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| [February 18, 2005] |
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International Electronics Announces Appointment of Two New Members to its Board of Directors
CANTON, Mass. --(Business Wire)-- Feb. 18, 2005 -- International Electronics, Inc. (IEI) (NASDAQ: IEIB), a leading manufacturer of electronic access control and asset management products for industrial and commercial applications, today announced the appointment of Les Charm and Albert Janjigian to its Board of Directors.
John Waldstein, CEO of International Electronics said, "Both Les and Albert bring a wealth of experience and leadership to IEI's Board that will be extremely beneficial to our strategic development and expansion plans. In this stage of the company's development, I believe it is more important than ever to create excellent leadership throughout our organization. I am confident that Les and Albert will bring that leadership to their endeavors on the Board of Directors. "
Since 1972, Les Charm has been a partner in the firm of Youngman & Charm, which specializes in advising entrepreneurs in the strategies involved in the growing of their companies and in assisting companies that are experiencing operating and/or financial problems. He is currently director of the National Association of Corporate Directors-New England, as well as director of several public and privately held firms. From 1977 through 1990, he was Chairman and President of a major distributor and specialty retail chain. He has been active in other specialty marketing companies, and served as a member of the Board of Directors of the International Franchise Association from 1983 to 1988.
Les Charm teaches at Babson College, and has conducted courses throughout the world on a variety of topics regarding entrepreneurship. He is on the President's Council at Babson, and is the recipient of the Appel Award for Entrepreneurship. He is also a Babson undergraduate alumnus and an alumnus of the Harvard Business School.
Albert Janjigian is president and founder of Expedeum, Inc., a Boston-based consulting firm providing strategic and marketing support to companies in the high technology, security, fire alarm, and building systems industries. His consulting efforts have supported boards of directors, CEOs, and senior management teams at many well-known companies in the U.S. and abroad, including TRW, Siemens, Ingersoll-Rand, Lojack, and Malden Mills.
Albert Janjigian's experience includes the co-founding of Detectronics in 1970, the security industry's first national, and then international, wholesale distribution company. Mr. Janjigian stayed with the firm through its acquisition by ADT and its evolution into Aritech Corporation, where he served as vice president and general manager until 1985. He subsequently joined the Swiss firm, Cerberus (known for having invented the first smoke detector) as president of the company's U.S. operations, which included Arrowhead, Gamewell, and Pyrotronics.
1n 1990, Albert Janjigian became a principal at STAT Resources, an industry-leading market research organization, where he developed the firm's management consulting group and began applying his varied experience to the challenges of other companies.
Albert Janjigian is an active contributor to the security industry, having served as president of the Security Industry Association from 1982 to 1986 and again from 1992 to 1993.
About International Electronics, Inc.
International Electronics, Inc. (NASDAQ: IEIB), an ISO9001:2000 certified manufacturer, designs, manufactures and markets electronic access control equipment used in residential, industrial and commercial security systems and industrial asset management applications. IEI's products include its Door-Gard(TM) and Secured Series(TM) access control, its LS line of integrated battery operated door locks, its eMerge(TM) browser managed access and security management products and its line of PowerKey(TM) industrial access control products. IEI markets these products to the leading distribution and installation companies serving the electronic security industry in the United States as well as in Europe, Eastern Europe, Asia, Canada, South America, Australia and New Zealand. International Electronics, Inc. can be found on the Web at www.ieib.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 (the "Act"): This news release contains forward-looking information within the meaning of the Act and the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended including statements that include the words "believes", "expects", or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of IEI, to differ materially from those expressed or implied by such forward-looking statements. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties. These risk factors are identified in our Form 10-QSB for the quarter ending November 30, 2004, which is on file with the Securities and Exchange Commission.
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