|February 14, 2012|
CalciTech appoints MD for European operations
|London, United Kingdom, February 14, 2012 - CalciTech Ltd. (OTCBB: CLK) announces today the appointment of Michael Watts as Managing Director of CalciTech Synthetic Minerals Europe Limited ("CSME"), its UK based wholly-owned European operating subsidiary. The acting Managing Director, Michael Brickell, will now become a non-executive director. CSME has an independent UK board of directors and senior management with extensive commercial, industrial and financial experience, and will operate independently within Europe. CSME will be responsible for building the first SCC production plants in Europe and making product available to the market.|
Mr. Watts has a strong track record in bringing new technologies to commercialisation. Previously on the Boards of Alpine Venture Partners and BTG S.A., both of Switzerland, he most recently spent 6 years as President and CEO of the BTG Group, a multinational company owned by Spectris plc with €100 million in sales and 450 employees. BTG provides instrumentation and consumable products to the pulp and paper industry. While at BTG, he led the Company's development into becoming a highly profitable operation despite adverse market conditions.
Prior to BTG, Mr. Watts held several senior positions with various companies such as President of Beta Lasermike Inc. (a Spectris company), Raychem Corporation of Menlo Park California (now Tyco Electronics), and Beecham Pharmaceuticals (now GlaxoSmithKline). A physicist by training, Mr. Watts holds an MBA from INSEAD.
Roger Leopard, CEO of CalciTech Limited said: "I'm delighted that Michael Watts has joined CSME at this time as his ability, experience and knowledge will drive the implementation of CSME's business plan."
About CalciTech Ltd:
CalciTech Ltd has developed and patented unique technology for the production of Synthetic Calcium Carbonate, "SCC" a specialty material that may be widely used in industrialised parts of the world and is developing operating licensees in these territories, the first being in Europe. With its technological capabilities, CalciTech will continue to develop the product potential into other areas.
About CalciTech Synthetic Minerals Europe Ltd:
The Company, recently established in England, has been granted an exclusive license for Europe to execute on the business plan to develop the use of SCC specialty products within the high end valued segments of paper, paint, polymer and related areas, food and pharma applications. These producers and their customers also want to improve the sustainability of their processes by using raw materials that have been recycled, absorb CO2 and have a lower carbon footprint. The first two plants have been designed and sites identified in Germany. CSME, independently managed, is seeking funding through the London market for investment in Europe.
For further information:
Tel: +41 22 710 4020
The directors of the Company take responsibility for this announcement.
Forward Looking Comments: The statements contained in this release that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by management. Actual results may differ from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties. Readers should refer to the risks disclosures in the company's public filings with the Securities and Exchange Commission (www.edgar.sec.gov) or on the Company's website.