Vita Announces New Directors
31 5월 2007 - 2:40AM
PR Newswire (US)
CHICAGO, May 30 /PRNewswire-FirstCall/ -- Vita Food Products, Inc.
(AMEX:VSF) today announced that David S. Lipson, Edward P. Dolanski
and Robert C. Douglas II were elected as members of its Board of
Directors at the Company's 2007 Annual Meeting of Stockholders,
replacing Scott Levitt, Glenn Morris and Steven Rothstein. Mr.
Lipson has been named Chairman of the Board, and Stephen D. Rubin
has become Chairman Emeritus. "On behalf of the Company I would
like to extend a sincere appreciation to Messrs. Levitt, Morris and
Rothstein for their contributions to Vita's Board. We also express
our gratitude to Mr. Rubin who has served the Company as Chairman
of the Board for the past ten years and has now become Chairman
Emeritus," stated Clifford K. Bolen, the Company's President and
Chief Executive Officer. At the Annual Meeting, Mr. Bolen discussed
the Company's recent introduction of new products in both its
Seafood and Specialty Foods divisions. Mr. Bolen also noted that
the Company has passed on price increases as it has received cost
increases, cut expenses to improve profitability and built a solid
senior management team. Mr. Bolen stated that "Our short term plans
include a return to consistent profitability as well as
implementing a plan to build a more effective corporate
infrastructure for managing the Seafood and Specialty Foods
divisions. During the latter part of 2007 both divisions will
migrate to a single enterprise software platform, which will both
reduce costs and provide more meaningful operational information."
At the end of Mr. Bolen's presentation he expressed his confidence
in Vita Food Products' future, based upon the addition of new and
deeply experienced Board members and the strength of the executive
management team. The Vita Seafood division is a U.S. leader in the
herring and retail packaged salmon markets, and is engaged in
several other food segments, including cream cheese, cocktail
sauce, tartar sauce and horseradish. More than 95% of Vita
Seafood's sales are in kosher foods. Vita Specialty Foods, Inc.,
the Company's wholly owned subsidiary, markets and sells honey,
salad dressings, barbecue sauces and other meat enhancements and
salsas. The Company markets and sells these items under the
Virginia Brand(R), Oak Hill Farms(R), Scorned Woman(R), Jim
Beam(R), Budweiser(TM), Dr Pepper(R), 7UP(R) and A&W(R) brands.
For more information visit http://www.vitafoodproducts.com/ The
common stock of Vita Food Products, Inc. is currently traded on the
American Stock Exchange and Chicago Stock Exchange under the ticker
symbol VSF. This release contains forward-looking statements about
the Company's future growth, profitability, introduction of new
products and competitive position. Any such statements are subject
to risks and uncertainties, including changes in economic and
market conditions, industry competition, raw material prices, the
success of new product introductions, management of growth and
other risks noted in the Company's filings with the Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance on forward-looking statements, which reflect management's
analysis only as of the date hereof. DATASOURCE: Vita Food
Products, Inc. CONTACT: Clifford Bolen, President and Chief
Executive Officer, +1-312-738-4500, or
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