SOURCE: Tire International Environmental Solutions, Inc.

December 09, 2010 13:03 ET

Tire International Names Tire Recycling Expert Martin Sergi as Chief Financial Officer

Sergi Also Elected to Company's Board of Directors

NEW YORK, NY--(Marketwire - December 9, 2010) -  Tire International Environmental Solutions, Inc. (OTCBB: TRIE), an emerging tire recycling company, announced today that it has named Martin Sergi as chief financial officer. Sergi was also elected to the company's board of directors.

Sergi, 53, has over 25 years of experience in running private and publicly owned waste management companies in the tire recycling business. He has raised over $1 billion in debt and equity financings over the years and has successfully built companies from inception to $200 million in sales and $350 million in assets.

Tire International CEO Anthony Care said, "We are delighted to have Marty join our team. Among his accomplishments Marty has built a company from scratch into one of the largest recycling companies in the United States, recycling over 10 million tons of trash a year into usable products. Companies he has run have produced innovative products such as color rubber playground safety flooring and rubber infill for NCAA and NFL playing fields. He is a pioneer in converting the tire disposal industry into a new recycling industry in partnership with Ford Motor Company.

"We plan to leverage our company into a highly profitable tire recycling firm operating on a national scale producing exciting products for big box stores and other retail outlets. We are making significant progress and we believe Marty will be an important part of our team to help us meet our objectives," Care said.

Sergi served as CEO of PermaLife Products from 2001 to 2010. Prior to that he was CEO and CFO of KTI Holdings, a major waste to energy and recycling firm that managed waste streams for hundreds of municipalities. He built or acquired over 100 recycling facilities in 20 states and Canada and managed an operating staff of over 500 employees.

Sergi is currently president of Mall at the Galaxy in Guttenberg, NJ. He formerly was a senior manager for Ernst & Whinney. He holds a BA in Accounting degree from St. John's University. In 2006 Ernst and Young named him entrepreneur of the year for the New Jersey region for his work as CEO of PermaLife.

About Tire International Environmental Solutions Inc.

Tire International Environmental Solutions, Inc. is a U.S.-based company that is seeking one or more business opportunities in tire recycling, and waste to value sectors within the waste management industry. The company may seek a business opportunity with entities which have recently commenced operations, or which wish to utilize the public marketplace in order to raise additional capital in order to expand into new products or markets, to develop a new product or service, or for other corporate purposes. The company may acquire assets and establish wholly-owned subsidiaries in various businesses or acquire existing businesses as subsidiaries.
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Forward-Looking Statements

This release contains "forward-looking statements" and information provided by Tire International Environmental Solutions, Inc., such as online, printed documents, publications or information available via Tire International Environmental Solutions, Inc's website. It may contain certain forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause Tire International Environmental Solutions, Inc's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words, including but not limited to, statements regarding corporate plans, strategies and objectives of management; statements regarding products, services or developments; statements regarding future economic conditions; and assumptions underlying any of the foregoing.

Contact Information

  • Investor Contacts
    Martin Sergi
    Chief Financial Officer
    Tire International
    (201) 401-7077

    Frank Hawkins
    Julie Marshall
    Hawk Associates
    (305) 451-1888