Business
Flame Seal Products, Inc. Releases March 31, 2014 Results With Its First Operating Profit
Flame Seal Products, Inc. Releases March 31, 2014 Results With Its First Operating Profit.
About this update from Flame Seal Products Inc
[{"type":"text","content":"\n \n \n Flame Seal Products, Inc. Releases March 31, 2014 Results With Its First Operating Profit\n \n \nFlame Seal Products, Inc. Releases March 31, 2014 Results With Its First Operating Profit\n \n HOUSTON, TX--(Marketwired - Jun 12, 2014) - FLAME SEAL PRODUCTS, INC. (OTC Pink: FLMP) (PINKSHEETS: FLMP), a leading provider of Specialty Chemicals for the Passive Fire Protection Market, today issues the following update to its Stockholders.\n From: The Board of Directors\n Subject: March 31, 2014 Progress and Financial Report \n Overview\n As a direct result of the 2013 restructuring by the Board of Directors, Flame Seal announces its first quarterly profit. \n With its costs now under control, management is concentrating on increasing the top line while bringing its next generation products to market. The transition will accelerate in 2014 as Flame Seal brings this new technology to market.\n Craig G. Keyser is named Chief Executive Officer\n Bruce Rutherford, Chairman of the Board of Directors, is pleased to announce the permanent appointment of Craig G. Keyser as Chief Executive Officer (CEO) as of April 25, 2014. Prior to this, Mr. Keyser has been operating as interim CEO as well as Chief Operating Officer (COO) and Chief Marketing Officer. Mr. Keyser has over thirty (30) years of experience in the chemical industry starting in the Process Development Laboratory in 1981 with Rohm and Haas, moving up the sales and marketing ladder with them, becoming a Regional Manager at Bayer and Vice President with Atlas Refinery before joining Flame Seal in 2008. \n Mr. Rutherford states, \"Needless to say, Craig is a very capable, energetic, results-focused leader. He has been instrumental in Flame Seal's transformation. He has what we need to make Flame Seal a very profitable company.\"\n Mr. Keyser states, \"I am honored to be entrusted by the Board of Directors with such an important responsibility. Our management team has made significant progress since last May exemplified by the first quarter of 2014. We have achieved this small but nonetheless real profit by restructuring the entire company and focusing on providing value to our customers. The principal constraint on future growth is the requirement for capital to invest in our new technology and to secure additional testing and certifications.\" \n Financing\n To addres...