International Dispensing Company Names Greg Abbott CEO; Charles Dale to Join Board of Directors
November 27 2006 - 10:41AM
Business Wire
International Dispensing Corporation (IDC) (IDND.PK) announced
today its founder and chairman, Greg Abbott, has been named Chief
Executive Officer. IDC�s former CEO, Gary Allanson, remains as
President and Chief Operating Officer and continues to play an
important role. The change reflects the company�s streamlined
business model centered on marketing its core intellectual
property, and its new branding campaign: Don�t Call It a Tap� �
Call It The Answer�. For more information on recent marketing
developments, please log on to IDC�s redesigned website:
www.idcdispensing.com. �We are working with virtually all the major
flexible packaging companies while remaining strategically
independent,� said Abbott. �We are in continuous discussions with a
large number of end-users whom we feel can benefit from The
Answer�, and are engaged in several informal alliances to scope out
market opportunities domestically and abroad. While strict
confidentiality agreements with potential customers and partners
prevent us from being more forthcoming, we feel we are positioned
so that a single catalyst can propel the company to cash-flow
positive. We have signed deals with Steuben Foods and Dale�s
Kitchen and we expect their products to be rolled out in 2007.
While there are no guarantees, we have good reason to believe that
all the years spent developing, patenting, testing, certifying, and
commercializing The Answer� are going to pay off. We continue to
believe in the transformational nature of our product and the
tremendous upside potential of the large-format flexible packaging
category.� Abbott founded IDC in 1996 and became its chairman in
2004. Before his involvement with IDC, he was chairman and CEO of
Ithaca Industries, Inc, a private-label manufacturer of pantyhose,
men�s and women�s underwear, and T-shirts. Under his leadership,
Ithaca grew from a single customer relationship into the nation�s
largest private-label producer in each of its product lines, with
over 400 customers. In addition, Abbott was the first major
investor in EarthLink, the nation�s second largest Internet Service
Provider, and played a key role in securing funding leading to
EarthLink�s IPO. Charles Dale, award-winning chef and co-founder of
Dale�s Kitchen, has been named to IDC�s board of directors. Dale�s
Kitchen�s flagship product, Stock in a Box�, was conceived and
built around The Answer� technology. Stock in a Box� has received
the endorsement of legendary chef and James Beard Best Restaurateur
in America Daniel Boulud. The appointment of Dale reflects the
close working relationship between Dale�s Kitchen and IDC, as well
as the unique talents and experience Dale brings to bear. To learn
more about Dale�s Kitchen, please log on to its website:
www.daleskitchen.com. This release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements reflect IDC�s current views
about future events. Risks, which may cause actual results to
differ materially, may include, but are not limited to: the lack of
acceptance of IDC�s products by potential customers; IDC�s failure
to continue to develop its product line or to attract and retain
customers; its failure to anticipate and adapt to developing
markets and the presence of competition, including potential
competitors that are larger than IDC, with greater financial,
technical, and marketing resources. International Dispensing
Corporation (IDC) (IDND.PK) announced today its founder and
chairman, Greg Abbott, has been named Chief Executive Officer.
IDC's former CEO, Gary Allanson, remains as President and Chief
Operating Officer and continues to play an important role. The
change reflects the company's streamlined business model centered
on marketing its core intellectual property, and its new branding
campaign: Don't Call It a Tap(TM) ... Call It The Answer(TM). For
more information on recent marketing developments, please log on to
IDC's redesigned website: www.idcdispensing.com. "We are working
with virtually all the major flexible packaging companies while
remaining strategically independent," said Abbott. "We are in
continuous discussions with a large number of end-users whom we
feel can benefit from The Answer(TM), and are engaged in several
informal alliances to scope out market opportunities domestically
and abroad. While strict confidentiality agreements with potential
customers and partners prevent us from being more forthcoming, we
feel we are positioned so that a single catalyst can propel the
company to cash-flow positive. We have signed deals with Steuben
Foods and Dale's Kitchen and we expect their products to be rolled
out in 2007. While there are no guarantees, we have good reason to
believe that all the years spent developing, patenting, testing,
certifying, and commercializing The Answer(TM) are going to pay
off. We continue to believe in the transformational nature of our
product and the tremendous upside potential of the large-format
flexible packaging category." Abbott founded IDC in 1996 and became
its chairman in 2004. Before his involvement with IDC, he was
chairman and CEO of Ithaca Industries, Inc, a private-label
manufacturer of pantyhose, men's and women's underwear, and
T-shirts. Under his leadership, Ithaca grew from a single customer
relationship into the nation's largest private-label producer in
each of its product lines, with over 400 customers. In addition,
Abbott was the first major investor in EarthLink, the nation's
second largest Internet Service Provider, and played a key role in
securing funding leading to EarthLink's IPO. Charles Dale,
award-winning chef and co-founder of Dale's Kitchen, has been named
to IDC's board of directors. Dale's Kitchen's flagship product,
Stock in a Box(TM), was conceived and built around The Answer(TM)
technology. Stock in a Box(TM) has received the endorsement of
legendary chef and James Beard Best Restaurateur in America Daniel
Boulud. The appointment of Dale reflects the close working
relationship between Dale's Kitchen and IDC, as well as the unique
talents and experience Dale brings to bear. To learn more about
Dale's Kitchen, please log on to its website: www.daleskitchen.com.
This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements reflect IDC's current views about future events.
Risks, which may cause actual results to differ materially, may
include, but are not limited to: the lack of acceptance of IDC's
products by potential customers; IDC's failure to continue to
develop its product line or to attract and retain customers; its
failure to anticipate and adapt to developing markets and the
presence of competition, including potential competitors that are
larger than IDC, with greater financial, technical, and marketing
resources.
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