ULTRATEC RECRUITS GLOBAL TALENT TO SUPPORT EXPANSION STRATEGY

Following its acquisition of renowned I.T.A.D Else Refining & Recycling in January 2017, Ultratec Ltd, located in Stevenage, U.K., has substantially strengthened its board through the recruitment of three non-executive Directors, as it continues to develop an innovative and expansive trading strategy across the UK and abroad:-

·        Gotthard Haug, formerly CEO of Teleplan International NV, is to become Non-Executive Chairman

·        Mark McCrimmon, formerly a V.P. at Seagate is to become a Non-Executive Director with specific focus on product and engineering strategy.

·        Paul Hughes, who has a broad range of experience in public and private companies, focussing on building and realisation of shareholder value, is also to join the board, having worked for the business in an advisory capacity.

Ultratec, established 21 years ago by its current owner & CEO, Ian Turnbull, is trusted across the world to repair & recycle Data Storage Devices. Last year they processed over 1 million devices & are entrusted to securely destroy data by many of the world’s most prominent financial institutions, Blue-Chip Corporations and Government Departments (including civil, Defence and law enforcement).

Ian commented – “The business has been consistently profitable since inception, and has built an excellent industry reputation, underpinned by a strong (ungeared) balance sheet and cash reserves enabling us to exploit commercial opportunities. The company has ambitious plans to expand in terms of scale and product development, to further enhance that reputation.

The management team have done well to bring the business this far, but it is a sign of our commercial strength to recognise when a broadening and deepening of board experience is required.

Therefore, I am delighted to welcome Gotthard, Mark and Paul to the board, and I am sure they will help the business achieve its reputational, financial and trading goals”

For further information please contact:

Paul Hughes – paul.hughes@ultratec.co.uk