MONTREAL, Dec. 5, 2017 /PRNewswire/ - Romana Food Brands Corp (OTC Pink: RFBC), is pleased to announce that following the acquisition of Pasta Romana, the Board of Directors of the Company has elected a new Chairman of the Board and CEO, with well over 4 decades of experience to drive the Company to its next level.
The Board of Directors, as part of its strategy to formulate, produce and market its authentic Italian "Pasta Romana" selections, and privately branded products, will be diligently collaborating and working closely with Mr. Fogelbaum to realize the Company's short-term goal of increasing efficiencies and focusing corporate efforts on bringing sales into the $100 Million range within a relatively short period of time.
Morrie Fogelbaum brings his experience of providing general business and audit consulting services to a wide range of clients. He has developed a highly skilled practice covering a full spectrum of industries including real estate, manufacturing, retail, automotive and health care, and providing assistance to countless small and medium-sized organizations in the establishment and operations of their businesses.
Mr. Fogelbaum is highly recognized for his broad market insight, making him very instrumental in the process of helping businesses reposition themselves in their respective industries through comprehensive strategic planning. He has served both private and public sectors, enabling companies to secure financing, optimize day-to-day management, and position clients for successful mergers and acquisitions.
"I anticipate an excellent year. Upon complete review of the potential in this Company, we expect a strengthening in momentum right out of the gates. I also want to announce our Board of Directors who have all committed to the vision we hold for Romana's future. Jack Stein serves as Executive Vice President, Patrick Filippone is VP of Sales, Bruce Taub is VP of Legal Affairs, Anthony Papa serves as Director of Mergers and Acquisitions, Egidio Fillipone is Secretary Treasurer. They are all highly skilled and talented. We are very pleased to be working together on such an exciting opportunity." stated Morrie Fogelbaum, Chairman of the Board. More details on them can be found at the Company's website: http://romanafoodbrands.com/team.html
The Board of Directors have accepted the resignation of John Pedder, former President, effective immediately.
Romana Food Brands Corp recently announced that due to the current advantageous nature of the Canadian food processing market, management has established a position in the industry, enabling the Company to capitalize on this profitable and thriving sector. The Company currently has a spectrum of major food outlets under contract such as Aldi, Colabor, Costco, Loblaws, Metro, Regitan, Sobey's, and Walmart.
According to Agriculture and Agri-Food Canada statistics, the food and beverage processing industry is the second largest manufacturing industry in Canada in terms of value of production with shipments worth $105.5 billion in 2014; it accounts for 17% of total manufacturing shipments and for 2% of the national Gross Domestic Product (GDP). It's the largest manufacturing employer and provides employment for 246,000 Canadians.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.
For more information visit the Company's website at: http://romanafoodbrands.com/index.html
SOURCE Romana Food Brands Corp