CHARLOTTE, N.C., Jan. 2 /PRNewswire-FirstCall/ -- Polymer Group, Inc. (OTC Bulletin Board: POLGA; POLGB) announced today that the company appointed Robert (Bob) Kocourek as vice president and chief accounting officer.
Kocourek assumes the responsibilities of the principal accounting officer, which were previously performed by Willis C. Moore III, the company's chief financial officer. Such responsibilities include the development of global financial accounting policies, interpretations of accounting literature and ensuring that the company's financial statements are prepared in accordance with generally accepted accounting principles on a global basis. Kocourek will continue to report to Moore, who remains chief financial officer.
Kocourek previously served as vice president, corporate finance and treasurer since he joined the company in May 2006. Prior to joining the company, Kocourek assisted the company in its Sarbanes-Oxley implementation efforts and other financial accounting and reporting projects as a consultant and gained extensive financial and accounting experience working with Ernst & Young, LLC and Coopers and Lybrand earlier in his career.
"I am very pleased that Bob has agreed to take this position and believe it will further our on-going efforts to achieve best in class accuracy and transparency of our global financial reporting," said Moore.
Polymer Group, Inc., one of the world's leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading consumer and industrial product manufacturers. The company operates 19 manufacturing and converting facilities in 8 countries throughout the world.
Safe Harbor Statement
Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements speak only as of the date of this release. Important factors that could cause actual results to differ materially from those discussed in such forward-looking statements include: general economic factors including, but not limited to, changes in interest rates, foreign currency translation rates, consumer confidence, trends in disposable income, changes in consumer demand for goods produced, and cyclical or other downturns; substantial debt levels and potential inability to maintain sufficient liquidity to finance the company's operations and make necessary capital expenditures; inability to meet existing debt covenants; information and technological advances; changes in environmental laws and regulations; achievement of objectives for strategic acquisitions and dispositions; cost and availability of raw materials, labor and natural and other resources and the inability to pass raw material cost increases along to customers; changes in selling prices to customers which are based, by contract, on changes to an underlying index; inability to achieve successful start-up of new production lines; domestic and foreign competition; reliance on major customers and suppliers; and risks related to operations in foreign jurisdictions. Investors and other readers are directed to consider the risks and uncertainties discussed in documents filed by Polymer Group, Inc. with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
For further information, please contact:
Dennis Norman
Vice President - Strategic Planning & Communication
(704) 697-5186
