MARSHALL, Texas, April 6 /PRNewswire-FirstCall/ -- North American Technologies Group, Inc. (BULLETIN BOARD: NATK) , announced that it has achieved revenue growth and stabilized operations. CEO Neal Kaufman has elected to resign and pursue other interests. Chairman Henry Sullivan and Board Director John T. Corcia will form an Office of the President to replace Mr. Kaufman.
"TieTek is the industry leader, delivering high quality composite ties to the railroad industry. The combination of the new management team and operational improvements positions TieTek for continued leadership in its market," stated outgoing CEO Neal Kaufman.
Mr. Kaufman joined NATK in January 2006. The company's revenue grew from $5 million in 2005 to $14 million in 2006 while product quality and manufacturing reliability improved significantly. The company also lowered its debt through a restructuring.
"We all appreciate Neal's contribution to our company and our shareholders. We are fortunate to have a director with Mr. Corcia's background. Mr. Corcia has over 30 years experience in management positions with companies engaged in chemicals manufacturing, non-ferrous metals production, environmental systems and the hazardous waste industry. Mr. Corcia and I look forward to working with the team to lead TieTek through its next phase of development," stated Chairman Henry Sullivan.
Mr. Corcia, who has been a director of the Company since April 1, 2006, has served as a strategic business consultant for Marsulex, an international industrial services company specializing in environmental compliance, since September 2005. Prior to that time, he served as President and Chief Executive Officer of Stablex Canada Inc., a company which operates an international technology based hazardous waste treatment and disposal facility, from April 1992 through August 2005. He received a Bachelor of Ceramic Engineering degree in 1967 from Georgia Institute of Technology, a Master of Science degree in Ceramic Engineering in 1969, and graduated the Executive MBA Program for Management Development at the Harvard Graduate School of Business in 1981.
About NATK
NATK, through its wholly owned subsidiary TieTek(TM), produces high- performance railroad ties. TieTek uses patented technology to process recycled plastics, used tires and other mineral fillers to manufacture engineered composite components that are a longer-lasting alternative to hardwood or concrete in structural applications. The Company's securities are quoted in the over-the-counter market under the symbol "NATK". The Company's website is found at: http://www.tietek.com/ .
Contact:
Henry W. Sullivan
713-462-0303
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