Buckeye Technologies Establishes New Organization
Feb. 9, 2006 (Press Release) - Buckeye Technologies Inc. [yesterday] announced the establishment of a new organization whose mission is to lead the Company's efforts in lowering costs, reducing working capital, and eliminating waste. The Company intends to implement the "Lean Enterprise" methodology throughout its operations. The new organization will focus on improving work processes to ensure that all activities bring value to our customers.
Mr. William M. Handel, currently Senior Vice President, Human Resources, will be appointed Senior Vice President, Lean Enterprise to lead this effort. He will have overall responsibility for all Human Resources, Customer Service, and Information Systems activities.
Buckeye Chairman, David B. Ferraro, stated, "The huge energy-driven increase in our costs this fiscal year, together with a sizeable investment in working capital make it clear that we have to change business processes. We must improve our ability to provide products to customers in a more economical way. This new organization will identify those areas which do not create value and which can be eliminated. Streamlining business processes should improve the Company's profitability while producing measurable benefits for our customers."
Mr. Handel is a graduate of Youngstown State University with a degree in Industrial Management and a Masters degree in Business Financial Management from George Washington University. He joined Buckeye's predecessor company in 1974, was elected Vice President in 1995, and assumed his current position in 2000.
Other Buckeye senior management changes are being separately announced.
Buckeye, a leading manufacturer and marketer of specialty fibers and nonwoven materials, is headquartered in Memphis, Tennessee, USA. The Company currently operates facilities in the United States, Germany, Canada, and Brazil. Its products are sold worldwide to makers of consumer and industrial goods.
SOURCE: Buckeye Technologies Inc.