Stake Technology -- to Become SunOpta Inc. -- Announces Management Promotions
TORONTO--Oct. 9, 2003--Stake Technology Ltd. (To
become "SunOpta Inc." effective October 31, 2003) (Nasdaq:STKL)
(TSX:SOY). Jeremy Kendall, Chairman and CEO announced today the
appointment of Steve Bromley as Executive Vice President and Chief
Operating Officer of the Company, effective immediately. Steve has
held a number of positions with Stake over the last two and a half
years, initially as Chief Financial Officer of the SunRich Food Group
and most recently as Executive Vice President and Chief Financial
Officer of the Company. Steve brings a broad background in the food
industry to his new role having worked in production, sales, business
development and most particularly finance. All operational management
will now report to Steve.
Mr. Kendall also announced the promotion of John Dietrich as Vice
President and Chief Financial Officer of the Company. John is a
Chartered Accountant and Chartered Financial Analyst and has been with
the Company for the past two years as Vice President and Treasurer.
John has an extensive background in the food and packaged goods
industry in a number of progressively responsible financial roles. His
responsibilities will include financial reporting and control,
regulatory compliance, tax, business planning, banking and treasury.
Mr. Kendall also announced the promotion of Sergio Varela to the
new position of Vice President, Operations and Business Development,
reporting to Steve Bromley. Sergio is a Chartered Accountant and has
been with the Company for over a year and a half, and has been a key
player in the growth of the Company and the development of improved
reporting and business processes. In this new role Sergio will play an
integral part in developing improved operating systems and controls
within the operating groups and driving a number of initiatives
focused on improving return on invested assets and shareholder value.
Mr. Kendall commented that "These appointments reflect the
continued growth of our organization and our focus on driving improved
operating results in hand with solid financial reporting and control.
This is a very exciting time for these individuals and our Company."
Stake Technology Ltd., to become SunOpta Inc. effective October
31, 2003, is an owner/operator of high-growth ethical businesses,
focusing on integrated business models in the natural and organic food
markets. For the last five consecutive years, Stake was included in
Profit magazine's 'Profit 100' list of the 100 fastest growing
companies in Canada. The Company has three business units: the Food
Group, which specializes in sourcing, processing and distribution of
natural and organic food products; integrated from seed through
packaged products; the Environmental Industrial Group; a producer,
distributor, and recycler of environmentally friendly industrial
materials; and the Steam Explosion Technology Group who engineer and
market clean pulping systems using patented steam explosion
technology. Each of these business units has proprietary products and
services that give it a solid competitive advantage in its sector.
Websites: www.staketech.com or www.sunopta.com www.sunrich.com
www.bei.ca www.steamexplosion.com www.sunrichvalley.com
www.organickitchen.ca www.wildwestorganicharvest.com
www.kettlevalley.net www.opta-food.com
CONTACT: Stake Technology Ltd.
Jeremy N. Kendall, Steve Bromley or Susan Wiekenkamp
905-455-1990
info@staketech.com
or
Investor Relations Counsel
The Equity Group Inc.
Linda Latman, 212-836-9609
www.theequitygroup.com
SOURCE: Stake Technology Ltd.