Chemtrade Announces Board Leadership Changes
TORONTO, Ontario, March 7, 2022 – Chemtrade Logistics Income Fund (TSX: CHE.UN) announced upcoming changes to the leadership of its Board of Trustees, ahead of its annual unitholders’ meeting scheduled for May 10, 2022.
Lorie Waisberg, Chemtrade’s Board Chair, has advised that he will be retiring at the end of his current term. The Board has appointed Douglas Muzyka, currently a Board Trustee, to succeed Mr. Waisberg following Chemtrade’s annual meeting.
Lorie Waisberg has been a Trustee of the Fund since its initial public offering in 2001 and was appointed Chair of the Board in 2009. In addition to being Chair of the Board of Trustees at Chemtrade, Mr. Waisberg has also been a member of its standing committees.
“It has been a privilege to serve on Chemtrade’s Board for the past two decades.” said Mr. Waisberg. “Chemtrade’s growth from its initial formation to the organization that it is today has been tremendous. I leave Chemtrade poised for further growth under the skillful leadership of Scott Rook as CEO and Douglas Muzyka as Chair.”
Mr. Muzyka is currently serving as a Board Trustee and is a member of its standing committees. His distinguished career at E.I. DuPont de Nemours provided extensive experience in the chemical industry, as well as in manufacturing, human resources, governance, and risk management.
“I want to thank Lorie for his superb leadership, guidance, and contributions to Chemtrade’s success over these many years.” said Mr. Muzyka. “I am excited about Chemtrade’s future and I look forward to our continued growth.”
Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America’s largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite, sodium hydrosulphite and phosphorus pentasulphide. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, liquid sulphur dioxide, and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.
Caution Regarding Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of certain securities laws, including the Securities Act (Ontario). Forward-looking statements can be generally identified by the use of words such as “anticipate”, “continue”, “estimate”, “expect”, “expected”, “intend”, “may”, “will”, “project”, “plan”, “should”, “believe” and similar expressions. Specifically, forward-looking statements in this news release include statements respecting certain future expectations about: the Board Chair’s retirement, replacement and timing thereof; and the future growth of Chemtrade. Forward-looking statements in this news release describe the expectations of the Fund and its subsidiaries as of the date hereof. These statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the “RISK FACTORS” section of the Fund’s latest Annual Information Form and the “RISKS AND UNCERTAINTIES” section of the Fund’s most recent Management’s Discussion & Analysis.
Although the Fund believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with such forward-looking statements, and they should not be unduly relied upon.
Except as required by law, the Fund does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.
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For further information:
Chief Financial Officer
Tel: (416) 496-4177
Business Development Manager
Tel: (973) 515-1831