LAKE ELSINORE, CA — (Marketwired) — 09/04/13 — IDS Industries, Inc. (OTCQB: IDST) announced today the appointment of Scott Plantinga, current Chief Operating Officer and Vice Chairman, to the position of Chief Executive Officer. The current CEO and Chairman, Bruce Knoblich, will continue serving as Chairman. “As the single largest shareholder and on behalf of the Board, I am very proud to have Scott appointed as our new CEO. Scott has been a leader of world class companies and has the vision and determination on driving revenue growth, maximizing operational efficiencies, and broadening the Company–s distribution networks,” said Mr. Knoblich.
As noted in a previous press releases, Mr. Plantinga is a certified Six-Sigma manager, bringing a 20-year record of achievement in operations and manufacturing that culminated in a senior management position in Berkshire Hathaway-owned Nylok, a company servicing the aerospace, electronics, industrial, and automotive industries. Prior to Nylok, he held plant manager or general manager positions at Saturn Fasteners, Freedman Seating Co., US Plastic Lumber, and KI (formerly Krueger International), where he consistently posted recognized improvements in product quality, reliability, and profitability. A certified manufacturing engineer, Mr. Plantinga received a BS from the School of Technology at Purdue University with an emphasis on Operations Management and Industrial Engineering.
The appointment comes on the heels of an announcement in August of the completion of a 60-day review and strategic planning by Mr. Plantinga. This new plan includes a corporate restructure that creates three wholly-owned business units in growth markets, each with complementary capabilities and each especially relevant to the industrial go-to-market skills of Mr. Plantinga and his team.
In the coming weeks the Company will announce progress on the commercialization of its energy storage technologies which have now completed beta testing. “With the successful installation and execution of our advanced prototypes the energy storage division is ready to launch brand initiatives for both consumer and commercial applications,” said Mr. Plantinga. “With the construction materials business we can deliver into new markets with a mature distribution network,” he added.
“This team–s experience with product introductions to national retailers such as Home Depot and Lowes and their familiarity with production for OEM and distributor channels has been a major driver for the Board adopting the company–s new strategic direction,” stated Mr. Knoblich. “We are pleased to see the progress of our accelerated growth in the three businesses.”
Mr. Plantinga also serves as CEO of Installing Dealer Supply, Inc., IDS Industries– assembler of portable solar electric generators and other products.
IDS Industries, Inc. is a company in transition with three divisions in the fields of Advanced Energy Storage, Portable Power Generation and Construction Materials. Because the businesses are in varying stages of commercialization and revenue, they represent a portfolio of diversified risk in addition to their relevance to the unique capabilities of its management team.
The Company–s GIIRS-rated energy storage products deliver clean stationary and portable electrical energy, targeting a diverse range of residential, commercial, and off-grid markets. The Company–s proprietary integrated battery management and charge controller system optimizes advanced lithium chemistry functions improving battery performance and extending battery life.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Patrick Gaynes
Growth Capital Partners
(310) 989-5666
George Rodriguez
VP, Business Development
(951) 674-1554