisae@easterly.com
                 Easterly Investor Relations
                 713-529-6600
 
 SOURCE  Packaged Ice, Inc.