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Raymor Appoints Chief Financial Officer

Published on 2006-12-01. Author : SpecialChem

MONTREAL -- Raymor Industries Inc. (TSX-V: RAR) , a leading developer and producer of single-walled carbon nanotubes, nanomaterials and advanced materials, is proud to announce the appointment of René Caron to the position of Chief Financial Officer, effective immediately. Already familiar with the company through his participation on the Board of Directors, Mr. Caron brings his extensive experience in finance, corporate governance and operational management to this position.

Commenting on the news, Stéphane Robert, President and CEO of Raymor Industries, had the following to say:

"We welcome René to the company. Having worked with René on the Board, his background in finance and his expertise related to the Sarbanes-Oxley Act & Bill 198 will be key elements to the company's pursuit of a listing on other major stock exchanges.

r. Caron holds a B.A.A. in Management Information Systems and obtained a certificate in accounting in 1989 from the University of Sherbrooke. He obtained his Chartered Accountant designation and became a member of the "Ordre des Comptables Agréé du Québec" in 1992. Mr. Caron worked for over three years for the accounting firm KPMG as an external auditor. In 1992, he resigned and became Director of Finance for Construction Capital Inc., a major developer of multiple residential and commercial projects in the greater Montreal region. In 1995, Mr. Caron became Senior Financial Consultant for Inno-Centre Inc., where he became a key player in developing new businesses and opportunities for several high-tech companies. In 1999, he joined Quebecor Printing Inc., a division of Quebecor World Inc., as Senior Internal Auditor. In 2002, he was appointed Vice-President of Finance - Specialty Printing Group, where he oversaw seven specialized printing locations across Canada and the USA. In 2003, Mr. Caron joined Zenon Environmental Inc. as Director - Internal Audits & Corporate Governance. With his extensive background, Mr. Caron was responsible for the implementation of new internal regulations at Zenon in order to comply with the US Sarbanes Oxley Act and Bill 198 in Canada.

Raymor announces the granting of 200,000 incentive stock options exercisable at a price of 1,07$ per share to Mr. Caron for his new position as CFO of the company. The issuance of the stock options is subject to acceptance by the TSX Venture Exchange.

About Raymor Industries

RAYMOR INDUSTRIES INC. (TSX-V:RAR) has as its mission to become a leading developer of high technology for the production of single-walled carbon nanotubes, nanomaterials and other advanced materials for high value-added applications. Raymor Industries operates two wholly-owned, industrial subsidiaries, Raymor Nanotech and AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four divisions: (1) nanotechnology products, including nano-powders, nano-coatings, and single-walled carbon nanotubes (C-SWNT) for "the applications of tomorrow"; (2) thermal spray coatings, which largely targets military, aeronautical, aerospace, specialized industrial, and mining applications; (3) spherical metallic powders, primarily used for biomedical and aerospace applications; and (4) net-shape forming, a component manufacturing technique used for ballistic protection and other aerospace and military applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.

Source: Raymor Industries Inc.

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