TORONTO, ONTARIO -- (Marketwire) -- 03/25/13 -- Feronia Inc. (TSX VENTURE: FRN) ("Feronia" or the "Company"), is pleased to announce the appointment of Benedict Rich as Managing Director of Plantations et Huileries du Congo (PHC), the Company's palm oil division.
Mr. Rich has extensive experience managing plantations operations in emerging markets having held progressively senior roles at Eastern Produce Kenya Ltd. ("EPK"), a tea plantations company in Kenya and New Britain Palm Oil Ltd., a large-scale palm oil producer in Papua New Guinea.
In addition to the management of planting and harvesting operations, Mr. Rich has held responsibility for various aspects of research and development programmes in both tea and oil palm. He is an ISO qualified internal auditor and has a keen interest and understanding of sustainability and the environment in the Palm Oil industry, having helped develop the industry's environmental, social and sustainability standards whilst at New Britain Palm Oil.
Mr Rich, who is a British national, is expected to join the company in early April, 2013. He will be based in the DRC and will report to Feronia's COO, Raymond Batanga.
Bill Dry, CEO of Feronia Inc. commented:
"I am pleased to welcome Ben to the Company as the Managing Director of PHC. The growth of our plantations is and will continue to be through the re-planting of areas previously planted with oil palm. We therefore have the opportunity to grow with less impact on the environment than any other major palm oil producer and aim to be the industry leader in sustainability and environmental sensitivity. Ben's knowledge and experience in global best practices in plantation management, particularly with regards to the environment and sustainability, will be an important factor in us achieving this aim."
About Feronia Inc.
-- Feronia operates large-scale commercial oil palm plantations and has commenced an arable farming operation in the DRC.-- The Company, through its subsidiaries, holds concessions on land which is owned by the DRC government and on which its oil palm plantation and farming operations take place.-- The Company uses modern agricultural practices to operate and develop its oil palm plantations and arable farming.-- Feronia believes in the immense agricultural potential of the DRC for high-quality edible oils, oil derivatives and foodstuffs given the suitability of its climate and soil and the availability of a skilled workforce.-- The Company's management team is comprised of experienced administrative executives and senior agriculturalists with extensive experience in managing both plantations and large-scale mechanized farming operations in emerging markets.-- Feronia is committed to sustainable agriculture, environmental protection and providing jobs and economic growth for local communities.-- For more information please see www.feronia.com
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will". There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, regulatory risks, risks inherent in foreign operations, commodity prices, competition, and investments having no history of operations. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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