ZCL Composites Announces New COO and Provides Update on Pursuit of Value Enhancing Initiatives

EDMONTON, Feb. 1, 2016 /CNW/ - ZCL Composites Inc. (TSX: ZCL) ("ZCL" or the "Company") today announced that it has appointed Rene Aldana as Chief Operating Officer, effective January 19, 2016.

"Rene is a strong and experienced operator who will help ZCL increase efficiency and advance our profitable growth," said Ron Bachmeier, President & CEO of ZCL. "I am pleased to welcome him aboard."

Mr. Aldana has deep experience in management, strategic and tactical leadership, process automation and optimization, operations technologies, talent development, efficiency and productivity improvements, M&A integration and other areas that will benefit ZCL. He was formerly Managing Director and President of Yokogawa Canada, a Calgary-based subsidiary of Yokogawa Electric Corporation, which is active globally in the industrial automation and control (IA), test and measurement, and other businesses segments. Prior to Yokogawa, Mr. Aldana worked in successively senior positions for Paris-based Schneider Electric and Telvent, which Schneider Electric acquired in 2011.  From 2010 to 2013 he was Vice President of Schneider Electric's Oil and Gas International Division in Calgary. 

Update on value enhancing initiatives

The Company advises shareholders that it continues to pursue value enhancing initiatives such as acquisitions, divestitures and further returns of capital to shareholders. The Company is well positioned to do so as a result of its solid operating results and progress divesting underperforming business units, consolidating redundant capacity and monetizing non-productive assets.

ZCL has developed a strong balance sheet and net cash position while also initiating a normal course issuer bid in 2015 and tripling its dividend over the past three years. The Company will continue to act in a measured and prudent manner to return capital to shareholders and will provide further disclosure if and when material events crystallize.

About ZCL Composites Inc.

Our vision is to be the leading global provider of environmentally friendly liquid storage, fluid handling and corrosion resistant industrial products. More information about ZCL is available on our website at www.zcl.com.

SOURCE ZCL Composites Inc.

Ron Bachmeier, President & CEO, ZCL Composites Inc., [phone], [email protected]; Kathy Demuth, Chief Financial Officer, ZCL Composites Inc., [phone], [email protected]