Northern Technologies International Corporation Reports The Resignation Of Dr. Donald A. Kubik From The Board Of Directors Due To Health
MINNEAPOLIS, Aug. 30, 2010 (GLOBE NEWSWIRE) -- Northern Technologies International Corporation (Nasdaq:NTIC) today reported the resignation of Dr. Donald A. Kubik (age 70) as Director and as Vice-Chairman of the Board of Directors due to health concerns. Upon receiving this news, the Board of Directors invited Dr. Kubik to continue to serve the Company as both a Director Emeritus as well as a consultant to various R&D projects.
G. Patrick Lynch, President and Chief Executive Officer of NTIC, said, "Don Kubik has made immeasurable contributions to the Company during his 32 year tenure with the company, both as a Director and an employee. We are deeply grateful for all he has done for NTIC, and are saddened by the circumstances that have caused Don to step down as a Director. All concerned, however, know that Don will always take action in the best interests of this Company which he helped to build."
The NTIC Nominating Committee is continuously searching for highly qualified Directors, but there are neither immediate plans nor regulatory requirements to replace the vacancy Dr. Kubik has created.About Northern Technologies International Corporation Northern Technologies International Corporation develops and markets proprietary environmentally beneficial products and technical services either directly or via a network of joint ventures and independent distributors in over 50 countries. NTIC's primary business is corrosion prevention. NTIC has been selling its proprietary ZERUST® and EXCOR® rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets, for over 30 years. NTIC also offers worldwide on-site technical consulting for rust and corrosion issues. NTIC's technical service consultants work directly with the end users of NTIC's products to analyze their specific needs and develop systems to meet their technical requirements. In addition, NTIC markets proprietary bio-plastic technologies under the Natur- Tec® brand. Finally, NTIC's Polymer Energy® joint venture manufactures and sells advance waste plastic to fuel conversion machines. and is in various stages of development with respect to several other emerging businesses.
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