The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Xebec Announces Appointment of Patrick Palerme as New Director

Monday, November 12, 2012

Xebec Announces Appointment of Patrick Palerme as New Director16:00 EST Monday, November 12, 2012MONTREAL, Nov. 12, 2012 /CNW Telbec/ - Xebec Adsorption Inc. (TSX: XBC) ("Xebec"), a provider of biogas upgrading, natural gas, field gas and hydrogen purification solutions for the clean energy and crude-derived fuels displacement markets, announced today that Mr. Patrick Palerme has joined the Company's Board of Directors.Mr. Palerme is currently a member of the Board of Directors of Rona Inc. (TSX: RON) and is Managing Director and co-founder of Global Change Leaders, a consulting group of former GE Leaders who offer their global experience in leading change initiatives, organizational integrations and business mergers and acquisitions.Prior to the founding of Global Change Leaders, Mr. Palerme was CEO of GE Capital Canada for 6 years, COO of GE Capital Solutions Canada for 9 years and CFO of GE Capital Equipment Finance Canada for more than 8 years. Prior to GE, Mr. Palerme worked for one of the big Canadian banks as CFO for the largest leasing company in Canada at the time and as Deputy Chief Accountant for the bank. At the beginning of his career, Mr. Palerme worked for Price Waterhouse for over 5 years in Public Auditing of large corporations.Mr. Palerme holds a Bachelor in Business Administration from HEC Montréal (University of Montreal) and the designation of Chartered Accountant (CA) of Canada since 1982. He has attended numerous GE training programs."We are delighted to welcome Patrick to our Board of Directors at this important time for Xebec as we enter the next stage in our Company's history," stated Mr. Kurt Sorschak, Chief Executive Officer of Xebec.  "Patrick's expertise, experience, entrepreneurship and long successful track record of generating exceptional results in profitability and growth in his prior business roles will certainly serve as an asset to us. As Xebec solidifies our future direction and growth path, Patrick's experience and skill set will prove to be a very valuable asset to our organization."About Xebec Adsorption Inc.Xebec Adsorption Inc. is a global provider of clean energy solutions to corporations and governments looking to reduce their carbon footprints. With more than 1,300 customers worldwide, Xebec designs, engineers and manufactures innovative products that transform raw gases into marketable sources of clean energy mainly used as transportation fuel. Xebec's strategy is focused on establishing leadership positions in markets where demand for biogas upgrading, natural gas dehydration, liquefaction and hydrogen purification is growing. Headquartered in Montreal (QC), Xebec is a global company with two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America and Asia. Xebec trades on the TSX under the symbol XBC. For additional information on the company and its products and services, please visit the Xebec web site at www.xebecinc.com.Caution Concerning Forward-Looking StatementsCertain statements in this press release may constitute "forward-looking" statements within the meaning of applicable securities laws. This forward looking information includes, but is not limited to, the expectations and/or claims of management of Xebec with respect to information regarding the business, operations and financial condition of Xebec. Forward-looking information contained in this press release involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Xebec or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. This list is not exhaustive of the factors that may affect forward-looking information contained in this press release. When used in this press release, such statements use such words as "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "will" and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this presentation. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. SOURCE: XEBEC ADSORPTION INC.For further information: Kurt Sorschak President and CEO 450-979-8701 ksorschak@xebecinc.com  Eric Favreau Chief  Financial Officer 450-979-8706efavreau@xebecinc.com